Westchester Capital Management Inc. Decreases Stock Holdings in JPMorgan Chase & Co. $JPM

Westchester Capital Management Inc. cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,392 shares of the financial services provider’s stock after selling 1,913 shares during the period. JPMorgan Chase & Co. accounts for 5.5% of Westchester Capital Management Inc.’s portfolio, making the stock its 7th largest holding. Westchester Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $26,548,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $11,396,496,000. Bank of New York Mellon Corp increased its stake in shares of 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 in the last quarter. Legal & General Group Plc increased its stake in shares of 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 in the last quarter. Fisher Asset Management LLC increased its stake in shares of JPMorgan Chase & Co. by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider’s stock worth $5,161,532,000 after purchasing an additional 296,213 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of JPMorgan Chase & Co. by 2.3% in the third quarter. Invesco Ltd. now owns 14,655,153 shares of the financial services provider’s stock worth $4,622,675,000 after purchasing an additional 322,735 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Jeremy Barnum sold 3,022 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the sale, the chief financial officer owned 32,438 shares in the company, valued at approximately $10,036,641.58. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the completion of the sale, the chief operating officer owned 85,082 shares of the company’s stock, valued at $26,326,072.44. This trade represents a 5.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,589 shares of company stock worth $8,747,496 over the last 90 days. Insiders own 0.41% of the company’s stock.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: Erste Group raised its FY2027 earnings estimate for JPMorgan, signaling confidence in the bank’s longer-term profitability; it now expects $23.55 per share versus a prior $23.47. MarketBeat earnings estimate update
• Positive Sentiment: JPMorgan is deepening its presence in the Charlotte suburbs with new branch openings, a sign of continued retail banking expansion and customer acquisition. Business Journals article
• Positive Sentiment: Several recent commentary pieces highlighted JPMorgan as an attractive stock to own, reinforcing the view that investors still see it as a high-quality banking franchise. Yahoo Finance article
• Neutral Sentiment: Media coverage around Jamie Dimon’s criticism of crypto regulation and the “debanking” probe keeps JPMorgan in the regulatory spotlight, but these stories are more about policy debate than immediate fundamentals. Benzinga article
• Negative Sentiment: The Justice Department’s sweeping “debanking” investigation into JPMorgan and other large banks adds a legal and reputational overhang that could weigh on sentiment if the probe intensifies. New York Post/Reuters coverage

Analysts Set New Price Targets

JPM has been the subject of a number of analyst reports. Argus increased their price objective on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Autonomous Res reduced their price objective on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, February 24th. UBS Group cut their target price on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus target price of $339.08.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $320.55 on Friday. JPMorgan Chase & Co. has a 52 week low of $262.71 and a 52 week high of $337.25. The stock has a market capitalization of $858.93 billion, a P/E ratio of 15.35, a PEG ratio of 1.53 and a beta of 1.00. The firm has a fifty day simple moving average of $306.29 and a two-hundred day simple moving average of $306.96. 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) last released its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.44. The firm had revenue of $50.54 billion during the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business earned $5.07 EPS. On average, analysts expect that JPMorgan Chase & Co. will post 22.4 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

JPMorgan Chase & Co. Company 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.