Jennison Associates LLC Cuts Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Jennison Associates LLC reduced its JPMorgan Chase stake by 5.0% in the fourth quarter, selling 73,957 shares and leaving it with 1,403,134 shares valued at about $452.1 million.
• JPMorgan posted better-than-expected quarterly results, with EPS of $5.94 versus estimates of $5.50 and revenue of $50.54 billion, while revenue rose 10% year over year.
• The bank also returned capital to shareholders through a $1.50 quarterly dividend, annualizing to $6.00 per share for a 2.0% yield.

Jennison Associates LLC lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,403,134 shares of the financial services provider's stock after selling 73,957 shares during the period. Jennison Associates LLC owned approximately 0.05% of JPMorgan Chase & Co. worth $452,118,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after purchasing an additional 4,841 shares in the last quarter. Acorns Advisers LLC grew its holdings in JPMorgan Chase & Co. by 6.9% during the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock worth $379,000 after acquiring an additional 100 shares in the last quarter. Ignite Planners LLC grew its holdings in JPMorgan Chase & Co. by 0.7% during the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider's stock worth $3,185,000 after acquiring an additional 78 shares in the last quarter. Jump Financial LLC acquired a new position in JPMorgan Chase & Co. during the 2nd quarter worth $1,475,000. Finally, Betterment LLC boosted its holdings in shares of JPMorgan Chase & Co. by 27.5% in the 2nd 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. Hedge funds and other institutional investors own 71.55% of the company's stock.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: Erste Group raised its FY2027 earnings-per-share estimate for JPMorgan, implying expectations for continued profit strength ahead. JPMorgan Chase & Co. trading and earnings background
• Positive Sentiment: JPMorgan’s role in the first near real-time cross-border tokenized U.S. Treasury redemption with Ripple, Mastercard, and Ondo highlights innovation in blockchain-based settlement and could support long-term growth in payments and markets infrastructure. Ondo, JPMorgan, Mastercard & Ripple complete cross-border Treasury redemption
• Neutral Sentiment: JPMorgan disclosed a new preferred stock issuance and also reported a new 3.06% stake in Umicore, both of which are mostly capital-management and portfolio moves rather than direct operating catalysts. JPMorgan Issues New Series PP Preferred Stock
• Neutral Sentiment: JPMorgan remains in the news for research and commentary, including warnings from CEO Jamie Dimon about a possible bond-market crisis and the bank’s view that U.S. grid failures disproportionately hurt lower-income households. These are important macro views, but they do not immediately change JPM’s fundamentals. Jamie Dimon warns of bond crisis
• Negative Sentiment: JPMorgan is facing lawsuit risk after being sued alongside Citigroup over frozen payments tied to a sanctioned Chinese firm, which raises regulatory and legal uncertainty for the bank. JPMorgan, Citi sued for frozen payments to sanctioned China firm
• Negative Sentiment: Asset Management One disclosed it trimmed its JPM position, adding to signs of some institutional profit-taking in the name. Fund update showing decrease in JPM shares

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $301.93 on Monday. The company's 50 day moving average price is $299.69 and its 200 day moving average price is $307.26. JPMorgan Chase & Co. has a 52 week low of $252.34 and a 52 week high of $337.25. The company has a market capitalization of $809.04 billion, a PE ratio of 14.46, a PEG ratio of 1.47 and a beta of 1.03. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. During the same period in the previous year, the firm posted $5.07 earnings per share. The firm's revenue was up 10.0% on a year-over-year basis. Research analysts expect that JPMorgan Chase & Co. will post 22.42 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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

Insiders Place Their Bets

In related news, CFO Jeremy Barnum sold 3,022 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total transaction of $935,037.02. Following the completion of the transaction, the chief financial officer owned 32,438 shares of the company's stock, valued at approximately $10,036,641.58. The trade was a 8.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of the company's stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $295.06, for a total value of $127,760.98. Following the transaction, the insider 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. The disclosure for this sale is available in the SEC filing. Insiders sold 79,849 shares of company stock valued at $24,522,956 in the last three months. Company insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Autonomous Res decreased their price target on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a "neutral" rating for the company in a report on Monday, April 6th. HSBC boosted their price target on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a "hold" rating in a research report on Monday, May 4th. Piper Sandler boosted their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Freedom Capital upgraded shares of JPMorgan Chase & Co. to a "hold" rating in a report on Wednesday, January 14th. Finally, The Goldman Sachs Group set a $361.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, April 14th. Fifteen analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $338.12.

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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