JPMorgan Chase & Co. $JPM Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC trimmed its JPMorgan Chase position by 1.8% in the fourth quarter, selling 49,548 shares and leaving it with 2.67 million shares worth about $861 million.
• JPMorgan reported strong quarterly results, with EPS of $5.94 and revenue of $50.54 billion, both beating analyst estimates and showing 10% year-over-year revenue growth.
• The bank announced a quarterly dividend of $1.50 per share and disclosed several insider sales, while analysts currently have a consensus rating of Moderate Buy with a $339.08 price target.

HighTower Advisors LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,672,170 shares of the financial services provider's stock after selling 49,548 shares during the period. JPMorgan Chase & Co. makes up about 0.9% of HighTower Advisors LLC's investment portfolio, making the stock its 12th biggest position. HighTower Advisors LLC owned approximately 0.10% of JPMorgan Chase & Co. worth $861,027,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of JPM. Turning Point Benefit Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth approximately $35,000. Merrithew & Thorsten Inc acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $40,000. WHI TRUST Co LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $45,000. Cresta Advisors Ltd. acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $48,000. Finally, Miller Global Investments LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $52,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Key Stories Impacting JPMorgan Chase & Co.

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

• Negative Sentiment: JPMorgan may spend heavily on acquisitions, which could reduce capital flexibility and pressure returns if deals are expensive or hard to integrate. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: 'We are on the lookout'
• Negative Sentiment: Dimon said earnings may not stay at current levels and that costs are likely to rise, which raises concerns about margin pressure. JPMorgan Chase Stock Is Falling: What's Happening Today?
• Neutral Sentiment: The bank also announced it will redeem $2.0 billion of Series KK preferred stock, a routine capital-management move that is not likely to change the investment thesis on its own. JPMorgan Chase to Redeem Series KK Preferred Stock
• Positive Sentiment: Dimon’s willingness to consider large acquisitions also reflects confidence in JPMorgan’s excess capital and long-term growth options, which could support the stock over time if management finds attractive targets. Jamie Dimon says JPMorgan could spend up to $20bn on a new acquisition

JPMorgan Chase & Co. Trading Down 2.5%

Shares of JPM opened at $299.04 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $801.27 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. The stock's fifty day simple moving average is $302.05 and its 200 day simple moving average is $306.96. JPMorgan Chase & Co. has a twelve month low of $260.31 and a twelve month high of $337.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping the consensus estimate of $5.50 by $0.44. The business had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The business's quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the company posted $5.07 EPS. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.74%.

Insider Transactions at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 433 shares of the stock in a transaction 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 directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeremy Barnum sold 5,611 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $306.55, for a total value of $1,720,052.05. Following the completion of the transaction, the chief financial officer directly owned 35,460 shares in the company, valued at $10,870,263. This trade represents a 13.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 28,589 shares of company stock valued at $8,747,496. Corporate insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on JPM. Truist Financial upped their price target on JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a "hold" rating in a report on Wednesday, April 15th. Piper Sandler increased their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. Zacks Research cut JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Argus increased their target price on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, April 15th. Finally, UBS Group lowered their target price on JPMorgan Chase & Co. from $380.00 to $375.00 in a report on Wednesday, May 6th. Fifteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $339.08.

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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