ProShare Advisors LLC Buys 40,319 Shares of JPMorgan Chase & Co. $JPM

Key Points

• ProShare Advisors LLC increased its JPMorgan Chase stake by 6.1% in the fourth quarter, adding 40,319 shares and bringing its total holding to 701,638 shares valued at about $226.1 million.
• JPMorgan reported stronger-than-expected quarterly results, posting EPS of $5.94 versus the $5.50 consensus and revenue of $50.54 billion versus expectations of $48.30 billion, with revenue up 10% year over year.
• The company also announced a quarterly dividend of $1.50 per share, equal to an annualized $6.00 payout and a 2.0% yield, while analysts currently rate the stock a consensus “Moderate Buy” with an average target price of $339.08.

ProShare Advisors LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 701,638 shares of the financial services provider's stock after buying an additional 40,319 shares during the quarter. ProShare Advisors LLC's holdings in JPMorgan Chase & Co. were worth $226,082,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Legal & General Group Plc lifted its stake in JPMorgan Chase & Co. by 3.3% in 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 buying an additional 607,025 shares in the last quarter. Fisher Asset Management LLC lifted its stake in JPMorgan Chase & Co. by 2.3% in the third 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. boosted its position in JPMorgan Chase & Co. by 2.3% during the 3rd quarter. Invesco Ltd. now owns 14,655,153 shares of the financial services provider's stock worth $4,622,675,000 after acquiring an additional 322,735 shares during the last quarter. Boston Partners boosted its position in JPMorgan Chase & Co. by 2.3% during the 3rd quarter. Boston Partners now owns 7,492,763 shares of the financial services provider's stock worth $2,360,045,000 after acquiring an additional 168,184 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in JPMorgan Chase & Co. by 19.6% during the 3rd quarter. California Public Employees Retirement System now owns 6,615,749 shares of the financial services provider's stock worth $2,086,806,000 after acquiring an additional 1,082,913 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Down 2.5%

JPM opened at $299.04 on Thursday. JPMorgan Chase & Co. has a 1-year low of $260.31 and a 1-year high of $337.25. The stock's fifty day simple moving average is $302.05 and its 200 day simple moving average is $306.96. 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 stock has a market cap of $801.27 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03.

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 for the quarter, beating analysts' consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The business had revenue of $50.54 billion for the quarter, compared to analysts' expectations of $48.30 billion. During the same quarter in the prior year, the business earned $5.07 EPS. The firm's revenue for the quarter was up 10.0% on a year-over-year basis. As a group, research analysts expect that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio is 28.74%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. HSBC upped their price target on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a "hold" rating in a research report on Monday, May 4th. Autonomous Res reduced their price target on JPMorgan Chase & Co. from $360.00 to $324.00 and set a "neutral" rating for the company in a research report on Monday, April 6th. Jefferies Financial Group reaffirmed a "neutral" rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, February 24th. Finally, Daiwa Securities Group reduced their price target on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating for the company in a research report on Tuesday, April 7th. Fifteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $339.08.

Trending Headlines about JPMorgan Chase & Co.

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

• Negative Sentiment: JPMorgan may spend heavily on acquisitions, which could reduce capital flexibility and pressure returns if deals are expensive or hard to integrate. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: 'We are on the lookout'
• Negative Sentiment: Dimon said earnings may not stay at current levels and that costs are likely to rise, which raises concerns about margin pressure. JPMorgan Chase Stock Is Falling: What's Happening Today?
• Neutral Sentiment: The bank also announced it will redeem $2.0 billion of Series KK preferred stock, a routine capital-management move that is not likely to change the investment thesis on its own. JPMorgan Chase to Redeem Series KK Preferred Stock
• Positive Sentiment: Dimon’s willingness to consider large acquisitions also reflects confidence in JPMorgan’s excess capital and long-term growth options, which could support the stock over time if management finds attractive targets. Jamie Dimon says JPMorgan could spend up to $20bn on a new acquisition

Insiders Place Their Bets

In related news, CFO Jeremy Barnum sold 3,022 shares of the 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 sale, the chief financial officer owned 32,438 shares in the company, valued at approximately $10,036,641.58. This represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total value of $1,641,876.36. Following the transaction, the general counsel owned 46,428 shares in the company, valued at $13,940,935.56. The trade was a 10.54% decrease in their position. 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 worth $8,747,496 in the last quarter. Insiders own 0.41% of the company's stock.

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.

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