JPMorgan Chase & Co. $JPM Stock Sold by Baypointe Partners LLC

Key Points

• Baypointe Partners cut its JPMorgan stake by 75% in the third quarter, selling 15,000 shares and retaining 5,000 shares valued at approximately $1.65 million. Institutional investors collectively own 71.55% of JPMorgan.
• JPMorgan’s latest quarterly results fell short of estimates, with EPS of $5.75 versus $5.94 expected and revenue of $50.17 billion versus $51.23 billion expected, although revenue rose 8.1% year over year.
• The bank raised its quarterly dividend to $1.65 per share, equivalent to a $6.60 annualized payout and a 1.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $368.10.

Baypointe Partners LLC lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 75.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,000 shares of the financial services provider's stock after selling 15,000 shares during the quarter. JPMorgan Chase & Co. comprises 12.3% of Baypointe Partners LLC's portfolio, making the stock its 4th largest position. Baypointe Partners LLC's holdings in JPMorgan Chase & Co. were worth $1,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Capital Investment Advisors LLC lifted its position in JPMorgan Chase & Co. by 1.4% during the 3rd quarter. Capital Investment Advisors LLC now owns 238,914 shares of the financial services provider's stock valued at $79,040,000 after acquiring an additional 3,228 shares during the period. Beaumont Financial Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 3.6% during the third quarter. Beaumont Financial Advisors LLC now owns 16,767 shares of the financial services provider's stock valued at $5,547,000 after purchasing an additional 584 shares in the last quarter. Capital City Trust Co. FL grew its stake in shares of JPMorgan Chase & Co. by 0.7% in the 3rd quarter. Capital City Trust Co. FL now owns 21,110 shares of the financial services provider's stock worth $6,984,000 after buying an additional 142 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 1.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 147,554 shares of the financial services provider's stock worth $48,815,000 after acquiring an additional 2,410 shares in the last quarter. Finally, BRIA Capital Group LLC boosted its holdings in JPMorgan Chase & Co. by 17.4% in the third quarter. BRIA Capital Group LLC now owns 5,169 shares of the financial services provider's stock worth $1,710,000 after acquiring an additional 765 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 2,500 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total value of $882,025.00. Following the completion of the sale, the insider directly owned 71,047 shares of the company's stock, valued at $25,066,092.07. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $339.33 on Thursday. The stock has a market cap of $902.00 billion, a P/E ratio of 14.23, a P/E/G ratio of 1.31 and a beta of 1.02. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.85 and a current ratio of 0.85. The stock's fifty day moving average is $343.93 and its 200 day moving average is $322.85. JPMorgan Chase & Co. has a one year low of $279.10 and a one year high of $366.50.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, October 13th. The financial services provider reported $5.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.94 by ($0.19). JPMorgan Chase & Co. had a net margin of 21.85% and a return on equity of 18.48%. The company had revenue of $50.17 billion for the quarter, compared to the consensus estimate of $51.23 billion. During the same period in the prior year, the firm posted $5.07 EPS. The business's revenue for the quarter was up 8.1% on a year-over-year basis. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 23.97 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th will be issued a dividend of $1.65 per share. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. This represents a $6.60 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, October 6th. JPMorgan Chase & Co.'s payout ratio is presently 27.68%.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of analyst reports. Bank of America upped their price target on shares of JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $375.00 to $390.00 and gave the company an "overweight" rating in a report on Friday, August 14th. Freedom Broker upgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 15th. The Goldman Sachs Group reissued an "outperform" rating and set a $392.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 13th. Finally, Truist Financial increased their target price on JPMorgan Chase & Co. from $352.00 to $361.00 and gave the company a "hold" rating in a research note on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and thirteen have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $368.10.

Key Headlines Impacting JPMorgan Chase & Co.

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan has reportedly secured a leading role in Anthropic’s planned IPO, overseeing U.S. retail share sales. The bank is also involved in the SpaceX offering, potentially providing additional underwriting, distribution and advisory fees while reinforcing its position in high-profile technology IPOs. Anthropic Selects JPMorgan to Lead US Retail Share Sales for Planned IPO
• Positive Sentiment: JPMorgan is participating in the DTCC’s new tokenization service and has expanded its JPM Coin deposit token, JPMD, to Ethereum for approved institutional clients. These initiatives could create longer-term opportunities in payments, settlement and digital-asset infrastructure. DTCC unit launches tokenization services
• Positive Sentiment: J.P. Morgan Asset Management continues to promote attractive fixed-income yields and expects potentially strong bond returns. Greater investor demand for bonds could support asset-management flows, although the benefit to JPMorgan Chase is indirect. Why higher yields are making bonds attractive again
• Neutral Sentiment: JPMorgan formally objected to OKXICE’s proposed tokenized-stock platform, joining 33 companies concerned about unauthorized tokenization. The move may protect shareholder and regulatory interests but could slow adoption of competing tokenized-equity venues. Companies oppose OKXICE tokenized stock push
• Negative Sentiment: A JPMorgan wealth-management advisory group overseeing more than $1.4 billion in client assets reportedly moved to Rockefeller Capital Management. The departure raises concerns about adviser retention and possible pressure on wealth-management revenue. JPMorgan losing $1.4 billion in advisory assets
• Negative Sentiment: CEO Jamie Dimon continues to highlight sticky inflation, elevated asset prices, rising rates, deficits and geopolitical tensions. JPMorgan’s recent earnings miss, higher credit-loss provisions and slower buybacks underscore the potential for macroeconomic pressure on future results. Jamie Dimon names five threats to the economy

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, lending, investment banking, payments, asset management and wealth management services to individuals, businesses, governments and institutional clients.

Its major business segments include Consumer & Community Banking, which offers deposit accounts, credit cards, mortgages, auto loans and other financial products; Commercial & Investment Banking, which provides corporate lending, advisory, underwriting, trading, treasury and payments services; and Asset & Wealth Management, which serves individual and institutional investors with investment management, brokerage and related advisory services.

JPMorgan Chase serves customers in the United States and operates internationally through offices and businesses in major financial centers around the world.

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