Legal & General Group Plc Trims Position in JPMorgan Chase & Co. $JPM

Key Points

• Legal & General reduced its JPMorgan position by 5% in the second quarter, selling 951,729 shares and retaining 17.9 million shares worth approximately $5.86 billion. Institutional investors collectively own 71.55% of JPMorgan’s stock.
• JPMorgan reported quarterly EPS of $6.14 and revenue of $58.02 billion, beating analyst expectations, while revenue rose 27.7% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $359.96.
• The quarterly dividend increased from $1.50 to $1.65 per share, implying a 1.9% yield, although persistent inflation, elevated oil prices and market volatility remain potential risks to the outlook.

Legal & General Group Plc lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,895,549 shares of the financial services provider's stock after selling 951,729 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.2% of Legal & General Group Plc's holdings, making the stock its 13th biggest holding. Legal & General Group Plc owned approximately 0.67% of JPMorgan Chase & Co. worth $5,857,750,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JPM. Fidelis Capital Partners LLC grew its holdings in JPMorgan Chase & Co. by 7.9% in the fourth quarter. Fidelis Capital Partners LLC now owns 70,077 shares of the financial services provider's stock valued at $22,580,000 after purchasing an additional 5,101 shares during the period. E Fund Management Co. Ltd. boosted its holdings in shares of JPMorgan Chase & Co. by 7.1% in the 2nd quarter. E Fund Management Co. Ltd. now owns 29,956 shares of the financial services provider's stock valued at $9,805,000 after purchasing an additional 1,973 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its holdings in shares of JPMorgan Chase & Co. by 4.6% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 343,644 shares of the financial services provider's stock valued at $112,485,000 after purchasing an additional 15,017 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services grew its stake in shares of JPMorgan Chase & Co. by 18.7% during the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 41,218 shares of the financial services provider's stock valued at $12,125,000 after buying an additional 6,492 shares during the period. Finally, FAS Wealth Partners Inc. grew its stake in shares of JPMorgan Chase & Co. by 4.3% during the 1st quarter. FAS Wealth Partners Inc. now owns 43,527 shares of the financial services provider's stock valued at $12,804,000 after buying an additional 1,794 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: Strong third-quarter revenue outlook: JPMorgan expects investment-banking fees and Markets revenue to increase in the mid-to-high teens year over year. A robust deal pipeline and trading activity suggest continued strength in fee income and support expectations for another strong quarter. JPMorgan Sees Investment Banking and Trading Powering Q3 Growth
• Positive Sentiment: Higher rates may support lending revenue: Following the Federal Reserve’s rate increase, JPMorgan and other major banks raised prime lending rates to 7%. This could improve asset yields and net interest income, although deposit costs and borrower demand remain important offsets. U.S. Banks Raise Prime Interest Rates Following Fed Hike
• Positive Sentiment: Shareholder-return and franchise catalysts: Analysts highlighted JPMorgan’s planned quarterly dividend increase to $1.65, while new mandates—including financing Drax’s solar acquisition and Canada airport concessions—could add to advisory and underwriting revenue. JPMorgan Dividend and Long-Term Outlook
• Neutral Sentiment: Continued strategic visibility: JPMorgan will report third-quarter results on October 13. The bank is also hosting its India conference and pursuing a large, multiyear U.S. housing initiative, developments that reinforce its global reach but are unlikely to materially affect near-term earnings. JPMorgan Third-Quarter Earnings Call Announcement
• Negative Sentiment: Inflation and oil risks remain overhangs: CEO Jamie Dimon said inflation has not clearly been defeated. Separately, JPMorgan’s commodities team abandoned a firm oil-price forecast as the prolonged Iran conflict pushed Brent above $100 per barrel. Persistent inflation could delay rate cuts, raise credit risks and increase market volatility. Jamie Dimon on Inflation

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $352.81, for a total transaction of $882,025.00. Following the sale, the insider directly owned 71,047 shares of the company's stock, valued at approximately $25,066,092.07. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $375.00 to $390.00 and gave the stock an "overweight" rating in a research report on Friday, August 14th. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. Zacks Research downgraded JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Monday, September 14th. UBS Group lifted their price objective on JPMorgan Chase & Co. from $384.00 to $400.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Finally, Morgan Stanley reiterated a "positive" rating and set a $370.00 target price on shares of JPMorgan Chase & Co. in a report on Wednesday, July 15th. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and a consensus price target of $359.96.

JPMorgan Chase & Co. Stock Down 0.2%

NYSE JPM opened at $348.92 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $366.50. The business has a 50 day moving average price of $353.73 and a two-hundred day moving average price of $324.03. The stock has a market cap of $927.49 billion, a PE ratio of 14.95, a P/E/G ratio of 1.44 and a beta of 0.98.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, topping analysts' consensus estimates of $5.59 by $0.55. The business had revenue of $58.02 billion for the quarter, compared to analysts' expectations of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The business's revenue for the quarter was up 27.7% compared to the same quarter last year. During the same period in the previous year, the company posted $4.96 earnings per share. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 24.3 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Tuesday, October 6th will be paid a dividend of $1.65 per share. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. This represents a $6.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Tuesday, October 6th. JPMorgan Chase & Co.'s payout ratio is 25.71%.

JPMorgan Chase & Co. Company Profile

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

The company operates through four primary business areas: Consumer & Community Banking; Commercial & Investment Banking; Asset & Wealth Management; and Corporate. Its offerings include deposit accounts, credit cards, mortgages, auto loans, business banking, commercial lending, treasury services, investment banking, securities trading, investment management and private banking.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across numerous international markets.

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