JPMorgan Chase & Co. $JPM Shares Sold by Drake & Associates LLC

Drake & Associates LLC reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 28.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,464 shares of the financial services provider’s stock after selling 3,291 shares during the period. JPMorgan Chase & Co. makes up 0.5% of Drake & Associates LLC’s holdings, making the stock its 21st biggest position. Drake & Associates LLC’s holdings in JPMorgan Chase & Co. were worth $2,727,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Timmons Wealth Management LLC acquired a new position 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 shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $32,000. Turning Point Benefit Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $35,000. Merrithew & Thorsten Inc purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth approximately $40,000. Finally, WHI TRUST Co LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth approximately $45,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on JPM. Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. Zacks Research lowered JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Royal Bank Of Canada reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Daiwa Securities Group dropped their price objective on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Finally, UBS Group dropped their price objective on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a report on Wednesday, May 6th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $339.08.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan was highlighted as a long-term favorite by multiple market commentators, with articles pointing to Jamie Dimon’s leadership, a strong balance sheet, and the bank’s durable profit record. Jamie Dimon’s Savvy Leadership, Bold Initiatives Keep JPMorgan Chase on Top
• Positive Sentiment: The bank’s planned expansion of the Chase digital bank into at least five European countries over the next five years suggests a new growth avenue that could widen its customer base and support future revenue. JPMorgan Chase & Co. (JPM) – Among the Top 10 Dividend Stocks to Buy According to Reddit
• Positive Sentiment: JPMorgan was also linked to a new Morningstar collaboration with Apollo and Franklin Templeton on model portfolios, reinforcing JPMorgan’s role in wealth-management product innovation. Morningstar (MORN) Teams Up With Apollo, Franklin Templeton, And JPMorgan On New Models
• Neutral Sentiment: Several articles simply reaffirmed JPMorgan as a top dividend or long-term holding, which is supportive sentiment but does not by itself change the near-term earnings outlook. Why JPMorgan Chase & Co. (JPM) is a Top Stock for the Long-Term
• Negative Sentiment: Offsetting the positives, the DOJ is probing transactions tied to a business network linked to Iran’s supreme leader, and JPMorgan was named in the coverage. That adds regulatory and reputational risk, which can pressure the shares if the investigation deepens. DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader’s business network

JPMorgan Chase & Co. Trading Up 0.0%

Shares of NYSE:JPM opened at $325.28 on Friday. JPMorgan Chase & Co. has a 52 week low of $272.11 and a 52 week high of $338.09. The company’s 50 day moving average is $309.17 and its two-hundred day moving average is $307.69. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The company has a market cap of $871.58 billion, a PE ratio of 15.58, a P/E/G ratio of 1.51 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, topping the consensus estimate of $5.50 by $0.44. The business had revenue of $50.54 billion during 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 company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the company earned $5.07 EPS. Equities analysts predict that JPMorgan Chase & Co. will post 22.44 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is 28.74%.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 5,468 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the transaction, the general counsel owned 46,428 shares in the company, valued at approximately $13,940,935.56. This represents a 10.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 company’s stock in a transaction 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 completion of the transaction, 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 position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 28,589 shares of company stock valued at $8,747,496. 0.41% of the stock is owned by insiders.

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.