Cardano Risk Management B.V. Has $261.23 Million Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Cardano Risk Management B.V. sharply reduced its JPMorgan Chase stake by 89.8% in the first quarter, selling 7.79 million shares and leaving it with 888,058 shares valued at about $261.23 million.
• JPMorgan’s latest earnings topped expectations, with EPS of $5.94 versus $5.50 expected and revenue of $50.54 billion, up 10% year over year. The company also reported strong profitability metrics, including a 20.66% net margin and 17.54% return on equity.
• The bank boosted shareholder returns after passing the Fed stress test, announcing a 10% dividend increase and a new $50 billion share buyback. Analysts currently rate the stock a consensus Hold, with a price target of $339.58.

Cardano Risk Management B.V. trimmed its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 89.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 888,058 shares of the financial services provider's stock after selling 7,785,472 shares during the quarter. JPMorgan Chase & Co. accounts for 2.6% of Cardano Risk Management B.V.'s holdings, making the stock its 9th largest holding. Cardano Risk Management B.V.'s holdings in JPMorgan Chase & Co. were worth $261,231,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Roxbury Financial LLC increased its position in JPMorgan Chase & Co. by 0.4% during the 4th quarter. Roxbury Financial LLC now owns 8,011 shares of the financial services provider's stock valued at $2,581,000 after purchasing an additional 31 shares during the period. Collective Family Office LLC raised its holdings in shares of JPMorgan Chase & Co. by 1.0% in the 4th quarter. Collective Family Office LLC now owns 3,339 shares of the financial services provider's stock valued at $1,076,000 after purchasing an additional 32 shares in the last quarter. Essential Planning LLC. raised its holdings in shares of JPMorgan Chase & Co. by 2.4% in the 4th quarter. Essential Planning LLC. now owns 1,399 shares of the financial services provider's stock valued at $451,000 after purchasing an additional 33 shares in the last quarter. Tevis Investment Management lifted its position in shares of JPMorgan Chase & Co. by 0.8% in the 3rd quarter. Tevis Investment Management now owns 4,238 shares of the financial services provider's stock worth $1,337,000 after purchasing an additional 34 shares during the period. Finally, Spinnaker Investment Group LLC lifted its position in shares of JPMorgan Chase & Co. by 0.7% in the 4th quarter. Spinnaker Investment Group LLC now owns 5,183 shares of the financial services provider's stock worth $1,670,000 after purchasing an additional 34 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 5,467 shares of the company's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the transaction, the general counsel directly owned 40,961 shares of the company's stock, valued at $13,547,031.53. This represents a 11.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of the sale, the chief operating officer owned 85,082 shares of the company's stock, valued at approximately $26,326,072.44. This trade 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. Insiders sold 33,623 shares of company stock valued at $10,427,835 in the last quarter. 0.41% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of JPMorgan Chase & Co. from $332.00 to $344.00 and gave the company a "hold" rating in a research note on Friday. Zacks Research downgraded shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 8th. UBS Group lowered their target price on JPMorgan Chase & Co. from $380.00 to $375.00 in a report on Wednesday, May 6th. Autonomous Res dropped their target price on JPMorgan Chase & Co. from $360.00 to $324.00 and set a "neutral" rating on the stock in a research report on Monday, April 6th. Finally, Jefferies Financial Group reiterated a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Thursday. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $339.58.

JPMorgan Chase & Co. Trading Down 0.1%

NYSE JPM opened at $328.73 on Monday. 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 $880.83 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.53 and a beta of 1.00. The company has a 50 day moving average price of $311.44 and a 200 day moving average price of $308.38. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $343.45.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating 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 company had revenue of $50.54 billion during the quarter, compared to analysts' expectations of $48.30 billion. During the same quarter in the prior year, the company posted $5.07 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 22.43 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.74%.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: JPMorgan cleared the Federal Reserve’s annual stress test, reinforcing that the bank is well capitalized and can withstand a severe downturn. That result supports higher payouts and helps confirm the firm’s balance-sheet strength. Article Title
• Positive Sentiment: The board approved a 10% dividend increase and a new $50 billion share buyback, which is a strong signal of confidence in earnings power and capital generation. Article Title
• Positive Sentiment: The stock recently hit an all-time high as investors reacted favorably to the dividend boost, buyback authorization, and ongoing confidence in JPMorgan’s earnings and capital return profile. Article Title

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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