Legacy CG LLC Sells 4,507 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Legacy CG LLC cut its JPMorgan Chase position by 24.4% in the third quarter, selling 4,507 shares and retaining 13,983 shares valued at about $4.63 million.
• Several large institutional investors increased their holdings, and institutions collectively own 71.55% of JPMorgan’s shares.
• JPMorgan’s latest quarterly results missed analyst expectations for earnings and revenue, despite 8.1% year-over-year revenue growth. The bank also raised its quarterly dividend to $1.65 per share from $1.50.

Legacy CG LLC reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 24.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,983 shares of the financial services provider's stock after selling 4,507 shares during the period. Legacy CG LLC's holdings in JPMorgan Chase & Co. were worth $4,626,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. State Street Corp boosted its position in JPMorgan Chase & Co. by 0.8% during the 2nd quarter. State Street Corp now owns 125,209,293 shares of the financial services provider's stock worth $40,984,758,000 after acquiring an additional 932,632 shares during the last quarter. Bank of America Corp DE grew its stake in shares of JPMorgan Chase & Co. by 6.1% during the 2nd quarter. Bank of America Corp DE now owns 69,666,753 shares of the financial services provider's stock worth $22,804,018,000 after acquiring an additional 4,006,293 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of JPMorgan Chase & Co. by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 21,642,804 shares of the financial services provider's stock valued at $7,084,339,000 after purchasing an additional 540,362 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,833,413 shares of the financial services provider's stock valued at $6,164,741,000 after purchasing an additional 134,634 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of JPMorgan Chase & Co. by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 18,968,884 shares of the financial services provider's stock worth $5,578,788,000 after purchasing an additional 607,288 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan’s disciplined duration management and stable deposits may help protect its balance sheet if rates remain high. However, funding costs and regulatory exposure are still risks. JPM Flags Higher Rate Risks: Can Its Balance Sheet Stay Resilient?
• Positive Sentiment: ETFs bought about $65.6 million of JPM shares on Nov. 4, a supportive demand signal, though one day of flows may not indicate a lasting trend. 42 ETFs Add to JPMorgan Chase (JPM) on Nov. 4
• Neutral Sentiment: JPMorgan’s M&A chief expects a softer 2027, but suggested private-equity firms may eventually need to sell assets, potentially improving exit activity. JPMorgan’s M&A chief sees softer 2027—but a potential upside surprise in private equity exits
• Negative Sentiment: Senate Finance Committee Democrats plan to scrutinize JPMorgan’s relationship with Epstein and how senior executives handled it. The probe could prolong reputational and regulatory uncertainty; the reports do not establish wrongdoing. Democrats to probe JPMorgan's relationship with Epstein when they take Senate control

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Royal Bank Of Canada restated an "outperform" rating and set a $370.00 target price on shares of JPMorgan Chase & Co. in a report on Wednesday, October 14th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 14th. Zacks Research downgraded shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 14th. Wall Street Zen downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Bank of America lifted their target price on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and a consensus target price of $368.33.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $334.67 on Monday. 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 has a market capitalization of $888.75 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 1.32 and a beta of 1.03. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $366.50. The stock has a fifty day moving average of $341.87 and a 200-day moving average of $323.78.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, October 13th. The financial services provider reported $5.75 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $51.23 billion. During the same quarter in the previous year, the business posted $5.07 earnings per share. The company's revenue for the quarter was up 8.1% on a year-over-year basis. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 23.95 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, October 31st. Stockholders of record on Tuesday, October 6th were issued a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a dividend yield of 2.0%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. The ex-dividend date was Tuesday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.68%.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 2,500 shares of the business's stock in a transaction that occurred 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 transaction, the insider owned 71,047 shares in the company, valued at approximately $25,066,092.07. The trade was a 3.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.41% of the company's stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a global financial services company serving consumers, businesses, institutional clients and governments. Its operations include consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management.

The company offers services such as deposit accounts, credit cards, mortgages, auto financing, lending, payment processing and investment advice. It also provides institutional clients with investment banking, markets, treasury and securities services, and commercial lending.

Headquartered in New York City, JPMorgan Chase serves customers across the United States and operates in many international markets.

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