Courant Investment Management LLC Sells 13,000 Shares of JPMorgan Chase & Co. $JPM

Courant Investment Management LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 15.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 70,697 shares of the financial services provider’s stock after selling 13,000 shares during the period. JPMorgan Chase & Co. accounts for 20.3% of Courant Investment Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Courant Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $20,796,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Timmons Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth $32,000. Osbon Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $35,000. Turning Point Benefit Group Inc. purchased a new stake in JPMorgan Chase & Co. in the third quarter valued at $35,000. Finally, Merrithew & Thorsten Inc acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan cleared the Federal Reserve’s annual stress test, reinforcing that the bank is well capitalized and can withstand a severe downturn. That result supports higher payouts and helps confirm the firm’s balance-sheet strength. Article Title
• Positive Sentiment: The board approved a 10% dividend increase and a new $50 billion share buyback, which is a strong signal of confidence in earnings power and capital generation. Article Title
• Positive Sentiment: The stock recently hit an all-time high as investors reacted favorably to the dividend boost, buyback authorization, and ongoing confidence in JPMorgan’s earnings and capital return profile. Article Title

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $328.73 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. The company has a market cap of $880.83 billion, a P/E ratio of 15.74, a PEG ratio of 1.56 and a beta of 1.00. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $343.45. The company has a 50-day moving average price of $311.44 and a 200 day moving average price of $308.42.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. During the same period in the prior year, the company posted $5.07 EPS. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. Research analysts predict that JPMorgan Chase & Co. will post 22.44 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a $1.50 dividend. The ex-dividend date is Monday, July 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. JPMorgan Chase & Co.’s payout ratio is currently 28.74%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total value of $1,808,100.91. Following the sale, the general counsel directly owned 40,961 shares in the company, valued at $13,547,031.53. This represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the sale, the chief operating officer owned 85,082 shares in the company, valued at approximately $26,326,072.44. This trade represents a 5.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 33,623 shares of company stock valued at $10,427,835 over the last quarter. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on JPM shares. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Daiwa Securities Group dropped their price target on JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. HSBC boosted their price objective on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Barclays reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, May 6th. Finally, Robert W. Baird set a $295.00 target price on shares of JPMorgan Chase & Co. 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 target price of $339.58.

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.