Levin Capital Strategies L.P. Sells 4,267 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Levin Capital Strategies L.P. sold 4,267 shares of JPMorgan Chase & Co., reducing its stake by 2.4%, leaving it with 175,525 shares valued at approximately $43 million.
• Several institutional investors increased their stakes in JPMorgan Chase & Co., with Northern Trust Corp growing its position by 15.4% and GAMMA Investing LLC boosting theirs by a staggering 25,861.9%.
• JPMorgan Chase reported $4.96 earnings per share for the recent quarter, exceeding expectations, but experienced a 10.5% decline in revenue compared to the same quarter last year.

Levin Capital Strategies L.P. decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 175,525 shares of the financial services provider's stock after selling 4,267 shares during the quarter. JPMorgan Chase & Co. comprises approximately 4.5% of Levin Capital Strategies L.P.'s investment portfolio, making the stock its 2nd biggest position. Levin Capital Strategies L.P.'s holdings in JPMorgan Chase & Co. were worth $43,056,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northern Trust Corp grew its position in JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after buying an additional 4,515,147 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of JPMorgan Chase & Co. by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock valued at $6,083,723,000 after purchasing an additional 454,226 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of JPMorgan Chase & Co. by 25,861.9% in the 1st 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 in the last quarter. Capital Research Global Investors boosted its holdings in shares of JPMorgan Chase & Co. by 9.1% in the 4th 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 purchasing an additional 1,914,049 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of JPMorgan Chase & Co. by 16.3% in the 4th 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 purchasing an additional 2,465,572 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $288.55 on Friday. The stock has a 50-day moving average price of $283.74 and a 200-day moving average price of $262.70. JPMorgan Chase & Co. has a 1-year low of $200.61 and a 1-year high of $301.29. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. The firm has a market cap of $793.44 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11.

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 for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same period last year, the company posted $6.12 EPS. The business's quarterly revenue was down 10.5% on a year-over-year basis. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were given a $1.40 dividend. 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 dividend payout ratio (DPR) is 28.73%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, June 30th. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Truist Financial increased their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. Finally, UBS Group increased their price target on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and an average price target of $288.68.

Insider Activity

In other news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel directly owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction, the chief operating officer directly owned 62,455 shares of the company's stock, valued at approximately $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 sold 15,557 shares of company stock valued at $4,113,796. Corporate insiders own 0.47% of the company's stock.

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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