LSV Asset Management Sells 29,332 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• LSV Asset Management reduced its stake in JPMorgan Chase & Co. by 4.0%, selling 29,332 shares, bringing its total holdings to 710,536 shares valued at $174 million.
• JPMorgan Chase reported earnings of $4.96 per share for the last quarter, exceeding estimates, but experienced a 10.5% decline in quarterly revenue compared to the previous year.
• The company recently announced a quarterly dividend of $1.40, yielding 2.0%, with a payout ratio of 28.73%.

LSV Asset Management lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 710,536 shares of the financial services provider's stock after selling 29,332 shares during the period. LSV Asset Management's holdings in JPMorgan Chase & Co. were worth $174,294,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at approximately $28,000. Redwood Park Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth $29,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth $33,000. Investment Counsel Co. of Nevada bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth $37,000. Finally, Measured Risk Portfolios Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth $44,000. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $287.03 on Friday. The company has a market capitalization of $797.67 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. The business's fifty day moving average is $283.24 and its 200 day moving average is $262.53. JPMorgan Chase & Co. has a fifty-two week low of $200.61 and a fifty-two week high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results 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. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The company had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the previous year, the business earned $6.12 earnings per share. JPMorgan Chase & Co.'s quarterly revenue was down 10.5% compared to the same quarter last year. Sell-side 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 announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 28.73%.

Insider Activity

In other news, General Counsel Stacey Friedman sold 2,821 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 $749,567.91. Following the sale, the general counsel directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,557 shares of company stock worth $4,113,796 over the last ninety days. Insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, June 30th. HSBC reissued a "reduce" rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Truist Financial lifted their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Finally, UBS Group raised their price target on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. 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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