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

Key Points

• Profund Advisors LLC reduced its stake in JPMorgan Chase by 17.7% in the fourth quarter, selling 7,512 shares and leaving it with 34,906 shares valued at about $11.25 million.
• JPMorgan’s latest quarterly results beat expectations, with EPS of $5.94 versus $5.50 expected and revenue of $50.54 billion, up 10% year over year.
• The bank declared a quarterly dividend of $1.50 per share, payable July 31, representing a 2.0% annualized yield; analysts currently rate the stock a consensus Moderate Buy with a $339.08 price target.

Profund Advisors LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 17.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 34,906 shares of the financial services provider's stock after selling 7,512 shares during the quarter. Profund Advisors LLC's holdings in JPMorgan Chase & Co. were worth $11,247,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in JPM. Turning Point Benefit Group Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth $35,000. Merrithew & Thorsten Inc purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $40,000. WHI TRUST Co LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $45,000. Cresta Advisors Ltd. purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $48,000. Finally, Miller Global Investments LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $52,000. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Down 2.5%

NYSE:JPM opened at $299.04 on Thursday. JPMorgan Chase & Co. has a 12-month low of $260.31 and a 12-month high of $337.25. The company has a quick ratio of 0.86, a current 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 P/E/G 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. (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 (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The business had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. During the same period last year, the company earned $5.07 EPS. The firm's revenue was up 10.0% on a year-over-year basis. Equities research analysts expect that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, July 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is currently 28.74%.

More JPMorgan Chase & Co. News

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

Analyst Ratings Changes

Several analysts have recently issued reports on the company. HSBC upped their price target on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a "hold" rating in a research note on Monday, May 4th. Wells Fargo & Company cut their price target on JPMorgan Chase & Co. from $360.00 to $350.00 and set an "overweight" rating for the company in a report on Tuesday, February 17th. Royal Bank Of Canada reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Truist Financial increased their target price on JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a "hold" rating in a report on Wednesday, April 15th. Finally, Barclays reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, May 6th. Fifteen analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and a consensus price target of $339.08.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 433 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $295.06, for a total value of $127,760.98. Following the sale, the insider owned 64,920 shares of the company's stock, valued at $19,155,295.20. This trade represents a 0.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 5,468 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the sale, the general counsel directly owned 46,428 shares in the company, valued at $13,940,935.56. This represents a 10.54% 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. In the last ninety days, insiders have sold 28,589 shares of company stock valued at $8,747,496. Insiders own 0.41% of the company's stock.

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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