Convergence Investment Partners LLC Decreases Position in JPMorgan Chase & Co. $JPM

Convergence Investment Partners LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 14.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,957 shares of the financial services provider’s stock after selling 2,516 shares during the period. Convergence Investment Partners LLC’s holdings in JPMorgan Chase & Co. were worth $4,400,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Timmons Wealth Management LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth $27,000. MBM Wealth Consultants LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth about $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at about $32,000. Osbon Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $35,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM opened at $352.88 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The firm has a market cap of $945.55 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.54 and a beta of 0.99. The stock’s 50-day moving average price is $323.74 and its 200 day moving average price is $311.13. JPMorgan Chase & Co. has a 12-month low of $279.10 and a 12-month high of $353.37.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarterly revenue was up 27.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.96 earnings per share. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 23.59 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.71%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,919 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the sale, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at approximately $26,326,072.44. This represents a 5.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total transaction of $935,037.02. Following the sale, the chief financial officer directly owned 32,438 shares of the company’s stock, valued at approximately $10,036,641.58. This trade represents a 8.52% decrease in their ownership of the stock. 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 sold a total of 18,876 shares of company stock worth $5,907,051 over the last 90 days. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on JPM shares. Bank of America lifted their price objective on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Evercore reaffirmed an “outperform” rating and issued a $360.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. Daiwa Securities Group reduced their price target on JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. The Goldman Sachs Group reissued a “buy” rating and set a $418.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Finally, Robert W. Baird raised their price objective on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $358.67.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan continues to draw favorable analyst attention, with multiple reports saying it remains a strong long-term and momentum pick for investors. Wall Street Analysts Think JPMorgan Chase & Co. (JPM) Is a Good Investment: Is It?
• Positive Sentiment: Recent commentary highlighted JPMorgan’s earnings strength and AI-related growth themes in banking, which supports the view that the company can keep outperforming peers. JPMorgan Sees AI-Powered Growth For Banks; Stock Pops Into Buy Zone After Earnings Growth
• Positive Sentiment: JPMorgan was also cited as a top momentum candidate and long-term stock pick by Zacks, adding to the bullish sentiment around the shares. Are You Looking for a Top Momentum Pick? Why JPMorgan Chase & Co. (JPM) is a Great Choice
• Neutral Sentiment: The bank completed $9 billion in debt offerings, which is a routine capital-markets transaction that may help funding flexibility but is not clearly a major near-term catalyst. JPMorgan Chase Raises $9 Billion Through Debt Offerings
• Neutral Sentiment: JPMorgan’s broader market commentary on oil, Iran-related disruption, and global risks reflects its macro views, but these notes are more informative than directly stock-moving for JPM itself. Here’s what each additional month of Iran-conflict disruption means for oil prices
• Negative Sentiment: House lawmakers questioned former JPMorgan executive Jes Staley over Epstein-related ties, which keeps reputational and legal-overhang concerns in the background for the bank. House lawmakers grill former JPMorgan executive Jes Staley over Epstein ties

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.