Westpac Banking Corp Decreases Stock Holdings in JPMorgan Chase & Co. $JPM

Westpac Banking Corp lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,654 shares of the financial services provider’s stock after selling 1,762 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.8% of Westpac Banking Corp’s investment portfolio, making the stock its 8th biggest holding. Westpac Banking Corp’s holdings in JPMorgan Chase & Co. were worth $25,490,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $11,396,496,000. Cardano Risk Management B.V. raised its position in JPMorgan Chase & Co. by 889.3% in the 4th quarter. Cardano Risk Management B.V. now owns 8,673,530 shares of the financial services provider’s stock worth $2,794,785,000 after purchasing an additional 7,796,814 shares during the last quarter. American Assets Investment Management LLC lifted its holdings in JPMorgan Chase & Co. by 1,172.2% during the 4th quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider’s stock worth $728,024,000 after buying an additional 2,081,800 shares in the last quarter. Viking Global Investors LP lifted its holdings in JPMorgan Chase & Co. by 86.1% during the 2nd quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider’s stock worth $1,171,826,000 after buying an additional 1,870,386 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at $474,516,000. 71.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of recent research reports. Zacks Research upgraded JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Argus raised their price target on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 price objective for the company in a research report on Wednesday. Citigroup boosted their price objective on JPMorgan Chase & Co. from $325.00 to $360.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $418.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $358.67.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan continues to draw favorable analyst attention, with multiple reports saying it remains a strong long-term and momentum pick for investors. Wall Street Analysts Think JPMorgan Chase & Co. (JPM) Is a Good Investment: Is It?
• Positive Sentiment: Recent commentary highlighted JPMorgan’s earnings strength and AI-related growth themes in banking, which supports the view that the company can keep outperforming peers. JPMorgan Sees AI-Powered Growth For Banks; Stock Pops Into Buy Zone After Earnings Growth
• Positive Sentiment: JPMorgan was also cited as a top momentum candidate and long-term stock pick by Zacks, adding to the bullish sentiment around the shares. Are You Looking for a Top Momentum Pick? Why JPMorgan Chase & Co. (JPM) is a Great Choice
• Neutral Sentiment: The bank completed $9 billion in debt offerings, which is a routine capital-markets transaction that may help funding flexibility but is not clearly a major near-term catalyst. JPMorgan Chase Raises $9 Billion Through Debt Offerings
• Neutral Sentiment: JPMorgan’s broader market commentary on oil, Iran-related disruption, and global risks reflects its macro views, but these notes are more informative than directly stock-moving for JPM itself. Here’s what each additional month of Iran-conflict disruption means for oil prices
• Negative Sentiment: House lawmakers questioned former JPMorgan executive Jes Staley over Epstein-related ties, which keeps reputational and legal-overhang concerns in the background for the bank. House lawmakers grill former JPMorgan executive Jes Staley over Epstein ties

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,919 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the transaction, the chief operating officer owned 85,082 shares of the company’s stock, valued at approximately $26,326,072.44. The trade was a 5.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the general counsel owned 46,428 shares of the company’s stock, valued at $13,940,935.56. This trade represents a 10.54% 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. Over the last quarter, insiders have sold 18,876 shares of company stock valued at $5,907,051. 0.41% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Trading Up 0.9%

NYSE JPM opened at $352.88 on Friday. The firm has a market cap of $945.55 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.56 and a beta of 0.99. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.86. The stock’s 50-day moving average is $323.74 and its 200-day moving average is $311.13. JPMorgan Chase & Co. has a one year low of $279.10 and a one year high of $353.37.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.59 by $0.55. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business had revenue of $58.02 billion for the quarter, compared to analysts’ expectations of $50.72 billion. During the same quarter in the previous year, the business posted $4.96 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 27.7% on a year-over-year basis. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 23.97 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.71%.

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.