Prudential PLC Sells 7,463 Shares of JPMorgan Chase & Co. $JPM

Prudential PLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 257,967 shares of the financial services provider’s stock after selling 7,463 shares during the quarter. JPMorgan Chase & Co. comprises about 0.7% of Prudential PLC’s holdings, making the stock its 21st biggest holding. Prudential PLC’s holdings in JPMorgan Chase & Co. were worth $83,122,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new position in JPMorgan Chase & Co. in the 4th quarter worth $11,396,496,000. Bank of New York Mellon Corp raised its holdings 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 worth $7,547,837,000 after purchasing an additional 1,194,583 shares in the last quarter. Legal & General Group Plc raised its holdings 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 worth $6,128,484,000 after purchasing an additional 110,586 shares in the last quarter. Fisher Asset Management LLC raised its holdings 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 worth $5,161,532,000 after purchasing an additional 296,213 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in JPMorgan Chase & Co. by 2.3% in the 3rd 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 related news, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the sale, the general counsel directly owned 46,428 shares of the company’s stock, valued at approximately $13,940,935.56. This represents a 10.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction dated Tuesday, May 5th. The shares were 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 in the company, valued at $10,036,641.58. This trade represents a 8.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 28,589 shares of company stock valued at $8,747,496. Company insiders own 0.41% of the company’s stock.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan’s legal win in the Tricolor case removes one overhang, as a lawsuit accusing the bank of missing fraud “red flags” was dismissed. JPMorgan, Barclays, Fifth Third defeat lawsuit over missed ‘red flags’ at Tricolor
• Positive Sentiment: The bank continues to be viewed as a leader in digital finance, with reports highlighting its push into tokenized deposits and blockchain-based payments, which could support future fee growth and payments leadership. JPMorgan Chase Tests Tokenized Deposits And Quantum AI For Future Payments
• Positive Sentiment: JPMorgan is also expanding its AI ambitions, planning more autonomous AI agents across banking operations, reinforcing its reputation for operational efficiency and innovation. JPMorgan Chase plans to deploy more powerful AI agents this year
• Neutral Sentiment: JPMorgan said consumers are still spending, but the cushion against higher prices is thinning, suggesting a mixed outlook for credit quality and loan demand. JPMorgan Watching Consumer Spending as Inflation Creeps Up
• Neutral Sentiment: JPMorgan is facing a widening government investigation into alleged politically motivated account closures, which adds reputational and regulatory uncertainty, though no wrongdoing has been established. US Justice Department subpoenas major banks over alleged ‘debanking’, WSJ reports
• Neutral Sentiment: Market headlines around inflation and interest rates may also be influencing JPMorgan, since hotter CPI data can affect Fed policy and bank earnings dynamics. May Inflation Hits 4.2% as Energy Prices Surge, Raising Pressure on Federal Reserve

Wall Street Analysts Forecast Growth

JPM has been the subject of several research reports. Keefe, Bruyette & Woods restated an “outperform” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, February 24th. Argus upped their price objective on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. UBS Group decreased their price objective on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a report on Wednesday, May 6th. Robert W. Baird set a $295.00 price objective on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Finally, Jefferies Financial Group reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $339.08.

JPMorgan Chase & Co. Stock Down 0.9%

NYSE:JPM opened at $309.78 on Thursday. The firm’s 50-day moving average price is $305.39 and its 200-day moving average price is $306.75. The company has a market capitalization of $830.05 billion, a PE ratio of 14.84, a P/E/G ratio of 1.53 and a beta of 1.00. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. JPMorgan Chase & Co. has a 1-year low of $262.71 and a 1-year high of $337.25.

JPMorgan Chase & Co. (NYSE:JPM) last released 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. The firm had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.07 EPS. On average, equities analysts predict that JPMorgan Chase & Co. will post 22.4 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio 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.