M.D. Sass LLC Sells 19,717 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• M.D. Sass LLC has reduced its stake in JPMorgan Chase & Co. by 15.4%, now holding 108,585 shares worth approximately $26.6 million, making it the firm’s 19th largest holding.
• JPMorgan Chase recently reported $4.96 earnings per share for the latest quarter, exceeding expectations, but revenue declined by 10.5% year-over-year.
• Analysts have mixed views on JPMorgan, with a consensus rating of "Moderate Buy" and a target price averaging $288.68, reflecting varied sentiments about the stock's future performance.

M.D. Sass LLC reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 15.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 108,585 shares of the financial services provider's stock after selling 19,717 shares during the period. JPMorgan Chase & Co. makes up 2.3% of M.D. Sass LLC's investment portfolio, making the stock its 19th largest holding. M.D. Sass LLC's holdings in JPMorgan Chase & Co. were worth $26,636,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares during the period. Northern Trust Corp lifted its stake in shares of JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of JPMorgan Chase & Co. by 31.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock valued at $2,561,256,000 after buying an additional 2,551,899 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of JPMorgan Chase & Co. by 16.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock valued at $4,207,028,000 after buying an additional 2,465,572 shares in the last quarter. Finally, Capital Research Global Investors increased its position in shares of JPMorgan Chase & Co. by 9.1% in the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider's stock valued at $5,475,223,000 after buying an additional 1,914,049 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on JPM. Morgan Stanley increased their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. HSBC reaffirmed a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. TD Cowen assumed coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a "buy" rating and a $305.00 price target on the stock. Finally, Truist Financial upped their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and an average price target of $288.68.

JPMorgan Chase & Co. Price Performance

NYSE:JPM traded up $3.66 during trading hours on Tuesday, reaching $293.22. The company had a trading volume of 3,019,001 shares, compared to its average volume of 9,949,322. The stock has a 50-day moving average of $284.24 and a two-hundred day moving average of $262.86. JPMorgan Chase & Co. has a one year low of $200.61 and a one year high of $301.29. The firm has a market capitalization of $806.28 billion, a PE ratio of 15.04, a PEG ratio of 1.93 and a beta of 1.11. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

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

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were paid a $1.40 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is 28.73%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction on 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. The trade was a 8.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 2,821 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $749,567.91. Following the sale, the general counsel owned 68,757 shares of the company's stock, valued at approximately $18,269,422.47. The trade was a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,557 shares of company stock valued at $4,113,796 over the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

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.