JPMorgan Chase & Co. $JPM Shares Sold by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG cut its JPMorgan Chase stake by 42.9% in the first quarter, selling 50,233 shares and leaving it with 66,849 shares valued at about $19.5 million.
• JPMorgan’s latest quarter beat expectations, posting EPS of $5.94 versus $5.50 expected and revenue of $50.54 billion, while quarterly revenue rose 10% year over year.
• The company also announced a quarterly dividend of $1.50 per share, payable July 31, which works out to an annualized $6.00 dividend and a 1.8% yield.

J. Safra Sarasin Holding AG lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 42.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,849 shares of the financial services provider's stock after selling 50,233 shares during the period. J. Safra Sarasin Holding AG's holdings in JPMorgan Chase & Co. were worth $19,500,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Morgan Stanley increased its stake in JPMorgan Chase & Co. by 1.4% in the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider's stock valued at $21,390,662,000 after purchasing an additional 939,421 shares during the last quarter. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $11,396,496,000. Bank of New York Mellon Corp boosted its holdings in shares of JPMorgan Chase & Co. by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider's stock valued at $7,547,837,000 after buying an additional 1,194,583 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of JPMorgan Chase & Co. by 0.6% in the 4th quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider's stock valued at $6,128,484,000 after buying an additional 110,586 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of JPMorgan Chase & Co. by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider's stock valued at $5,161,532,000 after buying an additional 296,213 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Activity

In other news, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction dated 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 owned 32,438 shares in the company, valued at approximately $10,036,641.58. This represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 dated Monday, June 22nd. The stock was sold at an average price of $330.73, for a total value of $1,808,100.91. Following the transaction, the general counsel directly owned 40,961 shares in the company, valued at approximately $13,547,031.53. This represents a 11.78% decrease in their position. 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 three months, insiders sold 18,876 shares of company stock valued at $5,907,051. Insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Stock Down 0.5%

JPM stock opened at $341.60 on Friday. The company has a fifty day moving average price of $319.11 and a 200 day moving average price of $310.31. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $351.24. The company has a market cap of $915.33 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 1.54 and a beta of 0.99. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.86.

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, topping analysts' consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The firm had revenue of $50.54 billion during the quarter, compared to analysts' expectations of $48.30 billion. During the same quarter in the prior year, the business earned $5.07 EPS. JPMorgan Chase & Co.'s quarterly revenue was up 10.0% compared to the same quarter last year. Sell-side analysts expect that JPMorgan Chase & Co. will post 23.24 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio is presently 25.71%.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan’s blowout Q2 earnings are driving bullish sentiment, with the bank reporting record profits, 41% higher net income, strong trading and investment banking activity, and higher full-year net interest income guidance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income -- Up 41% -- and CEO Jamie Dimon Said the Economy Is "Close to as Good as It Gets."
• Positive Sentiment: Analysts have been raising expectations after the results, including multiple higher price targets and upgraded earnings forecasts, signaling confidence that JPMorgan can continue to outperform. JPMorgan Price Target Raised to $380 on Strong Q2 Results, Upgraded Outlook and Capital Strength
• Positive Sentiment: The stock is also benefiting from expectations that JPMorgan may raise its quarterly dividend by 10% after passing the Federal Reserve stress test, reinforcing the bank’s capital strength and shareholder-return story. JPM Stock Just Staged a Record Bull Run. 1 Analyst Thinks It Can Still Soar to $420.
• Neutral Sentiment: JPMorgan was added to several “Strong Buy” and momentum/income stock lists, which adds to positive sentiment but is less directly impactful than earnings or guidance. New Strong Buy Stocks for July 17th
• Neutral Sentiment: JPMorgan also drew attention for major financing activity and a $24 million Philadelphia shipbuilding investment, highlighting ongoing business expansion and capital deployment. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Late-day sector weakness in financial stocks may be limiting JPMorgan’s upside even as company-specific fundamentals remain strong. Sector Update: Financial Stocks Decline Friday Afternoon

Analyst Ratings Changes

Several brokerages recently commented on JPM. Bank of America lifted their price target on shares of JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a "buy" rating in a research note on Thursday. Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday. Autonomous Res dropped their price objective 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. Barclays lifted their target price on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Dbs Bank raised JPMorgan Chase & Co. to a "hold" rating in a research report on Tuesday, May 12th. Fifteen investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $354.92.

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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