JPMorgan Chase & Co. $JPM Stake Lessened by Alley Investment Management Company LLC

Key Points

• Alley Investment Management trimmed its JPMorgan stake by 7.0% in the first quarter, selling 8,217 shares and leaving it with 109,753 shares worth about $32.3 million. JPMorgan remains its second-largest holding, at roughly 3.9% of the portfolio.
• JPMorgan’s latest earnings beat expectations, posting EPS of $5.94 versus $5.50 expected and revenue of $50.54 billion, up 10% year over year. Analysts now expect full-year EPS of 22.76, while the stock also carries a consensus rating of Hold with a target price of $340.88.
• Several headlines are shaping sentiment around the bank, including supportive analyst commentary and anticipation for the July 14 earnings report. At the same time, legal overhang from the Charlie Javice case and some insider selling from top executives could weigh on investor sentiment.

Alley Investment Management Company LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 109,753 shares of the financial services provider's stock after selling 8,217 shares during the period. JPMorgan Chase & Co. makes up about 3.9% of Alley Investment Management Company LLC's portfolio, making the stock its 2nd largest holding. Alley Investment Management Company LLC's holdings in JPMorgan Chase & Co. were worth $32,285,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Fidelis Capital Partners LLC increased its position in shares of JPMorgan Chase & Co. by 7.9% during the fourth quarter. Fidelis Capital Partners LLC now owns 70,077 shares of the financial services provider's stock worth $22,580,000 after acquiring an additional 5,101 shares during the period. Howard Capital Management Inc. boosted its holdings in JPMorgan Chase & Co. by 18.2% in the fourth quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider's stock valued at $8,308,000 after purchasing an additional 3,976 shares during the period. Newbridge Financial Services Group Inc. grew its stake in JPMorgan Chase & Co. by 51.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider's stock worth $2,862,000 after purchasing an additional 3,027 shares in the last quarter. Brighton Jones LLC grew its stake in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after purchasing an additional 4,841 shares in the last quarter. Finally, KTF Investments LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $6,449,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: Wall Street commentary remains supportive, with analysts reworking revenue assumptions and nudging fair-value estimates higher for JPMorgan ahead of earnings. JPMorgan Chase (JPM) Stock Gets Fair Value Bump As Analysts Rework Revenue Outlook
• Positive Sentiment: Investors are also looking ahead to JPMorgan’s July 14 earnings report, with revisions trends for bank stocks still positive and expectations for the June-quarter cycle trending up. Q2 Earnings Season Nears Kickoff: Bank Earnings in Focus
• Positive Sentiment: JPMorgan’s brand and consumer franchise also got a boost from coverage of the Chase credit-card lounge wars, highlighting its push to win affluent customers and deepen loyalty. American Express and Chase move luxury lounge wars beyond the airport
• Neutral Sentiment: The bank disclosed a larger stake in Umicore SA, showing ongoing investing activity but not a clear direct catalyst for JPM shares. How JPMorgan’s Higher Umicore SA (UMICY) Stake Keeps Focus on Its Circular Battery Materials Platform
• Neutral Sentiment: JPMorgan also remained in the headlines for its broader market views, including warnings on crypto-market risks and support for clearer US crypto rules; these are more thematic than stock-moving in the near term. JPMorgan Says Saylor’s Strategy Adds New Risk to Bitcoin Market
• Negative Sentiment: Governance-related headlines may be weighing on sentiment, including the end of Marianne Lake’s CEO succession bid and her reported $50 million in unvested stock after Dimon chose other successors. JPMorgan CEO contender walks away with $50M in unvested stock after losing Jamie Dimon succession race
• Negative Sentiment: There was also another adverse legal headline, as a judge rejected JPMorgan’s challenge to a disputed $74 million legal-fee bill tied to the Charlie Javice fraud case. JPMorgan Loses Javice Legal Fee Fight
• Negative Sentiment: Separately, JPMorgan must keep paying Charlie Javice’s legal fees, adding to the expense and reputational overhang from the long-running fraud case. JPMorgan has to keep paying Charlie Javice's legal fees, judge rules

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 9,136 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the completion of the sale, the chief operating officer owned 90,001 shares in the company, valued at approximately $27,590,706.56. This represents a 9.22% 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, CFO Jeremy Barnum sold 5,611 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer directly owned 35,460 shares in the company, valued at approximately $10,870,263. This represents a 13.66% 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 have sold 33,623 shares of company stock worth $10,427,835. 0.41% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Morgan Stanley increased their price target on JPMorgan Chase & Co. from $336.00 to $362.00 and gave the company an "equal weight" rating in a research report on Monday, June 29th. Daiwa Securities Group lowered their price objective on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating for the company in a research report on Tuesday, April 7th. DZ Bank restated a "neutral" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Finally, Dbs Bank raised shares of JPMorgan Chase & Co. to a "hold" rating in a research report on Tuesday, May 12th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $340.88.

JPMorgan Chase & Co. Trading Down 0.2%

NYSE:JPM opened at $333.91 on Friday. The company has a market capitalization of $894.72 billion, a PE ratio of 15.99, a P/E/G ratio of 1.53 and a beta of 0.99. JPMorgan Chase & Co. has a 52-week low of $279.10 and a 52-week high of $343.45. The stock's 50 day moving average price is $313.35 and its 200 day moving average price is $309.10. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30.

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, beating analysts' consensus estimates 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 company had revenue of $50.54 billion during the quarter, compared to analysts' expectations of $48.30 billion. During the same quarter in the previous year, the business earned $5.07 earnings per share. The firm's revenue for the quarter was up 10.0% on a year-over-year basis. On average, research analysts anticipate that JPMorgan Chase & Co. will post 22.76 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.74%.

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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