Lazard Freres Gestion S.A.S. Sells 10,529 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Lazard Freres Gestion S.A.S. reduced its JPMorgan Chase stake by 5.8% in the fourth quarter, selling 10,529 shares and leaving it with 170,072 shares valued at about $54.8 million.
• Other institutional investors remain heavily invested in JPMorgan, and institutions as a whole own 71.55% of the company’s stock. Several large funds increased their positions during the period.
• JPMorgan continues to generate positive news flow, including the launch of a new active ETF, talk of potential acquisitions, and a recent earnings beat, with quarterly EPS of $5.94 versus the $5.50 consensus.

Lazard Freres Gestion S.A.S. lowered its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 170,072 shares of the financial services provider's stock after selling 10,529 shares during the quarter. Lazard Freres Gestion S.A.S.'s holdings in JPMorgan Chase & Co. were worth $54,800,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Legal & General Group Plc raised its holdings in shares of JPMorgan Chase & Co. by 3.3% during the 3rd quarter. Legal & General Group Plc now owns 18,908,978 shares of the financial services provider's stock valued at $5,964,459,000 after purchasing an additional 607,025 shares in the last quarter. Fisher Asset Management LLC grew its stake in JPMorgan Chase & Co. by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 15,722,443 shares of the financial services provider's stock valued at $4,959,330,000 after buying an additional 347,033 shares during the last quarter. Invesco Ltd. grew its stake in JPMorgan Chase & Co. by 2.3% in the 3rd quarter. Invesco Ltd. now owns 14,655,153 shares of the financial services provider's stock valued at $4,622,675,000 after buying an additional 322,735 shares during the last quarter. Boston Partners grew its stake in JPMorgan Chase & Co. by 2.3% in the 3rd quarter. Boston Partners now owns 7,492,763 shares of the financial services provider's stock valued at $2,360,045,000 after buying an additional 168,184 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in JPMorgan Chase & Co. by 19.6% in the 3rd quarter. California Public Employees Retirement System now owns 6,615,749 shares of the financial services provider's stock valued at $2,086,806,000 after buying an additional 1,082,913 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan launched a new active ETF, JPMorgan Managed Futures Plus ETF (JPFP), expanding its asset-management lineup and adding another fee-generating product for the bank. J.P. Morgan Asset Management Launches JPMorgan Managed Futures Plus ETF (JPFP) on NYSE
• Positive Sentiment: Jamie Dimon said JPMorgan could deploy $10 billion to $20 billion on acquisitions, signaling that the bank has significant capital and flexibility to pursue earnings-accretive deals if the right opportunity appears. Jamie Dimon Says JPMorganChase on Lookout for Potential Acquisitions
• Positive Sentiment: JPMorgan also received favorable attention for its broader market and product franchise, including commentary that retail participation could rebound and support trading activity, which would benefit the bank’s markets business. Retail Revival Adds Fuel to US Stocks, JPMorgan Strategists Say
• Neutral Sentiment: Dimon said he is not especially worried about inflation, a frothy stock market, or cracks in private markets, but he also described current market enthusiasm as “exuberant” and reminiscent of prior bubble-like periods. That mixed message supports the idea that JPMorgan is cautious on the macro backdrop rather than signaling a direct business problem. These Are the Forces Jamie Dimon Says Are the ‘Biggest Thing' on His Mind These Days
• Neutral Sentiment: The bank’s recent earnings and valuation backdrop remain solid overall, with JPMorgan having beaten expectations last quarter, but the latest headlines are more about Dimon’s commentary and strategic optionality than a new fundamental catalyst.
• Negative Sentiment: Dimon’s repeated warnings that stocks are in “exuberant” territory and could echo past crash periods may be weighing on risk sentiment around JPMorgan and the broader financial sector. Stock Market Is in ‘Exuberant’ Territory, Warns Jamie Dimon
• Negative Sentiment: JPMorgan is also dealing with reputational overhang from the “salami incident” arbitration dispute, and the bank plans to challenge the $4.25 million award tied to a former advisor’s firing. While financially small, it adds unwanted headlines. The ‘Salami Incident' That Has JPMorgan Chase on the Hook for $4.25 Million

Wall Street Analyst Weigh In

A number of research firms recently issued reports on JPM. Truist Financial raised their target price on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the company a "hold" rating in a research note on Wednesday, April 15th. Autonomous Res lowered their target price on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a "neutral" rating on the stock in a research note on Monday, April 6th. Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, February 24th. Evercore raised their target price on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Friday, April 17th. Finally, Argus raised their target price on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a "buy" rating in a research note on Wednesday, April 15th. Fifteen research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $339.08.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 5,468 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the transaction, the general counsel directly owned 46,428 shares of the company's stock, valued at approximately $13,940,935.56. This trade represents a 10.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 9,136 shares of the firm's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the transaction, the chief operating officer directly owned 90,001 shares of the company's stock, valued at $27,590,706.56. The trade was a 9.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,589 shares of company stock valued at $8,747,496 over the last quarter. 0.41% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Trading Up 0.8%

Shares of JPM opened at $298.99 on Friday. JPMorgan Chase & Co. has a 12-month low of $260.31 and a 12-month high of $337.25. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $801.14 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 1.45 and a beta of 1.03. The stock's 50-day moving average price is $302.47 and its 200 day moving average price is $306.78.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping analysts' consensus estimates of $5.50 by $0.44. The company had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the firm earned $5.07 EPS. As a group, research analysts predict that JPMorgan Chase & Co. will post 22.4 earnings per share 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. Stockholders of record on Monday, July 6th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.74%.

JPMorgan Chase & Co. Company Profile

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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