Vestcor Inc Cuts Holdings in JPMorgan Chase & Co. $JPM

Vestcor Inc reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,238 shares of the financial services provider’s stock after selling 2,534 shares during the period. Vestcor Inc’s holdings in JPMorgan Chase & Co. were worth $19,001,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JPM. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $10,295,209,000. Laurel Wealth Advisors LLC boosted its position in shares of JPMorgan Chase & Co. by 28,813.7% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 16,785,584 shares of the financial services provider’s stock valued at $4,866,309,000 after acquiring an additional 16,727,530 shares during the last quarter. Viking Global Investors LP grew its holdings in shares of JPMorgan Chase & Co. by 86.1% in the second quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider’s stock valued at $1,171,826,000 after purchasing an additional 1,870,386 shares in the last quarter. KBC Group NV increased its position in JPMorgan Chase & Co. by 56.3% in the second quarter. KBC Group NV now owns 2,566,562 shares of the financial services provider’s stock worth $744,072,000 after purchasing an additional 924,915 shares during the last quarter. Finally, Mawer Investment Management Ltd. increased its position in JPMorgan Chase & Co. by 187.5% in the second quarter. Mawer Investment Management Ltd. now owns 1,241,969 shares of the financial services provider’s stock worth $360,059,000 after purchasing an additional 809,976 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,404 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $312.80, for a total value of $1,064,771.20. Following the transaction, the general counsel owned 65,353 shares of the company’s stock, valued at $20,442,418.40. This represents a 4.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 50,000 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $307.11, for a total value of $15,355,500.00. Following the completion of the sale, the chief executive officer owned 111,279 shares in the company, valued at approximately $34,174,893.69. The trade was a 31.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 71,596 shares of company stock worth $22,067,932 over the last quarter. 0.47% of the stock is owned by insiders.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: Zacks upgraded JPMorgan to a Strong Buy, highlighting favorable earnings prospects and dividend appeal which could attract long-term buyers. JPMorgan Chase & Co. (JPM) Upgraded to Strong Buy
• Neutral Sentiment: A Fortune profile on CEO Jamie Dimon (age 70) is largely human-interest; it reinforces stable leadership but is unlikely to move the share price materially. Jamie Dimon profile — Fortune
• Neutral Sentiment: JPMorgan warns of “persistent” retail investor fatigue amid Iran-related market stress; this points to weaker market breadth and can amplify bank-sector weakness during risk-off episodes. Retail investor fatigue — MarketWatch
• Negative Sentiment: JPMorgan has restricted lending to private-credit firms after marking down collateral values for software loans — a sign the bank is pulling back risk exposure and facing valuation/liquidity pressure in the $2T private-credit market. That action directly pressures profitability and increases uncertainty for future fee income. JPMorgan restricts private-credit lending — Reuters
• Negative Sentiment: Relatedly, the firm marked down and repriced loans to AI?exposed software companies, signaling credit-quality concerns in tech/private-credit portfolios — this can hit net interest margin and provoke further provisioning. JPMorgan reprices AI-exposed software loans — Yahoo
• Negative Sentiment: JPMorgan faces a proposed class action alleging it enabled a $328M crypto Ponzi; legal exposure and potential compliance reputational costs add to near-term risk and headline sensitivity for the stock. JPMorgan sued over alleged role in $328M crypto Ponzi — Cointelegraph

Wall Street Analyst Weigh In

Several equities analysts have commented on JPM shares. Wells Fargo & Company lowered their price objective on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set an “overweight” rating for the company in a research report on Tuesday, February 17th. Truist Financial reduced their target price on shares of JPMorgan Chase & Co. from $334.00 to $330.00 in a report on Wednesday, February 25th. The Goldman Sachs Group upped their target price on shares of JPMorgan Chase & Co. from $386.00 to $397.00 and gave the company a “buy” rating in a research report on Monday, January 26th. CICC Research started coverage on shares of JPMorgan Chase & Co. in a report on Wednesday, January 14th. They issued an “outperform” rating and a $355.00 price target for the company. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and twelve 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 $340.00.

JPMorgan Chase & Co. Trading Up 1.2%

JPMorgan Chase & Co. stock traded up $3.34 during midday trading on Friday, reaching $286.23. The stock had a trading volume of 1,937,441 shares, compared to its average volume of 11,136,328. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.27. The firm has a market cap of $771.97 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 1.19 and a beta of 1.06. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $337.25. The company has a fifty day moving average of $307.57 and a 200 day moving average of $308.38.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, January 13th. The financial services provider reported $5.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.93 by $0.30. The business had revenue of $45.80 billion during the quarter, compared to analyst estimates of $45.98 billion. JPMorgan Chase & Co. had a return on equity of 17.16% and a net margin of 20.35%.The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.81 earnings per share. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

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.