2,502 JPMorgan Chase & Co. $JPM Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,831 shares of the financial services provider’s stock after selling 2,502 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in JPMorgan Chase & Co. were worth $32,035,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JPM. Horizons Wealth Management bought a new stake in JPMorgan Chase & Co. in the third quarter worth $31,000. Aventus Investment Advisors Inc. bought a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $33,000. Team Financial Group LLC bought a new stake in JPMorgan Chase & Co. in the third quarter worth about $50,000. Timbuktu Capital Management LLC bought a new stake in JPMorgan Chase & Co. in the second quarter worth about $50,000. Finally, NI Acquisitions Company LLC bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $51,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. News Roundup

Investors following JPM have been watching these news items:

• Positive Sentiment: JPMorgan’s role in Anthropic’s potential IPO—including retail marketing and share allocations—could generate fees and showcase its investment-banking capabilities if the offering proceeds. Article: JPMorgan Chase Takes Lead Role In A Major AI IPO
• Neutral Sentiment: Hot inflation has renewed attention to Federal Reserve rate risks. Higher rates may affect bank earnings in multiple ways, while the article highlights JPMorgan’s liquidity and earnings resilience rather than identifying a new company-specific development. Article: Inflation Stays Hot: 3 Financial Stocks to Watch
• Negative Sentiment: A report notes that JPMorgan’s CFO has warned of weaker credit ahead. Potential deterioration in borrowers’ ability to repay could raise credit costs and pressure earnings, tempering the positive case for the bank’s dividend increase and long-term returns. Article: America’s Biggest Bank Turned $1,000 Into $5,559 in Ten Years

Wall Street Analyst Weigh In

A number of research firms have weighed in on JPM. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 14th. Freedom Broker raised shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 15th. Deutsche Bank upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 price target for the company in a report on Wednesday, July 22nd. Zacks Research lowered JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 14th. Finally, TD Cowen initiated coverage on JPMorgan Chase & Co. in a research note on Thursday, October 8th. They set a “hold” rating and a $370.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $368.33.

JPMorgan Chase & Co. Stock Down 0.1%

NYSE:JPM opened at $343.10 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $366.50. The stock has a market capitalization of $911.15 billion, a P/E ratio of 14.39, a P/E/G ratio of 1.36 and a beta of 1.03. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.85 and a current ratio of 0.85. The company’s 50-day simple moving average is $340.80 and its 200-day simple moving average is $324.61.

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

JPMorgan Chase & Co. Increases Dividend

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

Insider Activity

In other 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 transaction of $882,025.00. Following the completion of the sale, the insider directly owned 71,047 shares in the company, 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 filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. 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.