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

On October 28, 2024, it was reported that Schmidt P J Investment Management Inc. has decreased its investment in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% during the third quarter of the year, as outlined in their recent Form 13F filing with the Securities and Exchange Commission. Following this adjustment, the institutional investor now holds 34,866 shares of the banking giant, having sold 664 shares in the process. Notably, JPMorgan Chase & Co. represents about 1.3% of Schmidt P J Investment Management Inc.'s total investment portfolio, ranking it as the 24th largest holding for the firm. At the conclusion of the last quarter, these holdings were valued at approximately $7,352,000.

In addition to Schmidt P J Investment Management's actions, several other hedge funds have also been active in altering their positions in JPMorgan Chase & Co. During the third quarter, International Assets Investment Management LLC acquired a fresh stake in the company valued at $1,888,088,000. Similarly, during the first quarter, Swedbank AB made a significant investment in JPMorgan Chase with a value around $800,130,000. Meanwhile, Capital Research Global Investors increased its position by 23.3% in the first quarter, now owning 17,200,124 shares valued at approximately $3,445,185,000 after acquiring an additional 3,252,451 shares. Wulff Hansen & CO. showed exceptional growth, raising its stake in JPMorgan Chase by a remarkable 19,920.7% in the second quarter, resulting in ownership of 2,801,503 shares now worth around $566,632,000. Moreover, Granite Bay Wealth Management LLC enhanced its holdings considerably by 6,239.1% during the same quarter, bringing its total to 1,418,572 shares valued at $277,456,000. Overall, institutional investors control 71.55% of JPMorgan Chase & Co.'s stock.

Current Performance of JPMorgan Chase & Co.

As of Monday, JPMorgan Chase stock opened at $222.31. The company boasts a market capitalization of $638.40 billion, with a price-to-earnings ratio of 12.40. Moreover, the firm's PEG ratio stands at 3.28, and it has a beta value of 1.11. The stock has experienced fluctuations over the past year, with a low of $135.19 and a high of $225.92. Additionally, JPMorgan Chase has a quick ratio of 0.91, a current ratio also of 0.91, and a debt-to-equity ratio of 1.24. Its recent fifty-day simple moving average is at $215.39, while the two-hundred-day average is at $205.52.

On October 11, 2024, JPMorgan Chase & Co. released its quarterly earnings report, announcing earnings per share of $4.37, which exceeded analysts’ estimates of $4.02 by $0.35. The company revealed revenue of $43.32 billion for the quarter, surpassing expectations of $41.43 billion. Additionally, JPMorgan Chase achieved a net margin of 20.32% and a return on equity of 17.26%. Year-over-year, the firm’s revenue saw a growth of 6.5%, compared to $4.33 EPS in the same period last year. Analysts are forecasting an earnings per share figure of 16.75 for the current year for JPMorgan Chase & Co.

Dividend Increase Announced

JPMorgan Chase recently revealed that it will be paying a quarterly dividend of $1.25 on October 31, 2024. Shareholders who were on record as of October 4, 2024, will receive this dividend, signifying an annualized dividend of $5.00, which translates to a dividend yield of 2.25%. This marks an increase from the previous quarterly dividend of $1.15, with a current dividend payout ratio of 27.89%.

Market Analyst Perspectives

JPMorgan Chase has been frequently evaluated in various research reports. For instance, Keefe, Bruyette & Woods raised their price target on JPMorgan Chase from $209.00 to $211.00, while assigning a “market perform” rating in a note from July 9, 2024. Oppenheimer recently adjusted their target down from $234.00 to $232.00 but maintains an “outperform” rating. Daiwa Capital Markets also altered their expectations, reducing their price target from $240.00 to $235.00 with an “overweight” rating. Wells Fargo & Company has provided a more optimistic outlook, increasing their price goal from $220.00 to $225.00 alongside an “overweight” rating. Similarly, BMO Capital Markets has lifted its price target from $195.00 to $205.00, keeping a “market perform” rating in the latest assessment. Currently, the stock holds an average rating of “Moderate Buy” from nine analysts and eleven analysts advocating for buy ratings, with a consensus target price of $217.94.

Overview of JPMorgan Chase & Co.

JPMorgan Chase & Co. is a prominent global financial services firm operating through four primary segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment provides an array of services including deposit accounts, lending products, cash management, mortgage origination, and various consumer products accessible through multiple channels such as branches, ATMs, and digital platforms.

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