JPMorgan Chase & Co. $JPM Shares Sold by Fiduciary Alliance LLC

Key Points

• Fiduciary Alliance LLC cut its JPMorgan Chase stake by 12.1% in the first quarter, selling 16,358 shares and leaving it with 119,379 shares worth about $36.5 million.
• JPMorgan reported strong first-quarter results, with earnings per share of $5.94 topping estimates and revenue of $50.54 billion also beating expectations, while revenue rose 10% year over year.
• The bank announced a quarterly dividend of $1.50 per share and disclosed recent insider selling, including moves by CFO Jeremy Barnum and General Counsel Stacey Friedman, even as analysts currently rate the stock Hold on average.

Fiduciary Alliance LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 12.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 119,379 shares of the financial services provider's stock after selling 16,358 shares during the period. JPMorgan Chase & Co. comprises approximately 2.3% of Fiduciary Alliance LLC's holdings, making the stock its 3rd biggest holding. Fiduciary Alliance LLC's holdings in JPMorgan Chase & Co. were worth $36,522,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fidelis Capital Partners LLC increased its position in shares of JPMorgan Chase & Co. by 7.9% in the 4th quarter. Fidelis Capital Partners LLC now owns 70,077 shares of the financial services provider's stock worth $22,580,000 after purchasing an additional 5,101 shares during the last quarter. Howard Capital Management Inc. raised its stake in shares of JPMorgan Chase & Co. by 18.2% in the 4th quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider's stock valued at $8,308,000 after purchasing an additional 3,976 shares in the last quarter. Andra AP fonden lifted its position in shares of JPMorgan Chase & Co. by 3.2% during 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 during the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of JPMorgan Chase & Co. by 51.7% during 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 during the last quarter. Finally, Banco Santander S.A. grew its stake 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. Institutional investors and hedge funds own 71.55% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Zacks Research lowered JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Autonomous Res reduced their target price on JPMorgan Chase & Co. from $360.00 to $324.00 and set a "neutral" rating on the stock in a report on Monday, April 6th. Dbs Bank upgraded JPMorgan Chase & Co. to a "hold" rating in a research report on Tuesday, May 12th. Evercore boosted their price target on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Friday, April 17th. Finally, Truist Financial upped their price target on JPMorgan Chase & Co. from $332.00 to $344.00 and gave the company a "hold" rating in a research report on Friday. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently 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 stock has a market cap of $880.83 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.53 and a beta of 1.00. 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. has a 1 year low of $279.10 and a 1 year high of $343.45. The business has a fifty day moving average of $311.44 and a 200-day moving average of $308.38.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The company's revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the business earned $5.07 earnings per share. Equities analysts predict that JPMorgan Chase & Co. will post 22.43 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

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

Insiders Place Their Bets

In other news, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the transaction, the chief financial officer directly owned 32,438 shares in the company, valued at $10,036,641.58. This trade represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the firm's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the transaction, the general counsel owned 40,961 shares in the company, valued at $13,547,031.53. This represents a 11.78% 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. In the last three months, insiders have sold 33,623 shares of company stock worth $10,427,835. 0.41% of the stock is owned by corporate insiders.

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

About JPMorgan Chase & Co.

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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