Alpha Cubed Investments LLC Has $92.56 Million Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Alpha Cubed Investments reduced its JPMorgan Chase stake by 13.3% in the fourth quarter, selling 44,216 shares and ending with 287,260 shares worth about $92.56 million.
• JPMorgan reported stronger-than-expected quarterly results, with EPS of $5.94 versus $5.50 expected and revenue of $50.54 billion, up 10% from a year earlier.
• Analysts remain broadly constructive on the stock, with a consensus “Moderate Buy” rating and an average price target of $338.12; the company also continues to pay a quarterly dividend yielding about 2.0%.

Alpha Cubed Investments LLC lowered its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 13.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 287,260 shares of the financial services provider's stock after selling 44,216 shares during the quarter. JPMorgan Chase & Co. comprises approximately 3.2% of Alpha Cubed Investments LLC's holdings, making the stock its 11th largest holding. Alpha Cubed Investments LLC's holdings in JPMorgan Chase & Co. were worth $92,561,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Legal & General Group Plc boosted its stake in JPMorgan Chase & Co. by 3.3% in the 3rd quarter. Legal & General Group Plc now owns 18,908,978 shares of the financial services provider's stock worth $5,964,459,000 after purchasing an additional 607,025 shares during the period. Fisher Asset Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 2.3% in the third quarter. Fisher Asset Management LLC now owns 15,722,443 shares of the financial services provider's stock valued at $4,959,330,000 after purchasing an additional 347,033 shares during the last quarter. Invesco Ltd. raised its holdings in shares of JPMorgan Chase & Co. by 2.3% in the third quarter. Invesco Ltd. now owns 14,655,153 shares of the financial services provider's stock valued at $4,622,675,000 after purchasing an additional 322,735 shares during the last quarter. Boston Partners raised its holdings in shares of JPMorgan Chase & Co. by 2.3% in the third quarter. Boston Partners now owns 7,492,763 shares of the financial services provider's stock valued at $2,360,045,000 after purchasing an additional 168,184 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of JPMorgan Chase & Co. by 0.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,809,417 shares of the financial services provider's stock valued at $2,147,894,000 after purchasing an additional 31,421 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on JPM shares. HSBC increased their price target on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a "hold" rating in a research report on Monday, May 4th. Royal Bank Of Canada reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Jefferies Financial Group reissued a "neutral" rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Daiwa Securities Group reduced their price target on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating for the company in a research report on Tuesday, April 7th. Finally, Dbs Bank raised JPMorgan Chase & Co. to a "hold" rating in a research report on Tuesday. Fifteen research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and an average target price of $338.12.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $297.93 on Friday. The firm has a 50 day moving average of $299.67 and a 200-day moving average of $307.32. The stock has a market capitalization of $798.31 billion, a PE ratio of 14.27, a PEG ratio of 1.46 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. JPMorgan Chase & Co. has a 12 month low of $256.00 and a 12 month high of $337.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.44. The business 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%.JPMorgan Chase & Co.'s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $5.07 earnings per share. On average, equities research analysts predict that JPMorgan Chase & Co. will post 22.42 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Robin Leopold sold 433 shares of the firm'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 completion of the sale, the insider owned 64,920 shares of the company's stock, valued at $19,155,295.20. This trade represents a 0.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Jennifer Piepszak sold 9,136 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total value of $2,800,732.16. Following the completion of the transaction, the chief operating officer owned 90,001 shares in the company, valued at approximately $27,590,706.56. The trade was a 9.22% 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 79,849 shares of company stock valued at $24,522,956 over the last quarter. Company insiders own 0.41% of the company's stock.

More JPMorgan Chase & Co. News

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

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.

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