Manning & Napier Advisors LLC Reduces Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Manning & Napier Advisors reduced its JPMorgan stake by 6.3% in the second quarter, selling 6,365 shares and retaining 94,965 shares valued at approximately $31.3 million.
• Institutional ownership remains high at 71.55%, with several major investors—including Bank of America, Bank of New York Mellon, Legal & General, and Dimensional Fund Advisors—raising their positions.
• JPMorgan reported stronger-than-expected quarterly results, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $359.96. The bank also increased its quarterly dividend from $1.50 to $1.65 per share.

Manning & Napier Advisors LLC decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 94,965 shares of the financial services provider's stock after selling 6,365 shares during the quarter. Manning & Napier Advisors LLC's holdings in JPMorgan Chase & Co. were worth $31,281,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in JPMorgan Chase & Co. by 15.8% during the first quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider's stock worth $19,314,681,000 after purchasing an additional 8,941,351 shares during the period. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $11,396,496,000. Bank of New York Mellon Corp lifted its stake in shares of JPMorgan Chase & Co. by 2.6% during the 2nd 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 buying an additional 540,362 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of JPMorgan Chase & Co. by 0.6% during the 4th quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider's stock valued at $6,128,484,000 after buying an additional 110,586 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in JPMorgan Chase & Co. by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 18,968,884 shares of the financial services provider's stock worth $5,578,788,000 after buying an additional 607,288 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on JPM shares. Evercore reiterated an "outperform" rating and issued a $360.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. Robert W. Baird raised their price target on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Zacks Research lowered JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Monday, September 14th. UBS Group lifted their price target on JPMorgan Chase & Co. from $384.00 to $400.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $375.00 to $390.00 and gave the company an "overweight" rating in a research note on Friday, August 14th. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $359.96.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. 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 completion of the transaction, the insider owned 71,047 shares of the company's stock, valued at $25,066,092.07. The trade was a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of the transaction, the general counsel directly owned 40,961 shares in the company, valued at $13,547,031.53. The trade was a 11.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 10,467 shares of company stock valued at $3,593,651. 0.41% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $348.92 on Friday. 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 $353.73 and a 200 day moving average of $323.85. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $927.49 billion, a price-to-earnings 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 announced its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share 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 analyst estimates of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The company's quarterly revenue was up 27.7% compared to the same quarter last year. During the same period in the prior year, the company earned $4.96 EPS. On average, research analysts expect that JPMorgan Chase & Co. will post 24.3 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

JPMorgan Chase & Co. 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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