Richard Bernstein Advisors LLC Sells 2,226 Shares of JPMorgan Chase & Co. $JPM

Richard Bernstein Advisors LLC lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,206 shares of the financial services provider’s stock after selling 2,226 shares during the quarter. JPMorgan Chase & Co. makes up approximately 0.2% of Richard Bernstein Advisors LLC’s portfolio, making the stock its 27th largest holding. Richard Bernstein Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $6,511,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in JPM. Danske Bank A S bought a new position in JPMorgan Chase & Co. during the third quarter worth about $696,885,000. Holocene Advisors LP boosted its position in JPMorgan Chase & Co. by 1,033.3% during the third quarter. Holocene Advisors LP now owns 2,155,120 shares of the financial services provider’s stock worth $679,790,000 after purchasing an additional 1,964,958 shares during the period. Viking Global Investors LP boosted its position in JPMorgan Chase & Co. by 86.1% during the second quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider’s stock worth $1,171,826,000 after purchasing an additional 1,870,386 shares during the period. PFA Pension Forsikringsaktieselskab bought a new position in JPMorgan Chase & Co. during the fourth quarter worth about $474,516,000. Finally, California Public Employees Retirement System boosted its position in JPMorgan Chase & Co. by 19.6% during the third quarter. California Public Employees Retirement System now owns 6,615,749 shares of the financial services provider’s stock worth $2,086,806,000 after purchasing an additional 1,082,913 shares during the period. Institutional investors own 71.55% of the company’s stock.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorganChase declared dividends on its Series II, OO and PP preferred stock, signaling continued capital return and financial stability. JPMorganChase Declares Preferred Stock Dividends
• Positive Sentiment: Reuters reported that JPMorgan’s long-running push into early-stage tech banking is paying off, with the firm now leading global technology investment banking and winning business from startup clients early in their growth cycle. JPMorgan’s bet on early-stage companies pays off in leading global tech investment banking
• Positive Sentiment: Chase continued expanding its branch network, opening 18 new branches in May as part of a multibillion-dollar expansion, which supports deposit gathering and retail growth over time. Chase Opens 18 Branches in May Amid Multibillion-Dollar Expansion

Wall Street Analyst Weigh In

A number of brokerages have weighed in on JPM. Dbs Bank upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, May 12th. UBS Group cut their target price on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research report on Wednesday, May 6th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, February 24th. Wells Fargo & Company cut their target price on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set an “overweight” rating for the company in a research report on Tuesday, February 17th. Finally, Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. Fifteen analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $338.12.

JPMorgan Chase & Co. Trading Down 0.7%

Shares of JPMorgan Chase & Co. stock opened at $297.93 on Friday. JPMorgan Chase & Co. has a 12-month low of $256.00 and a 12-month high of $337.25. The company has a market cap of $798.31 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.45 and a beta of 1.03. 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’s 50-day moving average price is $299.67 and its 200-day moving average price is $307.32.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) 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 firm had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. During the same period in the prior year, the firm posted $5.07 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 22.43 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 6th were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, April 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.74%.

Insider Transactions at JPMorgan Chase & Co.

In other news, CEO Troy L. Rohrbaugh sold 50,000 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $307.11, for a total value of $15,355,500.00. Following the sale, the chief executive officer directly owned 111,279 shares of the company’s stock, valued at approximately $34,174,893.69. This represents a 31.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the completion of the sale, the chief operating officer directly owned 85,082 shares in the company, valued at $26,326,072.44. This represents a 5.47% 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 90 days, insiders sold 79,849 shares of company stock valued at $24,522,956. Company insiders own 0.41% of the company’s stock.

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.