JPMorgan Chase & Co. $JPM Stock Sold by Palisade Asset Management LLC

Palisade Asset Management LLC trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,954 shares of the financial services provider’s stock after selling 3,228 shares during the period. JPMorgan Chase & Co. accounts for 2.3% of Palisade Asset Management LLC’s holdings, making the stock its 8th largest position. Palisade Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $23,805,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in JPM. Bank of America Corp DE raised its holdings in JPMorgan Chase & Co. by 15.8% in the 1st quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider’s stock valued at $19,314,681,000 after acquiring an additional 8,941,351 shares in the last quarter. Ascentis Wealth Management LLC lifted its position in shares of JPMorgan Chase & Co. by 32,672.0% during the 2nd quarter. Ascentis Wealth Management LLC now owns 4,647,071 shares of the financial services provider’s stock valued at $1,521,126,000 after acquiring an additional 4,632,891 shares during the period. Jupiter Topco LLC bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $1,274,097,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of JPMorgan Chase & Co. by 31.5% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,944,004 shares of the financial services provider’s stock valued at $2,042,648,000 after acquiring an additional 1,662,250 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in shares of JPMorgan Chase & Co. by 22.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,020,990 shares of the financial services provider’s stock worth $2,625,511,000 after purchasing an additional 1,496,676 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on JPM shares. Weiss Ratings upgraded JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday. Jefferies Financial Group reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Friday, September 25th. UBS Group upped their price objective on shares of JPMorgan Chase & Co. from $395.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, November 2nd. Truist Financial increased their price objective on shares of JPMorgan Chase & Co. from $352.00 to $361.00 and gave the stock a “hold” rating in a research note on Wednesday, October 14th. Finally, Robert W. Baird raised their target price on shares of JPMorgan Chase & Co. from $305.00 to $312.00 and gave the company a “neutral” rating in a report on Wednesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $368.33.

Insider Activity

In other news, insider Robin Leopold sold 2,500 shares of the stock in a transaction 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 directly owned 71,047 shares in the company, valued at approximately $25,066,092.07. This represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.4%

Shares of JPMorgan Chase & Co. stock opened at $343.35 on Thursday. The firm’s 50 day moving average is $341.06 and its 200 day moving average is $324.40. The firm has a market capitalization of $911.80 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.03. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $366.50. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.31.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, October 13th. The financial services provider reported $5.75 EPS for the quarter, missing the consensus estimate of $5.94 by ($0.19). JPMorgan Chase & Co. had a net margin of 21.85% and a return on equity of 18.48%. The company had revenue of $50.17 billion during the quarter, compared to the consensus estimate of $51.23 billion. During the same period in the previous year, the company earned $5.07 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts forecast that JPMorgan Chase & Co. will post 23.95 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, October 31st. Stockholders of record on Tuesday, October 6th were issued a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a dividend yield of 1.9%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. The ex-dividend date was Tuesday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.68%.

More JPMorgan Chase & Co. News

Investors following JPM have been watching these news items:

• Positive Sentiment: JPMorgan is taking a lead role in Anthropic’s planned IPO, including domestic retail marketing and share allocations. The offering could be a major transaction, giving JPMorgan a chance to earn fees and showcase its investment-banking franchise; CEO Jamie Dimon’s participation also raises the bank’s profile. JPMorgan takes lead role in Anthropic IPO
• Neutral Sentiment: JPMorgan is lead arranger for a $2.85 billion financing package supporting CCC Intelligent Solutions’ buyout. The deal indicates continued lending activity, but the article provides no estimate of fees or likely effect on earnings. CCC Intelligent Solutions financing
• Negative Sentiment: A report says JPMorgan may sell about $2 billion of Qualtrics-related debt at roughly 85 cents on the dollar. If the bank holds the debt and sells at that discount, it could crystallize a loss; the article does not clarify the potential impact on JPMorgan’s results. JPMorgan may sell Qualtrics debt at a discount

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co. is a global financial services company serving consumers, businesses, institutional clients and governments. Its operations include consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. The company offers services such as deposit accounts, credit cards, mortgages, auto financing, lending, payment processing and investment advice. It also provides institutional clients with investment banking, markets, treasury and securities services, and commercial lending.