Manning & Napier Advisors LLC Has $36.39 Million Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Manning & Napier Advisors LLC cut its JPMorgan Chase stake by 16.9% in the fourth quarter, selling 22,921 shares and ending with 112,525 shares worth about $36.39 million.
• JPMorgan reported better-than-expected quarterly results, with EPS of $5.94 versus $5.50 expected and revenue of $50.54 billion versus $48.30 billion expected, while revenue rose 10% year over year.
• The bank continues to return capital to shareholders, having paid a $1.50 quarterly dividend that annualizes to $6.00 per share for a 2.0% yield; analysts currently rate the stock a Moderate Buy with a consensus price target of $338.12.

Manning & Napier Advisors LLC decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 16.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,525 shares of the financial services provider's stock after selling 22,921 shares during the period. Manning & Napier Advisors LLC's holdings in JPMorgan Chase & Co. were worth $36,393,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Ethic Inc. lifted its holdings in JPMorgan Chase & Co. by 11.8% during the 4th quarter. Ethic Inc. now owns 75,697 shares of the financial services provider's stock worth $24,391,000 after buying an additional 7,995 shares in the last quarter. Buck Wealth Strategies LLC lifted its holdings in JPMorgan Chase & Co. by 3.8% during the 4th quarter. Buck Wealth Strategies LLC now owns 54,523 shares of the financial services provider's stock worth $17,569,000 after buying an additional 1,996 shares in the last quarter. Channel Wealth LLC lifted its holdings in JPMorgan Chase & Co. by 69.4% during the 4th quarter. Channel Wealth LLC now owns 19,248 shares of the financial services provider's stock worth $6,202,000 after buying an additional 7,884 shares in the last quarter. Costello Asset Management INC lifted its holdings in JPMorgan Chase & Co. by 45.5% during the 4th quarter. Costello Asset Management INC now owns 7,731 shares of the financial services provider's stock worth $2,491,000 after buying an additional 2,418 shares in the last quarter. Finally, Capital City Trust Co. FL lifted its holdings in JPMorgan Chase & Co. by 3.3% during the 4th quarter. Capital City Trust Co. FL now owns 20,244 shares of the financial services provider's stock worth $6,523,000 after buying an additional 651 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Up 0.0%

NYSE:JPM opened at $297.93 on Monday. JPMorgan Chase & Co. has a 12-month low of $256.00 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 $798.31 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.45 and a beta of 1.03. The stock's fifty day simple moving average is $299.67 and its 200-day simple moving average is $307.35.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.50 by $0.44. The firm had revenue of $50.54 billion during the quarter, compared to analysts' expectations of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.07 earnings per share. Equities research analysts expect that JPMorgan Chase & Co. will post 22.43 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, April 30th. Investors of record on Monday, April 6th were issued a dividend of $1.50 per share. The ex-dividend date was Monday, April 6th. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is currently 28.74%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Truist Financial upped their price objective on JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a "hold" rating in a report on Wednesday, April 15th. Royal Bank Of Canada restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. HSBC upped their target price on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a "hold" rating in a research report on Monday, May 4th. Evercore upped 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 report on Friday, April 17th. Finally, Piper Sandler upped their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research report on Wednesday, April 15th. Fifteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $338.12.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorganChase declared dividends on its Series II, OO and PP preferred stock, signaling continued capital return and financial stability. JPMorganChase Declares Preferred Stock Dividends
• Positive Sentiment: Reuters reported that JPMorgan’s long-running push into early-stage tech banking is paying off, with the firm now leading global technology investment banking and winning business from startup clients early in their growth cycle. JPMorgan's bet on early-stage companies pays off in leading global tech investment banking
• Positive Sentiment: Chase continued expanding its branch network, opening 18 new branches in May as part of a multibillion-dollar expansion, which supports deposit gathering and retail growth over time. Chase Opens 18 Branches in May Amid Multibillion-Dollar Expansion

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, CEO Troy L. Rohrbaugh sold 50,000 shares of the firm's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $307.11, for a total transaction of $15,355,500.00. Following the sale, the chief executive officer owned 111,279 shares of the company's stock, valued at approximately $34,174,893.69. This trade represents a 31.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jennifer Piepszak sold 4,919 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total value of $1,522,036.98. Following the sale, the chief operating officer directly owned 85,082 shares in the company, valued at $26,326,072.44. The trade was a 5.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 79,849 shares of company stock worth $24,522,956 in the last three months. 0.41% of the stock is owned by insiders.

JPMorgan Chase & Co. 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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