Crossmark Global Holdings Inc. Reduces Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Crossmark Global Holdings cut its JPMorgan Chase stake by 2.4% in the fourth quarter, selling 5,973 shares and leaving it with 241,994 shares valued at about $77.98 million.
• Insider selling was also notable: Robin Leopold and COO Jennifer Piepszak sold shares recently, and insiders have sold 79,849 shares worth roughly $24.5 million over the last three months.
• JPMorgan’s fundamentals remain solid, with recent quarterly earnings topping expectations and analysts maintaining a mixed but generally positive outlook, including an average price target of $338.12 and a “Moderate Buy” rating.

Crossmark Global Holdings Inc. trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 241,994 shares of the financial services provider's stock after selling 5,973 shares during the quarter. JPMorgan Chase & Co. comprises 1.1% of Crossmark Global Holdings Inc.'s holdings, making the stock its 10th biggest position. Crossmark Global Holdings Inc.'s holdings in JPMorgan Chase & Co. were worth $77,975,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JPM. Mountain Hill Investment Partners Corp. bought a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $32,000. Turning Point Benefit Group Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $35,000. Merrithew & Thorsten Inc bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $40,000. Cresta Advisors Ltd. bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $48,000. Finally, Miller Global Investments LLC bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $52,000. 71.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 433 shares of the business'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 sale, the insider owned 64,920 shares in the company, valued at $19,155,295.20. The trade was a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jennifer Piepszak sold 4,919 shares of the business'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 sale, the chief operating officer owned 85,082 shares in the company, valued at $26,326,072.44. This represents a 5.47% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 three months. 0.41% of the stock is owned by insiders.

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

JPMorgan Chase & Co. Stock Up 0.0%

NYSE JPM opened at $297.93 on Monday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The company's 50 day simple moving average is $299.67 and its 200 day simple moving average is $307.35. JPMorgan Chase & Co. has a 12 month low of $256.00 and a 12 month high of $337.25. The company has a market capitalization of $798.31 billion, a P/E ratio of 14.27, a PEG ratio of 1.45 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (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 business had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. During the same quarter in the previous year, the business earned $5.07 earnings per share. The firm's revenue was up 10.0% compared to the same quarter last year. Equities research analysts expect that JPMorgan Chase & Co. will post 22.43 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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 dividend of $1.50 per share. The ex-dividend date was Monday, April 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is currently 28.74%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. DZ Bank restated a "neutral" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Wells Fargo & Company dropped their target price on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set an "overweight" rating on the stock in a report on Tuesday, February 17th. Zacks Research downgraded shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Finally, Argus boosted their target price on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. Fifteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $338.12.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.