JPMorgan Chase & Co. $JPM Shares Sold by Saranac Partners Ltd

Key Points

• Saranac Partners Ltd cut its JPMorgan stake by 96.7% in the fourth quarter, leaving it with 882 shares worth about $284,000.
• JPMorgan reported strong first-quarter results, with EPS of $5.94 beating estimates and revenue of $50.54 billion topping expectations; analysts now expect 22.4 EPS for the current fiscal year.
• The bank continues to return capital to shareholders, announcing a $1.50 quarterly dividend payable July 31, while Wall Street holds a Moderate Buy consensus with a target price of $339.08.

Saranac Partners Ltd lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 96.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 882 shares of the financial services provider's stock after selling 26,086 shares during the period. Saranac Partners Ltd's holdings in JPMorgan Chase & Co. were worth $284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Turning Point Benefit Group Inc. acquired a new position in JPMorgan Chase & Co. in the third quarter valued at $35,000. Merrithew & Thorsten Inc acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at $40,000. WHI TRUST Co LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at $45,000. Cresta Advisors Ltd. acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at $48,000. Finally, Miller Global Investments LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at $52,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

In other news, CFO Jeremy Barnum sold 3,022 shares of the business's stock in a transaction on 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 directly owned 32,438 shares of the company's stock, valued at $10,036,641.58. The trade was a 8.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the company's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the sale, the general counsel directly owned 46,428 shares of the company's stock, valued at approximately $13,940,935.56. This trade represents a 10.54% decrease in their ownership of the stock. 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. Insiders sold 28,589 shares of company stock valued at $8,747,496 over the last quarter. 0.41% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Trading Down 0.9%

Shares of JPM opened at $296.53 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $302.25 and a 200-day simple moving average of $306.84. JPMorgan Chase & Co. has a 1-year low of $260.31 and a 1-year high of $337.25. The stock has a market cap of $794.56 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 1.46 and a beta of 1.03.

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, 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 during the quarter, compared to analysts' expectations of $48.30 billion. During the same period last year, the company posted $5.07 EPS. The company's revenue was up 10.0% on a year-over-year basis. Equities analysts forecast that JPMorgan Chase & Co. will post 22.4 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on JPM shares. Royal Bank Of Canada reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Argus raised their price target on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. Autonomous Res lowered their price target 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. Zacks Research lowered JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Finally, The Goldman Sachs Group set a $361.00 price target on JPMorgan Chase & Co. in a report on Tuesday, April 14th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and a consensus target price of $339.08.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: CEO Jamie Dimon said JPMorgan Chase could have up to $10 billion to $20 billion available for a major acquisition, signaling the bank has substantial firepower and flexibility to pursue deals if the right opportunity emerges. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: 'We are on the lookout'
• Positive Sentiment: JPMorgan Asset Management launched a new Managed Futures Plus ETF (JPFP), expanding its active ETF lineup and reinforcing the firm’s asset-management franchise. J.P. Morgan Asset Management Launches JPMorgan Managed Futures Plus ETF (JPFP) on NYSE
• Positive Sentiment: JPMorgan’s strategists said retail trading activity may rebound, which could provide a broader tailwind for U.S. stocks and trading-related revenues. Retail Revival Adds Fuel to US Stocks, JPMorgan Strategists Say
• Neutral Sentiment: The company announced a preferred stock redemption, a routine capital-management move that is generally not material on its own. JPMorganChase Announcement Concerning Preferred Stock
• Neutral Sentiment: JPMorgan also said a Bitcoin ETF outflow trend may reflect a “cooling” crypto trade, which is more of a market commentary than a direct earnings catalyst for JPM. JPMorgan Says Bitcoin ETF Outflows A Sign Of ‘Cooling’ Trade
• Negative Sentiment: Dimon also warned that JPMorgan is “over-earning” and that costs could rise, which spooked investors by suggesting margin pressure and less durable profit levels. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: 'We are on the lookout'
• Negative Sentiment: JPMorgan is also facing headlines over a $4.25 million arbitration ruling tied to the “salami incident,” adding an unwanted legal and reputational distraction. The ‘Salami Incident' That Has JPMorgan Chase on the Hook for $4.25 Million

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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