55,209 JPMorgan Chase & Co. $JPM Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,431,356 shares of the financial services provider’s stock after selling 55,209 shares during the period. Pictet Asset Management Holding SA’s holdings in JPMorgan Chase & Co. were worth $473,600,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in JPM. Horizons Wealth Management bought a new position in JPMorgan Chase & Co. during the 3rd quarter worth about $31,000. Aventus Investment Advisors Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $33,000. Timbuktu Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $50,000. Team Financial Group LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $50,000. Finally, NI Acquisitions Company LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $51,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total value of $882,025.00. Following the transaction, the insider directly owned 71,047 shares of the company’s stock, valued at approximately $25,066,092.07. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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. 0.41% of the stock is currently owned by company insiders.

Trending Headlines about JPMorgan Chase & Co.

These are some of the JPM headlines that stood out recently:

• 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. Stock Performance

JPM stock opened at $343.35 on Thursday. The firm has a market cap of $911.80 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.35 and a beta of 1.03. The firm has a 50-day simple moving average of $341.06 and a two-hundred day simple moving average of $324.40. JPMorgan Chase & Co. has a one year low of $279.10 and a one year high of $366.50. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.85 and a current ratio of 0.85.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th were paid a $1.65 dividend. This represents a $6.60 annualized dividend and a yield of 1.9%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50. The ex-dividend date was Tuesday, October 6th. JPMorgan Chase & Co.’s payout ratio is 27.68%.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of recent research reports. UBS Group increased their price objective on shares of JPMorgan Chase & Co. from $395.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, November 2nd. Citigroup reduced their price objective on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set a “neutral” rating for the company in a research note on Thursday, October 15th. The Goldman Sachs Group restated an “outperform” rating and set a $392.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, October 13th. Weiss Ratings raised JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday. Finally, Robert W. Baird lifted their price target on JPMorgan Chase & Co. from $305.00 to $312.00 and gave the company a “neutral” rating in a report on Wednesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average price target of $368.33.

JPMorgan Chase & Co. Company 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.