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JPMorgan Chase & Co. $JPM Stake Lessened by ABN AMRO Bank N.V.

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Key Points

  • ABN AMRO Bank N.V. cut its JPMorgan Chase stake by 37.1% in the first quarter, leaving it with 407,444 shares valued at about $119.6 million.
  • JPMorgan reported strong quarterly results, with EPS of $5.94 versus the $5.50 estimate and revenue of $50.54 billion, both topping analyst expectations.
  • The bank also announced a $1.50 quarterly dividend and maintained a shareholder-friendly outlook, while analysts currently rate the stock Hold on average with a consensus price target of $340.88.
  • MarketBeat previews top five stocks to own in August.

ABN AMRO Bank N.V. trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 37.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 407,444 shares of the financial services provider's stock after selling 240,087 shares during the quarter. JPMorgan Chase & Co. makes up 1.3% of ABN AMRO Bank N.V.'s portfolio, making the stock its 27th biggest position. ABN AMRO Bank N.V.'s holdings in JPMorgan Chase & Co. were worth $119,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Timmons Wealth Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $27,000. MBM Wealth Consultants LLC acquired a new position in JPMorgan Chase & Co. during the 1st quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd bought a new position in JPMorgan Chase & Co. during the 4th quarter worth $32,000. Osbon Capital Management LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth $35,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in JPMorgan Chase & Co. in the third quarter worth $35,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 3,022 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the transaction, the chief financial officer owned 32,438 shares of the company's stock, valued at approximately $10,036,641.58. This trade represents a 8.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total value of $1,522,036.98. Following the sale, the chief operating officer owned 85,082 shares in the company, valued at approximately $26,326,072.44. The trade was a 5.47% decrease in their position. 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 a total of 33,623 shares of company stock valued at $10,427,835 in the last three months. 0.41% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Down 0.8%

Shares of JPM stock opened at $326.91 on Wednesday. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $343.45. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. The business's fifty day moving average is $312.17 and its 200-day moving average is $308.70. The stock has a market cap of $875.96 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 1.51 and a beta of 1.00.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.44. The business had revenue of $50.54 billion during 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 company's revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.07 earnings per share. Equities analysts expect that JPMorgan Chase & Co. will post 22.72 earnings per share 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 given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio is 28.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on JPM shares. HSBC raised their target price on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a "hold" rating in a research note on Monday, May 4th. Truist Financial increased their price objective on shares of JPMorgan Chase & Co. from $332.00 to $344.00 and gave the stock a "hold" rating in a report on Friday. Jefferies Financial Group reaffirmed a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Thursday, June 25th. Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Finally, The Goldman Sachs Group set a $361.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, April 14th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $340.88.

Check Out Our Latest Stock Analysis on JPM

JPMorgan Chase & Co. News Summary

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

JPMorgan Chase & Co. Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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