Alta Advisers Ltd Sells 3,840 Shares of JPMorgan Chase & Co. $JPM

Alta Advisers Ltd cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 26.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 10,684 shares of the financial services provider’s stock after selling 3,840 shares during the period. JPMorgan Chase & Co. accounts for about 1.2% of Alta Advisers Ltd’s portfolio, making the stock its 15th biggest position. Alta Advisers Ltd’s holdings in JPMorgan Chase & Co. were worth $3,443,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of JPM. Turning Point Benefit Group Inc. bought a new position in JPMorgan Chase & Co. during the third quarter valued at about $35,000. Merrithew & Thorsten Inc purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $40,000. WHI TRUST Co LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $45,000. Cresta Advisors Ltd. bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $48,000. Finally, Miller Global Investments LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $52,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $310.99 on Friday. JPMorgan Chase & Co. has a one year low of $260.31 and a one year high of $337.25. The business has a fifty day moving average price of $303.54 and a 200-day moving average price of $306.44. 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 firm has a market capitalization of $833.29 billion, a P/E ratio of 14.89, a PEG ratio of 1.47 and a beta of 1.00.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.50 by $0.44. The company had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $5.07 EPS. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 22.4 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

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

Insider Activity

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on JPM. DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Wells Fargo & Company lowered their target price on JPMorgan Chase & Co. from $360.00 to $350.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Barclays reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, May 6th. The Goldman Sachs Group set a $361.00 price target on JPMorgan Chase & Co. in a research note on Tuesday, April 14th. Finally, UBS Group lowered their price objective on JPMorgan Chase & Co. from $380.00 to $375.00 in a research note on Wednesday, May 6th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $339.08.

More JPMorgan Chase & Co. News

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

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.