JPMorgan Chase & Co. $JPM Shares Sold by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management cut its JPMorgan Chase stake by 7.0% in the fourth quarter, selling 12,417 shares and leaving it with 164,980 shares valued at about $53.2 million.
• JPMorgan reported strong quarterly results, with EPS of $5.94 topping expectations and revenue of $50.54 billion, both higher than analyst forecasts and up from a year earlier.
• Insiders sold shares recently, including CEO Troy L. Rohrbaugh and insider Robin Leopold, while analysts currently rate the stock a “Moderate Buy” with an average price target of $338.12.

Generali Asset Management SPA SGR decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 164,980 shares of the financial services provider's stock after selling 12,417 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.1% of Generali Asset Management SPA SGR's investment portfolio, making the stock its 17th largest position. Generali Asset Management SPA SGR's holdings in JPMorgan Chase & Co. were worth $53,160,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Mountain Hill Investment Partners Corp. acquired a new position in JPMorgan Chase & Co. in the third quarter worth approximately $32,000. Turning Point Benefit Group Inc. acquired a new position in JPMorgan Chase & Co. in the third quarter worth approximately $35,000. Cresta Advisors Ltd. acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $48,000. Miller Global Investments LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $52,000. Finally, Collier Financial acquired a new position in JPMorgan Chase & Co. in the 3rd quarter worth approximately $60,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Insiders Place Their Bets

In other news, CEO Troy L. Rohrbaugh sold 50,000 shares of the company's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $307.11, for a total value of $15,355,500.00. Following the transaction, the chief executive officer directly owned 111,279 shares of the company's stock, valued at approximately $34,174,893.69. This represents a 31.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robin Leopold sold 433 shares of the company's stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $295.06, for a total transaction of $127,760.98. Following the completion of the transaction, the insider directly owned 64,920 shares in the company, valued at $19,155,295.20. This trade represents a 0.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 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.

JPMorgan Chase & Co. Trading Down 0.7%

Shares of NYSE:JPM opened at $297.93 on Friday. The firm has a fifty day moving average of $299.67 and a two-hundred day moving average of $307.32. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 12-month low of $256.00 and a 12-month high of $337.25. The firm has a market capitalization of $798.31 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 1.45 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping 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 the consensus estimate of $48.30 billion. During the same period in the prior year, the business 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. On average, equities analysts expect that JPMorgan Chase & Co. will post 22.43 EPS 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. Stockholders of record on Monday, April 6th were paid 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 is 28.74%.

Analyst Ratings Changes

A number of research firms recently commented on JPM. Dbs Bank raised shares of JPMorgan Chase & Co. to a "hold" rating in a research note on Tuesday, May 12th. HSBC raised their price objective on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a "hold" rating in a research note on Monday, May 4th. The Goldman Sachs Group set a $361.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, February 24th. Finally, Truist Financial raised their price objective on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a "hold" rating in a research note on Wednesday, April 15th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $338.12.

Trending Headlines about 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

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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