New Age Alpha Advisors LLC Sells 12,288 Shares of JPMorgan Chase & Co. $JPM

Key Points

• New Age Alpha Advisors LLC cut its JPMorgan Chase stake by 16.2% in the fourth quarter, selling 12,288 shares and leaving it with 63,434 shares worth about $20.44 million.
• Insiders also sold stock, with COO Jennifer Piepszak and CFO Jeremy Barnum both completing Rule 10b5-1 sales in May; insiders have sold 28,589 shares over the last three months.
• JPMorgan’s fundamentals remain solid: it beat quarterly EPS and revenue expectations, and the company declared a $1.50 quarterly dividend, implying a 2.0% annual yield.

New Age Alpha Advisors LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 16.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,434 shares of the financial services provider's stock after selling 12,288 shares during the quarter. JPMorgan Chase & Co. makes up approximately 0.9% of New Age Alpha Advisors LLC's portfolio, making the stock its 10th biggest position. New Age Alpha Advisors LLC's holdings in JPMorgan Chase & Co. were worth $20,440,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. HBK Sorce Advisory LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.5% in the 4th quarter. HBK Sorce Advisory LLC now owns 109,738 shares of the financial services provider's stock valued at $35,380,000 after acquiring an additional 504 shares during the period. Allen Capital Group LLC grew its position in JPMorgan Chase & Co. by 2.5% during the 4th quarter. Allen Capital Group LLC now owns 46,067 shares of the financial services provider's stock worth $14,844,000 after purchasing an additional 1,110 shares during the last quarter. LifePlan Investment Advisors Inc. increased its stake in JPMorgan Chase & Co. by 2.4% in the fourth quarter. LifePlan Investment Advisors Inc. now owns 3,359 shares of the financial services provider's stock valued at $1,082,000 after purchasing an additional 80 shares during the period. Wealthquest Corp purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $3,027,000. Finally, Kuhn & Co Investment Counsel boosted its stake in shares of JPMorgan Chase & Co. by 79.6% during the fourth quarter. Kuhn & Co Investment Counsel now owns 2,940 shares of the financial services provider's stock worth $947,000 after buying an additional 1,303 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,919 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the completion of the transaction, the chief operating officer owned 85,082 shares of the company's stock, valued at $26,326,072.44. The trade was a 5.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total transaction 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,589 shares of company stock valued at $8,747,496 in the last three months. 0.41% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on JPM. Zacks Research cut JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 8th. Jefferies Financial Group reaffirmed a "neutral" rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. The Goldman Sachs Group set a $361.00 target price on JPMorgan Chase & Co. in a research note on Tuesday, April 14th. Dbs Bank raised JPMorgan Chase & Co. to a "hold" rating in a report on Tuesday, May 12th. Finally, Royal Bank Of Canada restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and an average price target of $339.08.

JPMorgan Chase & Co. Stock Up 1.6%

JPM stock opened at $301.32 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The company's 50-day moving average price is $302.65 and its 200 day moving average price is $306.58. JPMorgan Chase & Co. has a 52 week low of $260.31 and a 52 week high of $337.25. The company has a market cap of $807.38 billion, a P/E ratio of 14.43, a P/E/G ratio of 1.45 and a beta of 1.00.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results 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 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%. The company's revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the firm earned $5.07 EPS. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is currently 28.74%.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan is being highlighted as a diversified, defensive stock outside the AI trade, which may attract investors looking for safety and quality in a rotation away from tech. Jim Cramer says look to buy these 5 stocks outside the AI trade for diversification
• Positive Sentiment: Analysts expect JPMorgan’s Q2 fee income to improve, supported by stronger markets revenue and investment banking fees, which could boost earnings expectations. JPMorgan's Bullish Q2 Outlook Highlights Fee Income Potential
• Positive Sentiment: JPMorgan expanded a $500 million fixed-to-floating notes offering, reinforcing its active capital markets franchise and funding flexibility. JPMorgan Chase Expands 2030 Fixed-to-Floating Notes Offering
• Neutral Sentiment: JPMorgan CEO Jamie Dimon reportedly flagged a possible $20 billion acquisition and continued European expansion, which keeps deal-making and growth optionality in focus but adds uncertainty on execution. JPMorgan Weighs US$20b Deal While Expanding In Europe And Crypto Debate
• Neutral Sentiment: Zacks noted that JPMorgan has recently been outperforming the market, reflecting continued investor confidence in the bank’s fundamentals. JPMorgan Chase & Co. (JPM) Exceeds Market Returns: Some Facts to Consider

About JPMorgan Chase & Co.

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.