Thornburg Investment Management Inc. Has $628,000 Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Thornburg Investment Management sharply reduced its JPMorgan Chase stake by 97.9% in the fourth quarter, selling 91,207 shares and ending with 1,949 shares worth about $628,000.
• JPMorgan posted strong quarterly results, with earnings of $5.94 per share beating estimates and revenue rising 10% year over year to $50.54 billion.
• The bank also announced a quarterly dividend of $1.50 per share, equal to a $6.00 annualized payout and a 1.9% yield.

Thornburg Investment Management Inc. cut its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 97.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,949 shares of the financial services provider's stock after selling 91,207 shares during the period. Thornburg Investment Management Inc.'s holdings in JPMorgan Chase & Co. were worth $628,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in JPM. Morgan Stanley lifted its position in JPMorgan Chase & Co. by 1.4% in the 4th quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider's stock valued at $21,390,662,000 after acquiring an additional 939,421 shares in the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $11,396,496,000. Bank of New York Mellon Corp lifted its position in JPMorgan Chase & Co. by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider's stock valued at $7,547,837,000 after acquiring an additional 1,194,583 shares in the last quarter. Legal & General Group Plc lifted its position in JPMorgan Chase & Co. by 0.6% in 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 acquiring an additional 110,586 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in JPMorgan Chase & Co. by 1.9% in the 4th 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 acquiring an additional 296,213 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $319.36 on Tuesday. JPMorgan Chase & Co. has a twelve month low of $266.85 and a twelve month high of $337.25. The stock's 50 day moving average price is $306.78 and its 200-day moving average price is $307.14. The company has a market capitalization of $855.74 billion, a PE ratio of 15.30, a PEG ratio of 1.57 and a beta of 1.00. 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 announced its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping analysts' consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The firm had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. During the same quarter in the previous year, the business earned $5.07 EPS. The company's revenue was up 10.0% compared to the same quarter last year. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 22.4 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.'s payout ratio is presently 28.74%.

Analyst Ratings Changes

JPM has been the topic of several recent research reports. Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, February 24th. Robert W. Baird set a $295.00 price objective on JPMorgan Chase & Co. in a research note on Wednesday, April 15th. HSBC raised their price objective on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a "hold" rating in a research note on Monday, May 4th. Truist Financial raised their price objective on JPMorgan Chase & Co. from $323.00 to $332.00 and gave the company a "hold" rating in a research note on Wednesday, April 15th. Finally, Barclays restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of "Hold" and a consensus price target of $339.08.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorganChase declared dividends on its Series CC preferred stock, a routine but supportive signal that the bank continues returning capital to investors. JPMorganChase Declares Preferred Stock Dividends
• Positive Sentiment: The company announced it will hold a 2027 Investor Day in New York, which may help build confidence by giving management a platform to discuss long-term growth, capital plans, and strategy. JPMorganChase Announces 2027 Investor Day
• Positive Sentiment: JPMorgan’s trading desk said the market could see a broad risk-on move after the Iran-related peace news, which could favor cyclicals and financials like JPM if investor sentiment improves. Stock Market Poised for ‘Broad Risk-On Impulse,’ Says JPMorgan
• Neutral Sentiment: Several articles mentioned JPMorgan in market commentary and stock-picking notes, but they do not appear to change the bank’s fundamentals directly. Which is the Better Bank Stock to Buy: JPMorgan or Citigroup?
• Negative Sentiment: One broader theme in the market is a possible rotation toward higher-beta and cyclically sensitive names, which could slightly pressure defensive large-cap financial trades if investors shift away from quality premiums. Morgan Stanley’s Wilson Sees US Stock Market Rally Broadening

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 5,468 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total value of $1,641,876.36. Following the transaction, the general counsel owned 46,428 shares in the company, valued at $13,940,935.56. The trade was a 10.54% decrease in their position. The sale 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, COO Jennifer Piepszak sold 9,136 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total value of $2,800,732.16. Following the completion of the transaction, the chief operating officer owned 90,001 shares in the company, valued at $27,590,706.56. The trade was a 9.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,589 shares of company stock worth $8,747,496 over the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

About JPMorgan Chase & Co.

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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