JPMorgan Chase & Co. (NYSE:JPM) Position Reduced by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd decreased its stake in JPMorgan Chase & Co. by 3.3%, owning 368,156 shares valued at approximately $89.41 million, making it the firm's 12th largest holding.
• The financial services provider reported earnings of $4.96 per share for the latest quarter, surpassing analysts’ expectations, but experienced a 10.5% decline in revenue compared to the previous year.
• Multiple analysts have weighed in on the stock, with consensus ratings ranging from moderate sell to strong buy, and an average target price set at $288.68.

Mediolanum International Funds Ltd reduced its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 368,156 shares of the financial services provider's stock after selling 12,713 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.2% of Mediolanum International Funds Ltd's holdings, making the stock its 12th biggest holding. Mediolanum International Funds Ltd's holdings in JPMorgan Chase & Co. were worth $89,407,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of JPM. Hurlow Wealth Management Group Inc. boosted its holdings in JPMorgan Chase & Co. by 0.7% in the 4th quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider's stock valued at $1,328,000 after purchasing an additional 40 shares during the last quarter. Wimmer Associates 1 LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1.0% in the 4th quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock worth $986,000 after acquiring an additional 40 shares during the last quarter. Twin Lakes Capital Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.3% in the 4th quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock worth $3,340,000 after acquiring an additional 40 shares during the last quarter. First Command Advisory Services Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 0.4% in the 1st quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock worth $2,283,000 after acquiring an additional 40 shares during the last quarter. Finally, Black Swift Group LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.7% in the 1st quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock worth $1,413,000 after acquiring an additional 40 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research reports. Morgan Stanley increased their target price on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. UBS Group increased their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. KGI Securities started coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a "hold" rating on the stock. Finally, HSBC reissued a "reduce" rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Price Performance

NYSE:JPM traded down $7.03 during mid-day trading on Friday, hitting $289.21. 12,005,470 shares of the company's stock traded hands, compared to its average volume of 8,727,902. 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 firm's 50 day simple moving average is $281.04 and its 200 day simple moving average is $261.57. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $301.29. The company has a market cap 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.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the previous year, the firm posted $6.12 earnings per share. The company's quarterly revenue was down 10.5% compared to the same quarter last year. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

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

Insider Activity

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the sale, the chief financial officer owned 18,017 shares in the company, valued at $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Stacey Friedman sold 6,608 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the sale, the general counsel owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is currently owned by company insiders.

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.