Norris Perne & French Raises JPMorgan Stake 69.6%; Perigon Wealth Grows 6%
Norris Perne & French LLP MI increased its JPMorgan Chase & Co. holdings by 69.6%, purchasing an additional 7,624 shares to reach 18,572 shares worth $5,858,000 in Q3. Perigon Wealth Management LLC raised its position by 6.0% with 7,427 new shares, lifting its total to 131,018 shares valued at $41,327,000.
1. Institutional Investors Boost Holdings
Norris Perne & French LLP MI increased its stake in JPMorgan Chase by 69.6% during the third quarter, acquiring an additional 7,624 shares to bring its total to 18,572 shares valued at approximately $5.86 million. Perigon Wealth Management LLC also raised its position by 6.0%, adding 7,427 shares for a total of 131,018 shares worth about $41.33 million. Other institutional investors including Peterson Wealth Advisors, TradeWell Securities and Sharkey Howes & Javer made incremental purchases as well. Institutional and hedge fund ownership now accounts for roughly 71.6% of outstanding shares, underscoring broad confidence in the firm’s long-term prospects.
2. Third-Quarter Results Exceed Expectations
In the third quarter, JPMorgan Chase reported earnings per share of $5.07, surpassing the consensus estimate by $0.24, while revenue reached $47.12 billion, topping forecasts by nearly $2.7 billion and reflecting an 8.8% year-over-year increase. The bank delivered a return on equity of 17.18% and a net margin of 20.90%, driven by strength in both its Consumer & Community Banking and Corporate & Investment Banking segments. These results mark a continuation of steady core profitability despite a challenging interest-rate environment.
3. Dividend Policy and Analyst Sentiment
JPMorgan Chase declared a quarterly dividend of $1.50 per share, representing an annualized payout of $6.00 and a payout ratio of 29.7%. This distribution is payable to shareholders of record in early January, reinforcing the firm’s commitment to returning capital. Among sell-side analysts, fifteen maintain Buy ratings, nine recommend holding and three advise selling, resulting in a consensus rating of Hold. The prevailing view highlights the bank’s resilient earnings power and balanced capital return strategy as key drivers for investor interest.