JPMorgan Chase & Co. $JPM Shares Sold by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 7.7% during the fourth quarter, Holdings Channel reports. The fund owned 22,884 shares of the financial services provider’s stock after selling 1,908 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.8% of Steel Grove Capital Advisors LLC’s investment portfolio, making the stock its 15th largest position. Steel Grove Capital Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $7,374,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Turning Point Benefit Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth about $35,000. Merrithew & Thorsten Inc bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $40,000. WHI TRUST Co LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $45,000. Cresta Advisors Ltd. bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $48,000. Finally, Miller Global Investments LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $52,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: Jamie Dimon is personally promoting SpaceX’s expected blockbuster IPO to 2,500 ultra-wealthy JPMorgan clients, highlighting JPMorgan’s ability to win marquee mandates and generate advisory and placement fees. Reuters article on Dimon discussing SpaceX IPO roadshow
• Positive Sentiment: Reports say JPMorgan is also looking at acquisition opportunities, with CEO Jamie Dimon previously suggesting the bank could deploy $10 billion to $20 billion for a deal, which could support growth if executed well. Yahoo Finance article on acquisition opportunities
• Neutral Sentiment: JPMorgan and other major banks are planning a tokenized deposit system to compete with stablecoins and crypto firms, a longer-term strategic move that could help defend the payments business but is not an immediate earnings driver. WSJ article on tokenized deposit system
• Neutral Sentiment: JPMorgan disclosed that some affiliated entities exited a substantial holder position in PLS Group and increased a stake in a2 Milk, but these are portfolio actions by affiliates and are unlikely to move JPMorgan’s shares meaningfully. TipRanks article on PLS Group filing
• Negative Sentiment: Some commentary from JPMorgan has warned that the crypto-focused CLARITY Act faces a narrow path to passage, underscoring ongoing policy uncertainty in an area the bank is watching closely. Benzinga article on CLARITY Act timing

Analyst Upgrades and Downgrades

JPM has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set an “overweight” rating for the company in a report on Tuesday, February 17th. UBS Group decreased their price objective on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a report on Wednesday, May 6th. Autonomous Res cut their target price on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. Barclays restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, May 6th. Finally, 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 report on Wednesday, April 15th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Hold” and an average price target of $339.08.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $310.99 on Friday. The firm’s 50 day moving average is $303.54 and its 200-day moving average is $306.44. The stock has a market capitalization of $833.29 billion, a P/E ratio of 14.89, a P/E/G ratio of 1.47 and a beta of 1.00. 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. has a 12-month low of $260.31 and a 12-month high of $337.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.44. The company 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 revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.07 EPS. Equities research analysts anticipate that JPMorgan Chase & Co. will post 22.4 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is currently 28.74%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, CFO Jeremy Barnum sold 5,611 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $306.55, for a total value of $1,720,052.05. Following the transaction, the chief financial officer owned 35,460 shares of the company’s stock, valued at $10,870,263. The trade was a 13.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of JPMorgan Chase & Co. 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 in the company, valued at $13,940,935.56. This represents a 10.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 28,589 shares of company stock worth $8,747,496. 0.41% of the stock is currently owned by company insiders.

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.