Phoenix Financial Ltd. Has $16.66 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Phoenix Financial Ltd. has reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 23.4%, holding 67,854 shares valued at approximately $16.66 million after selling 20,783 shares.
• JPMorgan's stock received mixed reviews from analysts, with a consensus rating of "Moderate Buy" and an average target price of $288.68.
• In Q2, JPMorgan reported earnings of $4.96 per share, exceeding expectations, although revenues fell 10.5% year-over-year to $44.91 billion.

Phoenix Financial Ltd. reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 23.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,854 shares of the financial services provider's stock after selling 20,783 shares during the period. Phoenix Financial Ltd.'s holdings in JPMorgan Chase & Co. were worth $16,661,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $29,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. in the first quarter valued at $33,000. Investment Counsel Co. of Nevada bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $37,000. Prudent Man Investment Management Inc. bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $43,000. Finally, Measured Risk Portfolios Inc. bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $44,000. 71.55% of the stock is owned by institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the transaction, the director directly owned 91,539 shares in the company, valued at approximately $22,884,750. This trade represents a 9.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the transaction, the chief financial officer owned 18,017 shares of the company's stock, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock valued at $18,060,015 in the last ninety days. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Down 2.4%

Shares of JPMorgan Chase & Co. stock traded down $7.03 during trading hours on Friday, hitting $289.21. The company's stock had a trading volume of 12,005,470 shares, compared to its average volume of 8,727,902. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $301.29. The stock has a 50 day moving average of $281.04 and a 200 day moving average of $261.57. The company has a market capitalization of $803.74 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.95 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $44.91 billion during 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%. JPMorgan Chase & Co.'s quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the company earned $6.12 earnings per share. Analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have weighed in on the company. Hsbc Global Res cut JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Morgan Stanley upped their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, June 30th. Bank of America upped their price target 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. 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 research 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $288.68.

About JPMorgan Chase & Co.

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.