Parnassus Investments LLC Reduces Holdings in JPMorgan Chase & Co. $JPM

Parnassus Investments LLC trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 500,909 shares of the financial services provider’s stock after selling 22,749 shares during the period. Parnassus Investments LLC’s holdings in JPMorgan Chase & Co. were worth $161,403,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Roxbury Financial LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.4% in the fourth quarter. Roxbury Financial LLC now owns 8,011 shares of the financial services provider’s stock worth $2,581,000 after buying an additional 31 shares during the last quarter. Collective Family Office LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.0% in the fourth quarter. Collective Family Office LLC now owns 3,339 shares of the financial services provider’s stock worth $1,076,000 after buying an additional 32 shares during the last quarter. Rialto Wealth Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 3.6% in the third quarter. Rialto Wealth Management LLC now owns 962 shares of the financial services provider’s stock worth $304,000 after buying an additional 33 shares during the last quarter. Essential Planning LLC. lifted its holdings in JPMorgan Chase & Co. by 2.4% during the fourth quarter. Essential Planning LLC. now owns 1,399 shares of the financial services provider’s stock valued at $451,000 after purchasing an additional 33 shares in the last quarter. Finally, Tevis Investment Management lifted its holdings in JPMorgan Chase & Co. by 0.8% during the third quarter. Tevis Investment Management now owns 4,238 shares of the financial services provider’s stock valued at $1,337,000 after purchasing an additional 34 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JPM has been the topic of several analyst reports. Zacks Research downgraded shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Evercore lifted their price target on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Barclays reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, May 6th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, February 24th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Fourteen research 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 an average rating of “Hold” and an average target price of $339.08.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: JPMorgan’s global expansion remains a positive, including reports that it has deployed $20 billion in the Gulf and doubled its private bankers in Singapore, signaling continued growth in wealth management and international banking. Article: JP Morgan deploys $20bn in Gulf and says postwar rebuild may cost hundreds of billions
• Positive Sentiment: The company continues to benefit from investor optimism around higher-for-longer rates after hotter inflation data, which can support bank lending margins and trading activity. Article: May Inflation Hits 4.2% as Energy Prices Surge, Raising Pressure on Federal Reserve
• Positive Sentiment: JPMorgan’s involvement in tokenized treasuries and digital-asset market infrastructure suggests it is positioned to benefit if regulated crypto adoption continues to grow. Article: Tokenized Treasuries Are Moving Onto the XRP Ledger
• Neutral Sentiment: Jamie Dimon’s comments on Mexico’s economy and trade highlight JPMorgan’s active role in global corporate and sovereign banking, but the direct stock impact is limited. Article: JPMorgan’s Jamie Dimon Praises the Mexican Economy
• Neutral Sentiment: JPMorgan also had several analyst-related headlines on other companies, but these are mostly read-throughs and do not materially change the bank’s own outlook. Article: Coherent and Lumentum just got more attractive, according to J.P. Morgan
• Negative Sentiment: The DOJ has subpoenaed JPMorgan in a widening “debanking” investigation, creating a potential legal and reputational risk for the bank. Article: US Justice Department subpoenas major banks over alleged ‘debanking’
• Negative Sentiment: JPMorgan and other banks also lost a lawsuit over alleged missed red flags at Tricolor, which may keep credit-risk concerns in focus. Article: JPMorgan, Barclays, Fifth Third defeat lawsuit over missed ‘red flags’ at Tricolor

JPMorgan Chase & Co. Price Performance

JPM stock opened at $313.85 on Friday. JPMorgan Chase & Co. has a one year low of $262.71 and a one year high of $337.25. The company’s fifty day moving average price is $305.78 and its 200-day moving average price is $306.87. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $840.97 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.51 and a beta of 1.00.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping the consensus estimate of $5.50 by $0.44. The business had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.07 EPS. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 22.4 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.74%.

Insider Transactions at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 9,136 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total value of $2,800,732.16. Following the transaction, the chief operating officer directly owned 90,001 shares of the company’s stock, valued at approximately $27,590,706.56. The trade was a 9.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,589 shares of company stock valued at $8,747,496 in the last ninety days. Corporate insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. 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.