JPMorgan Chase & Co. (NYSE:JPM) Shares Bought by Rathbones Group PLC

Key Points

• Rathbones Group PLC increased its stake in JPMorgan Chase & Co. by 0.3%, owning approximately 2.8 million shares, which represents 3.4% of its investment portfolio.
• JPMorgan Chase & Co. reported earnings per share of $4.96, exceeding analysts' expectations, while overall revenue was down 10.5% from the previous year.
• The company declared a quarterly dividend of $1.40 per share, which reflects an annualized dividend yield of 1.9% and a payout ratio of 28.73%.

Rathbones Group PLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,845,039 shares of the financial services provider's stock after purchasing an additional 8,467 shares during the quarter. JPMorgan Chase & Co. comprises approximately 3.4% of Rathbones Group PLC's investment portfolio, making the stock its 5th largest holding. Rathbones Group PLC owned about 0.10% of JPMorgan Chase & Co. worth $697,888,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Brighton Jones LLC lifted 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 valued at $11,682,000 after acquiring an additional 4,841 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its stake in JPMorgan Chase & Co. by 0.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after acquiring an additional 1,229 shares in the last quarter. Highview Capital Management LLC DE raised its stake in shares of JPMorgan Chase & Co. by 16.1% during the 4th quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock worth $3,266,000 after purchasing an additional 1,893 shares during the period. KKM Financial LLC raised its stake in shares of JPMorgan Chase & Co. by 3.9% during the 4th quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock worth $4,040,000 after purchasing an additional 640 shares during the period. Finally, Jump Financial LLC raised its stake in shares of JPMorgan Chase & Co. by 211.8% during the 4th quarter. Jump Financial LLC now owns 13,013 shares of the financial services provider's stock worth $3,119,000 after purchasing an additional 8,840 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Activity

In other news, General Counsel Stacey Friedman sold 6,608 shares of the business'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 $1,755,811.68. Following the completion of the transaction, the general counsel owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the business's 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 transaction, the chief operating officer directly owned 62,455 shares of the company's stock, valued at $16,392,563.85. The trade was a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,557 shares of company stock valued at $4,113,796 in the last three months. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Down 1.3%

JPM stock opened at $290.48 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $798.75 billion, a PE ratio of 14.90, a PEG ratio of 1.95 and a beta of 1.11. JPMorgan Chase & Co. has a twelve month low of $200.61 and a twelve month high of $301.29. The stock has a 50-day simple moving average of $286.42 and a two-hundred day simple moving average of $263.61.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.12 EPS. On average, equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders 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 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

Analyst Ratings Changes

A number of research firms have recently commented on JPM. TD Cowen began coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 target price on the stock. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, June 30th. Finally, HSBC reiterated a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.

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