Meyer Handelman Co. Has $92.15 Million Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Meyer Handelman Co. increased its JPMorgan Chase stake by 2.5% in the first quarter, bringing its holdings to 313,274 shares worth about $92.15 million. JPMorgan is now its fourth-largest holding.
• Insider selling continued, with COO Jennifer Piepszak and CFO Jeremy Barnum both selling shares in May under pre-arranged trading plans. In the last 90 days, insiders have sold 33,623 shares valued at about $10.4 million.
• JPMorgan reported strong quarterly results and boosted capital returns, beating earnings and revenue estimates, while also approving a 10% dividend increase and a new $50 billion share buyback after passing the Fed’s stress test.

Meyer Handelman Co. boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,274 shares of the financial services provider's stock after purchasing an additional 7,626 shares during the quarter. JPMorgan Chase & Co. comprises 2.9% of Meyer Handelman Co.'s holdings, making the stock its 4th largest holding. Meyer Handelman Co.'s holdings in JPMorgan Chase & Co. were worth $92,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Timmons Wealth Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $27,000. MBM Wealth Consultants LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $32,000. Osbon Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $35,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in JPMorgan Chase & Co. during the third quarter valued at approximately $35,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Activity

In related news, COO Jennifer Piepszak sold 4,919 shares of the company's stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 85,082 shares in the company, valued at approximately $26,326,072.44. This represents a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 5th. The shares were 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 owned 32,438 shares in the company, valued at $10,036,641.58. This represents a 8.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 33,623 shares of company stock valued at $10,427,835. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on JPM. Argus lifted their price target on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. Zacks Research lowered JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 8th. Dbs Bank raised shares of JPMorgan Chase & Co. to a "hold" rating in a research report on Tuesday, May 12th. HSBC boosted their price objective on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a "hold" rating in a report on Monday, May 4th. Finally, Barclays reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $339.58.

JPMorgan Chase & Co. Trading Down 0.1%

Shares of JPM opened at $328.73 on Monday. The stock has a market cap of $880.83 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.53 and a beta of 1.00. JPMorgan Chase & Co. has a 52-week low of $279.10 and a 52-week high of $343.45. The firm's fifty day moving average is $311.44 and its two-hundred day moving average is $308.38. 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. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating analysts' consensus estimates of $5.50 by $0.44. The company had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. JPMorgan Chase & Co.'s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.07 EPS. Research analysts forecast that JPMorgan Chase & Co. will post 22.43 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.74%.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan cleared the Federal Reserve’s annual stress test, reinforcing that the bank is well capitalized and can withstand a severe downturn. That result supports higher payouts and helps confirm the firm’s balance-sheet strength. Article Title
• Positive Sentiment: The board approved a 10% dividend increase and a new $50 billion share buyback, which is a strong signal of confidence in earnings power and capital generation. Article Title
• Positive Sentiment: The stock recently hit an all-time high as investors reacted favorably to the dividend boost, buyback authorization, and ongoing confidence in JPMorgan’s earnings and capital return profile. Article Title

JPMorgan Chase & Co. Company 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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

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.