JPMorgan Chase & Co. $JPM Stake Cut by Kimelman & Baird LLC

Kimelman & Baird LLC decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 231,570 shares of the financial services provider’s stock after selling 3,836 shares during the period. JPMorgan Chase & Co. accounts for 5.7% of Kimelman & Baird LLC’s investment portfolio, making the stock its 2nd largest position. Kimelman & Baird LLC’s holdings in JPMorgan Chase & Co. were worth $74,617,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in JPM. Legal & General Group Plc increased its stake in JPMorgan Chase & Co. by 3.3% in the 3rd quarter. Legal & General Group Plc now owns 18,908,978 shares of the financial services provider’s stock worth $5,964,459,000 after acquiring an additional 607,025 shares during the last quarter. Fisher Asset Management LLC increased its stake in JPMorgan Chase & Co. by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 15,722,443 shares of the financial services provider’s stock worth $4,959,330,000 after acquiring an additional 347,033 shares during the last quarter. Invesco Ltd. increased its stake in JPMorgan Chase & Co. by 2.3% in the 3rd quarter. Invesco Ltd. now owns 14,655,153 shares of the financial services provider’s stock worth $4,622,675,000 after acquiring an additional 322,735 shares during the last quarter. Boston Partners increased its stake in JPMorgan Chase & Co. by 2.3% in the 3rd quarter. Boston Partners now owns 7,492,763 shares of the financial services provider’s stock worth $2,360,045,000 after acquiring an additional 168,184 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in JPMorgan Chase & Co. by 19.6% in the 3rd quarter. California Public Employees Retirement System now owns 6,615,749 shares of the financial services provider’s stock worth $2,086,806,000 after acquiring an additional 1,082,913 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction dated 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 sale, the general counsel directly owned 46,428 shares in the company, valued at $13,940,935.56. This represents a 10.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $295.06, for a total value of $127,760.98. Following the sale, the insider owned 64,920 shares of the company’s stock, valued at $19,155,295.20. This represents a 0.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 28,589 shares of company stock valued at $8,747,496. 0.41% of the stock is owned by insiders.

JPMorgan Chase & Co. Trading Down 2.5%

Shares of JPM stock opened at $299.04 on Thursday. The stock has a market capitalization of $801.27 billion, a PE ratio of 14.32, a P/E/G ratio of 1.50 and a beta of 1.03. JPMorgan Chase & Co. has a 1-year low of $260.31 and a 1-year high of $337.25. The business has a 50-day moving average of $302.05 and a 200 day moving average of $306.96. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.44. The company had revenue of $50.54 billion during the quarter, compared to analysts’ expectations of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.JPMorgan Chase & Co.’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $5.07 EPS. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, July 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.74%.

Key Stories Impacting JPMorgan Chase & Co.

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

• Negative Sentiment: JPMorgan may spend heavily on acquisitions, which could reduce capital flexibility and pressure returns if deals are expensive or hard to integrate. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
• Negative Sentiment: Dimon said earnings may not stay at current levels and that costs are likely to rise, which raises concerns about margin pressure. JPMorgan Chase Stock Is Falling: What’s Happening Today?
• Neutral Sentiment: The bank also announced it will redeem $2.0 billion of Series KK preferred stock, a routine capital-management move that is not likely to change the investment thesis on its own. JPMorgan Chase to Redeem Series KK Preferred Stock
• Positive Sentiment: Dimon’s willingness to consider large acquisitions also reflects confidence in JPMorgan’s excess capital and long-term growth options, which could support the stock over time if management finds attractive targets. Jamie Dimon says JPMorgan could spend up to $20bn on a new acquisition

Analyst Ratings Changes

A number of brokerages have weighed in on JPM. Jefferies Financial Group restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Royal Bank Of Canada restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Truist Financial upped their target price on JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a “hold” rating in a research note on Wednesday, April 15th. Autonomous Res decreased their target price on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a research note on Monday, April 6th. Finally, Piper Sandler upped their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Fifteen analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $339.08.

JPMorgan Chase & Co. Company 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.