Gateway Investment Advisers LLC Reduces Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Gateway Investment Advisers LLC trimmed its JPMorgan Chase stake by 1.9% in the fourth quarter, selling 13,363 shares and leaving it with 682,056 shares worth about $219.8 million.
• JPMorgan reported better-than-expected quarterly results, earning $5.94 per share on revenue of $50.54 billion, both above analyst estimates. Revenue rose 10% from a year earlier.
• The bank also paid a quarterly dividend of $1.50 per share, or $6.00 annualized, for a yield of about 2.0%, while analysts currently rate the stock a Moderate Buy with a consensus target of $338.12.

Gateway Investment Advisers LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 682,056 shares of the financial services provider's stock after selling 13,363 shares during the period. JPMorgan Chase & Co. comprises about 2.0% of Gateway Investment Advisers LLC's portfolio, making the stock its 9th largest holding. Gateway Investment Advisers LLC's holdings in JPMorgan Chase & Co. were worth $219,772,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Howard Capital Management Inc. raised its position in JPMorgan Chase & Co. by 18.2% in the fourth quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider's stock worth $8,308,000 after purchasing an additional 3,976 shares in the last quarter. Andra AP fonden raised its position in JPMorgan Chase & Co. by 3.2% in the third quarter. Andra AP fonden now owns 107,700 shares of the financial services provider's stock worth $33,972,000 after purchasing an additional 3,300 shares in the last quarter. Newbridge Financial Services Group Inc. raised its position in JPMorgan Chase & Co. by 51.7% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider's stock worth $2,862,000 after purchasing an additional 3,027 shares in the last quarter. Banco Santander S.A. raised its position in JPMorgan Chase & Co. by 9.0% in the third quarter. Banco Santander S.A. now owns 452,612 shares of the financial services provider's stock worth $142,767,000 after purchasing an additional 37,550 shares in the last quarter. Finally, Brighton Jones LLC raised its position in JPMorgan Chase & Co. by 11.0% in the fourth 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. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $297.93 on Friday. The firm 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 50 day moving average of $299.67 and a 200-day moving average of $307.32. 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 1-year low of $256.00 and a 1-year 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, beating analysts' consensus estimates of $5.50 by $0.44. The business had revenue of $50.54 billion during the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. JPMorgan Chase & Co.'s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the business posted $5.07 earnings per share. On average, equities analysts forecast that JPMorgan Chase & Co. will post 22.43 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared 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 of this dividend 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 dividend payout ratio (DPR) is currently 28.74%.

Analyst Ratings Changes

Several research analysts recently issued reports on JPM shares. Jefferies Financial Group reissued a "neutral" rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Sunday, January 18th. The Goldman Sachs Group set a $361.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, April 14th. UBS Group dropped their price target on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research report on Wednesday, May 6th. Finally, DZ Bank reissued a "neutral" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Fifteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $338.12.

Key Stories 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

Insiders Place Their Bets

In related news, General Counsel Stacey Friedman sold 3,404 shares of the firm's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $306.40, for a total value of $1,042,985.60. Following the completion of the sale, the general counsel owned 61,949 shares of the company's stock, valued at $18,981,173.60. This trade represents a 5.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jeremy Barnum sold 3,022 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the completion of the sale, the chief financial officer directly owned 32,438 shares of the company's stock, valued at approximately $10,036,641.58. This represents a 8.52% 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 a total of 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.

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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