Nuveen LLC Sells 597,143 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Nuveen LLC trimmed its JPMorgan stake by 3.9% in the fourth quarter, selling 597,143 shares and leaving it with 14.78 million shares valued at about $4.76 billion. JPMorgan remains Nuveen’s 11th largest holding.
• JPMorgan’s latest earnings beat expectations, reporting $5.94 per share on revenue of $50.54 billion, both above analyst estimates. Revenue rose 10% from a year earlier, and analysts now expect full-year EPS of 22.4.
• The bank continues to pay a solid dividend, declaring a quarterly payout of $1.50 per share to be paid July 31, implying a 1.9% annual yield. Its dividend payout ratio is currently 28.74%.

Nuveen LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,775,402 shares of the financial services provider's stock after selling 597,143 shares during the period. JPMorgan Chase & Co. makes up 1.2% of Nuveen LLC's investment portfolio, making the stock its 11th biggest position. Nuveen LLC owned about 0.54% of JPMorgan Chase & Co. worth $4,760,930,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Turning Point Benefit Group Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth $35,000. Merrithew & Thorsten Inc purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth approximately $40,000. WHI TRUST Co LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth approximately $45,000. Cresta Advisors Ltd. purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth approximately $48,000. Finally, Miller Global Investments LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth approximately $52,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $313.85 on Friday. The stock has a fifty day moving average of $305.78 and a 200 day moving average of $306.87. JPMorgan Chase & Co. has a 52 week low of $262.71 and a 52 week high of $337.25. The firm has a market capitalization of $840.97 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.51 and a beta of 1.00. 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 posted its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping 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 firm had revenue of $50.54 billion during the quarter, compared to analysts' expectations of $48.30 billion. During the same period last year, the company posted $5.07 EPS. The company's quarterly revenue was up 10.0% compared to the same quarter last year. As a group, research analysts expect that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.74%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Robert W. Baird set a $295.00 target price on JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Wells Fargo & Company cut their target price on JPMorgan Chase & Co. from $360.00 to $350.00 and set an "overweight" rating for the company in a research note on Tuesday, February 17th. UBS Group cut their target price on JPMorgan Chase & Co. from $380.00 to $375.00 in a research note on Wednesday, May 6th. Argus upped their target price on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday, April 15th. Finally, Royal Bank Of Canada reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Fourteen analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $339.08.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: JPMorgan’s global expansion remains a positive, including reports that it has deployed $20 billion in the Gulf and doubled its private bankers in Singapore, signaling continued growth in wealth management and international banking. Article: JP Morgan deploys $20bn in Gulf and says postwar rebuild may cost hundreds of billions
• Positive Sentiment: The company continues to benefit from investor optimism around higher-for-longer rates after hotter inflation data, which can support bank lending margins and trading activity. Article: May Inflation Hits 4.2% as Energy Prices Surge, Raising Pressure on Federal Reserve
• Positive Sentiment: JPMorgan’s involvement in tokenized treasuries and digital-asset market infrastructure suggests it is positioned to benefit if regulated crypto adoption continues to grow. Article: Tokenized Treasuries Are Moving Onto the XRP Ledger
• Neutral Sentiment: Jamie Dimon’s comments on Mexico’s economy and trade highlight JPMorgan’s active role in global corporate and sovereign banking, but the direct stock impact is limited. Article: JPMorgan’s Jamie Dimon Praises the Mexican Economy
• Neutral Sentiment: JPMorgan also had several analyst-related headlines on other companies, but these are mostly read-throughs and do not materially change the bank’s own outlook. Article: Coherent and Lumentum just got more attractive, according to J.P. Morgan
• Negative Sentiment: The DOJ has subpoenaed JPMorgan in a widening “debanking” investigation, creating a potential legal and reputational risk for the bank. Article: US Justice Department subpoenas major banks over alleged 'debanking'
• Negative Sentiment: JPMorgan and other banks also lost a lawsuit over alleged missed red flags at Tricolor, which may keep credit-risk concerns in focus. Article: JPMorgan, Barclays, Fifth Third defeat lawsuit over missed 'red flags' at Tricolor

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 433 shares of the firm's stock in a transaction dated 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 approximately $19,155,295.20. This trade represents a 0.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jeremy Barnum sold 3,022 shares of the firm'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 directly owned 32,438 shares of the company's stock, valued at approximately $10,036,641.58. This represents a 8.52% decrease in their ownership of the stock. 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 sold 28,589 shares of company stock valued at $8,747,496. 0.41% of the stock is currently owned by company insiders.

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.