JPMorgan Chase & Co. (NYSE:JPM) is Westpac Banking Corp's 9th Largest Position

Key Points

• Westpac Banking Corp has reduced its stake in JPMorgan Chase & Co. by 5.3%, holding 63,748 shares, which now constitutes about 1.1% of its investment portfolio.
• JPMorgan reported $4.96 EPS in its latest quarterly earnings, surpassing analyst expectations, although its revenue decreased by 10.5% compared to the previous year.
• The company declared a quarterly dividend of $1.40 per share, resulting in an annualized dividend of $5.60 and a yield of 1.9%.

Westpac Banking Corp lowered its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 63,748 shares of the financial services provider's stock after selling 3,544 shares during the period. JPMorgan Chase & Co. accounts for about 1.1% of Westpac Banking Corp's investment portfolio, making the stock its 9th largest holding. Westpac Banking Corp's holdings in JPMorgan Chase & Co. were worth $15,637,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Finer Wealth Management Inc. raised its position in shares of JPMorgan Chase & Co. by 1.7% in the 1st quarter. Finer Wealth Management Inc. now owns 20,780 shares of the financial services provider's stock worth $5,097,000 after acquiring an additional 347 shares in the last quarter. Bulltick Wealth Management LLC raised its position in shares of JPMorgan Chase & Co. by 5.7% in the 1st quarter. Bulltick Wealth Management LLC now owns 10,484 shares of the financial services provider's stock worth $2,572,000 after acquiring an additional 561 shares in the last quarter. Rossmore Private Capital raised its position in shares of JPMorgan Chase & Co. by 0.8% in the 1st quarter. Rossmore Private Capital now owns 94,279 shares of the financial services provider's stock worth $23,127,000 after acquiring an additional 756 shares in the last quarter. Stone House Investment Management LLC raised its position in shares of JPMorgan Chase & Co. by 33.6% in the 1st quarter. Stone House Investment Management LLC now owns 1,313 shares of the financial services provider's stock worth $322,000 after acquiring an additional 330 shares in the last quarter. Finally, Trajan Wealth LLC increased its position in JPMorgan Chase & Co. by 6.5% during the 1st quarter. Trajan Wealth LLC now owns 52,528 shares of the financial services provider's stock valued at $12,885,000 after buying an additional 3,209 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,821 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the sale, the general counsel directly owned 68,757 shares of the company's stock, valued at $18,269,422.47. This trade represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the sale, the chief operating officer directly owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,557 shares of company stock worth $4,113,796. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $290.48 on Friday. The company has a market cap of $798.75 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.95 and a beta of 1.11. JPMorgan Chase & Co. has a 1 year low of $200.61 and a 1 year high of $301.29. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The stock's fifty day moving average price is $286.42 and its 200-day moving average price is $263.61.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The company's revenue for the quarter was down 10.5% on a year-over-year basis. During the same period last year, the business posted $6.12 EPS. On average, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. HSBC reaffirmed a "reduce" rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Bank of America raised their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, July 7th. Finally, Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.