JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Prudential PLC

Key Points

• Prudential PLC reduced its stake in JPMorgan Chase & Co. by 9% in Q1, selling 19,610 shares, leaving it with 197,408 shares valued at approximately $48 million.
• Insiders, including COO Jennifer Piepszak and General Counsel Stacey Friedman, have sold a total of 15,557 shares of JPMorgan stock in recent transactions, indicating a decrease in their ownership percentages.
• JPMorgan Chase & Co. reported an EPS of $4.96 for the last quarter, surpassing estimates, but had a 10.5% decline in quarterly revenue compared to the previous year.

Prudential PLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 9.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 197,408 shares of the financial services provider's stock after selling 19,610 shares during the period. JPMorgan Chase & Co. makes up approximately 0.2% of Prudential PLC's portfolio, making the stock its 28th biggest holding. Prudential PLC's holdings in JPMorgan Chase & Co. were worth $48,424,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JPM. Clal Insurance Enterprises Holdings Ltd grew its position in shares of JPMorgan Chase & Co. by 393.8% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 316 shares of the financial services provider's stock valued at $78,000 after acquiring an additional 252 shares during the period. Resona Asset Management Co. Ltd. grew its position in shares of JPMorgan Chase & Co. by 6.8% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 912,678 shares of the financial services provider's stock valued at $223,519,000 after acquiring an additional 57,871 shares during the period. Rathbones Group PLC grew its position in shares of JPMorgan Chase & Co. by 0.3% during the 1st quarter. Rathbones Group PLC now owns 2,845,039 shares of the financial services provider's stock valued at $697,888,000 after acquiring an additional 8,467 shares during the period. Finer Wealth Management Inc. grew its position in shares of JPMorgan Chase & Co. by 1.7% during the 1st quarter. Finer Wealth Management Inc. now owns 20,780 shares of the financial services provider's stock valued at $5,097,000 after acquiring an additional 347 shares during the period. Finally, Bulltick Wealth Management LLC grew its position in shares of JPMorgan Chase & Co. by 5.7% during the 1st quarter. Bulltick Wealth Management LLC now owns 10,484 shares of the financial services provider's stock valued at $2,572,000 after acquiring an additional 561 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Down 1.3%

JPMorgan Chase & Co. stock traded down $3.68 during mid-day trading on Friday, hitting $290.48. The company's stock had a trading volume of 7,339,238 shares, compared to its average volume of 7,940,475. The stock's fifty day moving average is $286.42 and its two-hundred day moving average is $263.59. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $798.75 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11. JPMorgan Chase & Co. has a 1 year low of $200.61 and a 1 year high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The company had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the previous year, the business earned $6.12 earnings per share. The company's revenue for the quarter was down 10.5% on a year-over-year basis. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were given a $1.40 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,821 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $749,567.91. Following the sale, the general counsel owned 68,757 shares in the company, valued at $18,269,422.47. The trade was a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. 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 sale, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,557 shares of company stock worth $4,113,796 in the last 90 days. Company insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on JPM shares. Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, June 30th. Phillip Securities cut JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Finally, Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.