Meiji Yasuda Asset Management Co Ltd. Sells 4,747 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Meiji Yasuda Asset Management reduced its JPMorgan Chase stake by 5.7% in the fourth quarter, selling 4,747 shares and leaving it with 78,296 shares valued at about $25.2 million.
• Institutional ownership of JPMorgan remains high, with several major funds adding to positions; overall, 71.55% of the stock is held by institutional investors.
• JPMorgan continues to draw mixed Wall Street views, with analysts split between Buy and Hold ratings and a consensus price target of $339.08, while the company also recently reported better-than-expected earnings and revenue for the quarter.

Meiji Yasuda Asset Management Co Ltd. cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,296 shares of the financial services provider's stock after selling 4,747 shares during the period. JPMorgan Chase & Co. comprises about 1.2% of Meiji Yasuda Asset Management Co Ltd.'s investment portfolio, making the stock its 10th largest position. Meiji Yasuda Asset Management Co Ltd.'s holdings in JPMorgan Chase & Co. were worth $25,229,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Legal & General Group Plc increased its position in shares of JPMorgan Chase & Co. by 3.3% during the third 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 during the period. Fisher Asset Management LLC raised its stake in shares of 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 in the last quarter. Invesco Ltd. raised its stake in shares of 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 in the last quarter. Boston Partners raised its stake in shares of 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 in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of 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 in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

JPM has been the subject of a number of recent research reports. DZ Bank restated a "neutral" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. HSBC raised their price target on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a "hold" rating in a research note on Monday, May 4th. Daiwa Securities Group cut their price target on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating for the company in a research note on Tuesday, April 7th. Zacks Research cut shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 8th. Finally, Argus boosted their price target on 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 analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $339.08.

Insider Transactions at JPMorgan Chase & Co.

In other news, CFO Jeremy Barnum sold 3,022 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the sale, the chief financial officer directly owned 32,438 shares of the company's stock, valued at approximately $10,036,641.58. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 433 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $295.06, for a total value of $127,760.98. Following the completion of the sale, the insider directly owned 64,920 shares of the company's stock, valued at $19,155,295.20. This trade represents a 0.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,589 shares of company stock valued at $8,747,496 over the last quarter. Corporate insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Stock Up 0.8%

Shares of NYSE JPM opened at $298.99 on Friday. The firm's 50-day simple moving average is $302.47 and its 200 day simple moving average is $306.78. The company has a market cap of $801.14 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 1.46 and a beta of 1.03. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 12-month low of $260.31 and a 12-month high of $337.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business had revenue of $50.54 billion for the quarter, compared to analysts' expectations of $48.30 billion. During the same period in the prior year, the firm earned $5.07 earnings per share. JPMorgan Chase & Co.'s revenue was up 10.0% compared to the same quarter last year. On average, research analysts expect that JPMorgan Chase & Co. will post 22.4 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend 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 is 28.74%.

JPMorgan Chase & Co. News Roundup

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.