Resona Asset Management Co. Ltd. decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 5.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 853,335 shares of the financial services provider’s stock after selling 44,449 shares during the period. JPMorgan Chase & Co. comprises about 1.3% of Resona Asset Management Co. Ltd.’s portfolio, making the stock its 10th biggest holding. Resona Asset Management Co. Ltd.’s holdings in JPMorgan Chase & Co. were worth $275,204,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in JPM. Howard Capital Management Inc. boosted its position in JPMorgan Chase & Co. by 18.2% during the 4th quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider’s stock valued at $8,308,000 after acquiring an additional 3,976 shares in the last quarter. Andra AP fonden grew its stake in shares of JPMorgan Chase & Co. by 3.2% in the 3rd quarter. Andra AP fonden now owns 107,700 shares of the financial services provider’s stock worth $33,972,000 after buying an additional 3,300 shares during the last quarter. Newbridge Financial Services Group Inc. grew its stake in shares of JPMorgan Chase & Co. by 51.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider’s stock worth $2,862,000 after buying an additional 3,027 shares during the last quarter. Banco Santander S.A. grew its stake in shares of JPMorgan Chase & Co. by 9.0% in the 3rd quarter. Banco Santander S.A. now owns 452,612 shares of the financial services provider’s stock worth $142,767,000 after buying an additional 37,550 shares during the last quarter. Finally, Brighton Jones LLC grew its stake in shares of JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after buying an additional 4,841 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.
Analysts Set New Price Targets
JPM has been the topic of several recent research reports. Daiwa Securities Group cut 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. Robert W. Baird set a $295.00 price target on JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Royal Bank Of Canada restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. Finally, HSBC upped their price target on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Fifteen equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $339.08.
Insiders Place Their Bets
In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the sale, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at $26,326,072.44. This trade represents a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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, CFO Jeremy Barnum sold 3,022 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the transaction, the chief financial officer owned 32,438 shares of the company’s stock, valued at approximately $10,036,641.58. The trade was a 8.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,589 shares of company stock valued at $8,747,496 in the last ninety days. Insiders own 0.41% of the company’s stock.
JPMorgan Chase & Co. Price Performance
NYSE JPM opened at $296.53 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $794.56 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.46 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’s fifty day moving average price is $302.25 and its 200-day moving average price is $306.84.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The business had revenue of $50.54 billion during the quarter, compared to analysts’ expectations of $48.30 billion. During the same quarter in the prior year, the business posted $5.07 earnings per share. The business’s quarterly revenue was up 10.0% on a year-over-year basis. On average, equities analysts predict that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.
JPMorgan Chase & Co. Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.74%.
More JPMorgan Chase & Co. News
Here are the key news stories impacting JPMorgan Chase & Co. this week:
- Positive Sentiment: CEO Jamie Dimon said JPMorgan Chase could have up to $10 billion to $20 billion available for a major acquisition, signaling the bank has substantial firepower and flexibility to pursue deals if the right opportunity emerges. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
- Positive Sentiment: JPMorgan Asset Management launched a new Managed Futures Plus ETF (JPFP), expanding its active ETF lineup and reinforcing the firm’s asset-management franchise. J.P. Morgan Asset Management Launches JPMorgan Managed Futures Plus ETF (JPFP) on NYSE
- Positive Sentiment: JPMorgan’s strategists said retail trading activity may rebound, which could provide a broader tailwind for U.S. stocks and trading-related revenues. Retail Revival Adds Fuel to US Stocks, JPMorgan Strategists Say
- Neutral Sentiment: The company announced a preferred stock redemption, a routine capital-management move that is generally not material on its own. JPMorganChase Announcement Concerning Preferred Stock
- Neutral Sentiment: JPMorgan also said a Bitcoin ETF outflow trend may reflect a “cooling” crypto trade, which is more of a market commentary than a direct earnings catalyst for JPM. JPMorgan Says Bitcoin ETF Outflows A Sign Of ‘Cooling’ Trade
- Negative Sentiment: Dimon also warned that JPMorgan is “over-earning” and that costs could rise, which spooked investors by suggesting margin pressure and less durable profit levels. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
- Negative Sentiment: JPMorgan is also facing headlines over a $4.25 million arbitration ruling tied to the “salami incident,” adding an unwanted legal and reputational distraction. The ‘Salami Incident’ That Has JPMorgan Chase on the Hook for $4.25 Million
About JPMorgan Chase & Co.
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.
Further Reading
- Five stocks we like better than JPMorgan Chase & Co.
- 3 Stocks Rallying on Micron’s Price Boost: Substance or Hype?
- Snowflake and the Snowballing Impact of its AI Flywheel
- AI’s Biggest Bottleneck Could Make These 2 Stocks Soar
- These 3 Beaten-Down Stocks Just Saw $25 Million in Insider Buying
Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Free Report).
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.
