The Manufacturers Life Insurance Company Sells 40,705 Shares of JPMorgan Chase & Co. $JPM

Key Points

• The Manufacturers Life Insurance Company reduced its JPMorgan stake by 1.6%, selling 40,705 shares in the second quarter but retaining 2.47 million shares valued at approximately $809.6 million.
• JPMorgan reported strong quarterly performance, with EPS of $6.14 beating estimates and revenue rising 27.7% year over year to $58.02 billion. Institutional investors collectively own 71.55% of the company.
• JPMorgan raised its quarterly dividend to $1.65, or $6.60 annually, while analysts maintain a “Moderate Buy” consensus with an average price target of $359.96.

The Manufacturers Life Insurance Company lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,473,477 shares of the financial services provider's stock after selling 40,705 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.6% of The Manufacturers Life Insurance Company's portfolio, making the stock its 28th largest position. The Manufacturers Life Insurance Company owned approximately 0.09% of JPMorgan Chase & Co. worth $809,644,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bank of America Corp DE boosted its position in shares of JPMorgan Chase & Co. by 15.8% during the 1st 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 in the last quarter. Norges Bank bought a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $11,396,496,000. Bank of New York Mellon Corp increased its position in JPMorgan Chase & Co. by 2.6% in 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 raised its stake in 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 worth $6,128,484,000 after buying an additional 110,586 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in 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 acquiring an additional 607,288 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The stock was 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 in the company, valued at $25,066,092.07. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through 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. 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

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $348.92 on Monday. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $366.50. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.85. The stock's fifty day moving average price is $353.73 and its two-hundred day moving average price is $324.03. The firm has a market cap of $927.49 billion, a PE ratio of 14.95, a PEG ratio of 1.44 and a beta of 0.98.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The company had revenue of $58.02 billion for the quarter, compared to analyst estimates of $50.72 billion. During the same quarter in the previous year, the firm posted $4.96 earnings per share. The company's quarterly revenue was up 27.7% compared to the same quarter last year. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 24.3 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on JPM. The Goldman Sachs Group reiterated a "buy" rating and issued a $418.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 14th. Barclays upped their price objective on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Robert W. Baird lifted their price objective on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Citigroup boosted their target price on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "buy" rating and set a $375.00 target price on the stock in a report on Wednesday, July 22nd. Sixteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $359.96.

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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.