Staley Capital Advisers Inc. Trims Position in JPMorgan Chase & Co. $JPM

Key Points

• Staley Capital Advisers trimmed its JPMorgan Chase position by 0.7% in Q1, leaving it with 417,412 shares valued at about $122.8 million. JPMorgan remains a major holding, making up 5.2% of the firm’s portfolio.
• JPMorgan’s recent fundamentals and outlook look solid: the bank beat first-quarter earnings expectations with $5.94 EPS on $50.54 billion in revenue, and analysts expect strong Q2 results helped by trading and deal activity.
• Institutional interest and shareholder returns remain strong, with 71.55% of the stock owned by institutions and JPMorgan continuing its dividend, set at $1.50 per share quarterly, or $6.00 annually.

Staley Capital Advisers Inc. reduced its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 417,412 shares of the financial services provider's stock after selling 3,057 shares during the period. JPMorgan Chase & Co. accounts for about 5.2% of Staley Capital Advisers Inc.'s investment portfolio, making the stock its 4th biggest position. Staley Capital Advisers Inc.'s holdings in JPMorgan Chase & Co. were worth $122,786,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Morgan Stanley raised its holdings in shares of JPMorgan Chase & Co. by 1.4% during the 4th quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider's stock worth $21,390,662,000 after acquiring an additional 939,421 shares in the last quarter. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $11,396,496,000. Bank of New York Mellon Corp increased its position in JPMorgan Chase & Co. by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider's stock worth $7,547,837,000 after purchasing an additional 1,194,583 shares during the last quarter. Legal & General Group Plc increased its position in JPMorgan Chase & Co. by 0.6% in the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider's stock worth $6,128,484,000 after purchasing an additional 110,586 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in JPMorgan Chase & Co. by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider's stock valued at $5,161,532,000 after purchasing an additional 296,213 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: JPMorgan’s AI agents reportedly beat both a 60/40 portfolio and the bank’s rules-based model in backtests, suggesting the company may have a useful edge in applying AI to investing and portfolio construction. JPMorgan AI Agents Beat Traditional Investment Portfolios in Historical Simulations
• Positive Sentiment: Analysts are turning more constructive ahead of earnings, with JPMorgan’s upcoming Q2 results expected to benefit from strong trading and deal activity, which could support earnings momentum. JPMorgan Q2 Earnings Preview — Analysts Raise JPM Stock Price Targets
• Positive Sentiment: JPMorgan is being highlighted as one of the more attractive financial stocks, and a higher price target from Morgan Stanley has added to the bullish tone around the name. JPMorgan (JPM) Ranks Among Most Profitable Stocks
• Neutral Sentiment: Market commentary suggests the broader banking sector could get a boost from upcoming earnings, but results will need to confirm that optimism before it becomes a stronger stock driver. Bank Earnings to Get Wall Street Boost. Can Main Street Keep Up?

Insider Activity at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 9,136 shares of the company's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the transaction, the chief operating officer directly owned 90,001 shares in the company, valued at approximately $27,590,706.56. This represents a 9.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the sale, the general counsel directly owned 46,428 shares in the company, valued at $13,940,935.56. This trade represents a 10.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 33,623 shares of company stock worth $10,427,835. Insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Stock Down 0.1%

Shares of JPM opened at $336.03 on Monday. The company has a market cap of $900.40 billion, a PE ratio of 16.09, a P/E/G ratio of 1.53 and a beta of 0.99. The business has a fifty day moving average of $315.85 and a 200 day moving average of $309.69. JPMorgan Chase & Co. has a 52-week low of $279.10 and a 52-week high of $343.45. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The company had revenue of $50.54 billion during the quarter, compared to analyst estimates of $48.30 billion. During the same period in the previous year, the firm earned $5.07 earnings per share. JPMorgan Chase & Co.'s quarterly revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 22.82 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. JPMorgan Chase & Co.'s payout ratio is currently 28.74%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Dbs Bank upgraded shares of JPMorgan Chase & Co. to a "hold" rating in a research report on Tuesday, May 12th. The Goldman Sachs Group set a $361.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, April 14th. Truist Financial upped their target price on shares of JPMorgan Chase & Co. from $332.00 to $344.00 and gave the company a "hold" rating in a research report on Friday, June 26th. Evercore reaffirmed an "outperform" rating and issued a $360.00 price target on shares of JPMorgan Chase & Co. in a report on Monday, July 6th. Finally, Autonomous Res dropped their price target on JPMorgan Chase & Co. from $360.00 to $324.00 and set a "neutral" rating for the company in a research report on Monday, April 6th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Hold" and an average target price of $345.33.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co NYSE: JPM is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm's principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

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