Schmidt P J Investment Management Inc. Reduces Stake in JPMorgan Chase & Co.

On October 28th, 2024, it was reported that Schmidt P J Investment Management Inc. has reduced its investment in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% during the third quarter of the year. This decision was disclosed in the firm's latest Form 13F filing with the Securities & Exchange Commission. As a result of this adjustment, the investment management firm now holds a total of 34,866 shares of JPMorgan Chase following a sale of 664 shares during the quarter. The financial giant represents approximately 1.3% of Schmidt P J Investment Management’s overall investment portfolio, making this its 24th largest holding. As of the end of the third quarter, Schmidt P J Investment Management's stake in JPMorgan Chase was valued at about $7,352,000.

Moreover, several other investment funds have also recently modified their stakes in JPMorgan Chase. Notably, International Assets Investment Management LLC acquired a new position in JPMorgan Chase worth approximately $1.89 billion during the third quarter. Swedbank AB also initiated a new investment of around $800 million in the first quarter. Additionally, Capital Research Global Investors increased its position in the bank by 23.3%, owning over 17 million shares valued at approximately $3.45 billion. Another significant increase was seen with Wulff Hansen & CO., which boosted its holdings by an impressive 19,920.7%, gaining ownership of nearly 2.8 million shares worth about $566 million. Granite Bay Wealth Management LLC also significantly raised its stake in JPMorgan Chase by 6,239.1%, acquiring over 1.4 million shares valued at $277 million in the second quarter. Overall, institutional investors now hold approximately 71.55% of JPMorgan Chase’s stock.

JPMorgan Chase & Co. Stock Performance

As of the latest trading day, JPMorgan Chase shares opened at $222.31. The company boasts a market capitalization of $638.40 billion, with a price-to-earnings ratio standing at 12.40 and a beta of 1.11. Over the past year, the stock has fluctuated between a low of $135.19 and a high of $225.92. The financial institution's quick and current ratios are both at 0.91, with a debt-to-equity ratio registered at 1.24. Notably, the fifty-day simple moving average and the two-hundred day simple moving average are currently positioned at $215.39 and $205.52, respectively.

Recent Earnings Report

JPMorgan Chase recently disclosed its quarterly earnings on October 11th. The firm reported earnings of $4.37 per share, surpassing analysts' expectations of $4.02 by $0.35. The company's quarterly revenue reached $43.32 billion, exceeding analyst projections of $41.43 billion. With a net margin of 20.32% and a return on equity of 17.26%, JPMorgan Chase's revenue for the quarter increased by 6.5% compared to the same period last year. In the previous year’s third quarter, the firm had reported earnings of $4.33 per share. Analysts predict that JPMorgan Chase will achieve earnings of 16.75 per share by the end of the current financial year.

Dividend Announcement

In recent news, JPMorgan Chase also declared a quarterly dividend of $1.25, scheduled for payment on October 31st to investors who were on record as of October 4th. This represents an annualized dividend of $5.00, providing a dividend yield of 2.25%. The previous quarterly dividend was $1.15, showing an increase. The current dividend payout ratio for JPMorgan Chase stands at 27.89%.

Analyst Insights

JPMorgan Chase has recently been the focus of various research notes. For instance, Keefe, Bruyette & Woods raised their price target for the stock from $209.00 to $211.00, holding a “market perform” rating as of July 9th. Oppenheimer adjusted its price target downwards from $234.00 to $232.00 while maintaining an “outperform” rating following developments noted on October 14th. Daiwa Capital Markets and Wells Fargo also modified their price targets. Nine analysts have rated the stock as a hold while eleven have issued buy ratings, placing the average stock rating at “Moderate Buy” and a consensus price target at $217.94, based on MarketBeat data.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. operates as a leading financial services provider globally, structured through four key segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB offers a broad range of services including deposit and lending products, cash management, mortgage origination, and various consumer services through digital banking channels and traditional banking locations.

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