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

Key Points

• Alta Advisers Ltd cut its JPMorgan Chase stake by 26.4% in the fourth quarter, selling 3,840 shares and ending with 10,684 shares worth about $3.44 million.
• JPMorgan’s recent news flow is broadly supportive, including Jamie Dimon promoting SpaceX’s expected IPO to wealthy clients and reports that the bank is exploring acquisition opportunities.
• The bank reported strong quarterly results, with EPS of $5.94 beating estimates and revenue rising 10% year over year to $50.54 billion. JPMorgan also declared a $1.50 quarterly dividend, implying a 1.9% yield.

Alta Advisers Ltd lowered its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 26.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,684 shares of the financial services provider's stock after selling 3,840 shares during the period. JPMorgan Chase & Co. accounts for 1.2% of Alta Advisers Ltd's holdings, making the stock its 15th largest holding. Alta Advisers Ltd's holdings in JPMorgan Chase & Co. were worth $3,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in 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 purchasing an additional 4,841 shares in the last quarter. Acorns Advisers LLC boosted its stake in shares of JPMorgan Chase & Co. by 6.9% during the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock valued at $379,000 after purchasing an additional 100 shares in the last quarter. Ignite Planners LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.7% during the second quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider's stock worth $3,185,000 after purchasing an additional 78 shares during the last quarter. Jump Financial LLC bought a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $1,475,000. Finally, Betterment LLC increased its stake in shares of JPMorgan Chase & Co. by 27.5% in the second quarter. Betterment LLC now owns 1,970 shares of the financial services provider's stock valued at $571,000 after buying an additional 425 shares during the period. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. News Summary

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

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the transaction, the general counsel directly owned 46,428 shares of the company's stock, valued at $13,940,935.56. This represents a 10.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of JPMorgan Chase & Co. 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 sale, the insider directly owned 64,920 shares of the company's stock, valued at approximately $19,155,295.20. This trade represents a 0.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 28,589 shares of company stock worth $8,747,496. Corporate insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $310.99 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. The firm has a market cap of $833.29 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.47 and a beta of 1.00. The company's fifty day simple moving average is $303.54 and its 200 day simple moving average is $306.44. JPMorgan Chase & Co. has a 12-month low of $260.31 and a 12-month high of $337.25.

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 earnings per share 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 firm had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. During the same period last year, the business posted $5.07 EPS. The business's revenue was up 10.0% compared to the same quarter last year. On average, analysts expect that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.74%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on JPM shares. 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. DZ Bank restated a "neutral" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Robert W. Baird set a $295.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. The Goldman Sachs Group set a $361.00 target price on JPMorgan Chase & Co. in a research report on Tuesday, April 14th. Finally, Piper Sandler lifted their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $339.08.

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.

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