Mitsubishi UFJ Trust & Banking Corp Cuts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its stake in JPMorgan Chase & Co. by 0.9%, holding approximately 1.5 million shares, which now represent only 1.0% of its total holdings.
• JPMorgan Chase reported $4.96 earnings per share for its recent quarter, exceeding analysts' expectations of $4.48, although revenue declined by 10.5% year-over-year.
• Analysts' ratings for JPMorgan are mixed, with a consensus of "Moderate Buy" and a target price averaging $288.68, following recent upgrades and downgrades from various firms.

Mitsubishi UFJ Trust & Banking Corp cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,508,865 shares of the financial services provider's stock after selling 13,121 shares during the quarter. JPMorgan Chase & Co. comprises 1.0% of Mitsubishi UFJ Trust & Banking Corp's holdings, making the stock its 10th biggest position. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.05% of JPMorgan Chase & Co. worth $370,125,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Wimmer Associates 1 LLC grew its position in JPMorgan Chase & Co. by 1.0% during the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock valued at $986,000 after purchasing an additional 40 shares in the last quarter. Twin Lakes Capital Management LLC grew its position in JPMorgan Chase & Co. by 0.3% in the fourth 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 in the last quarter. First Command Advisory Services Inc. grew its position in JPMorgan Chase & Co. by 0.4% in the first 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 in the last quarter. Black Swift Group LLC grew its position in JPMorgan Chase & Co. by 0.7% in the first 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 in the last quarter. Finally, Beacon Bridge Wealth Partners LLC grew its position in JPMorgan Chase & Co. by 1.8% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock worth $547,000 after acquiring an additional 40 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $287.03 on Friday. The stock has a market cap of $797.67 billion, a P/E ratio of 14.73, a PEG ratio of 1.94 and a beta of 1.11. JPMorgan Chase & Co. has a one year low of $200.61 and a one year high of $301.29. The company has a fifty day moving average price of $283.24 and a 200 day moving average price of $262.53. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating 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 company had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter in the prior year, the company posted $6.12 EPS. The business's revenue was down 10.5% on a year-over-year basis. Analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were paid a $1.40 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

Insiders Place Their Bets

In other news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer owned 62,455 shares in the company, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the 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 completion of the transaction, the general counsel owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,557 shares of company stock valued at $4,113,796. Corporate insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on JPM shares. Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday, July 7th. Morgan Stanley boosted 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 research report on Wednesday, July 16th. Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. KGI Securities initiated coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a "hold" rating for the company. Finally, Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a report on Friday, June 27th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

About JPMorgan Chase & Co.

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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