JPMorgan Chase & Co. $JPM Shares Sold by Saranac Partners Ltd

Saranac Partners Ltd lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 96.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 882 shares of the financial services provider’s stock after selling 26,086 shares during the quarter. Saranac Partners Ltd’s holdings in JPMorgan Chase & Co. were worth $284,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Tredje AP fonden raised its stake in shares of JPMorgan Chase & Co. by 12.3% in the 4th quarter. Tredje AP fonden now owns 1,107,331 shares of the financial services provider’s stock valued at $356,804,000 after purchasing an additional 121,203 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of JPMorgan Chase & Co. by 4.2% in the 4th quarter. Larson Financial Group LLC now owns 42,051 shares of the financial services provider’s stock valued at $13,550,000 after purchasing an additional 1,695 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of JPMorgan Chase & Co. by 8.1% in the 4th quarter. Handelsbanken Fonder AB now owns 1,893,501 shares of the financial services provider’s stock valued at $610,124,000 after purchasing an additional 141,103 shares in the last quarter. AMF Tjanstepension AB raised its stake in shares of JPMorgan Chase & Co. by 9.7% in the 4th quarter. AMF Tjanstepension AB now owns 840,975 shares of the financial services provider’s stock valued at $270,979,000 after purchasing an additional 74,114 shares in the last quarter. Finally, Paul R. Ried Financial Group LLC raised its stake in shares of JPMorgan Chase & Co. by 11.9% in the 4th quarter. Paul R. Ried Financial Group LLC now owns 1,225 shares of the financial services provider’s stock valued at $395,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: CEO Jamie Dimon said JPMorgan Chase could have up to $10 billion to $20 billion available for a major acquisition, signaling the bank has substantial firepower and flexibility to pursue deals if the right opportunity emerges. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
• Positive Sentiment: JPMorgan Asset Management launched a new Managed Futures Plus ETF (JPFP), expanding its active ETF lineup and reinforcing the firm’s asset-management franchise. J.P. Morgan Asset Management Launches JPMorgan Managed Futures Plus ETF (JPFP) on NYSE
• Positive Sentiment: JPMorgan’s strategists said retail trading activity may rebound, which could provide a broader tailwind for U.S. stocks and trading-related revenues. Retail Revival Adds Fuel to US Stocks, JPMorgan Strategists Say
• Neutral Sentiment: The company announced a preferred stock redemption, a routine capital-management move that is generally not material on its own. JPMorganChase Announcement Concerning Preferred Stock
• Neutral Sentiment: JPMorgan also said a Bitcoin ETF outflow trend may reflect a “cooling” crypto trade, which is more of a market commentary than a direct earnings catalyst for JPM. JPMorgan Says Bitcoin ETF Outflows A Sign Of ‘Cooling’ Trade
• Negative Sentiment: Dimon also warned that JPMorgan is “over-earning” and that costs could rise, which spooked investors by suggesting margin pressure and less durable profit levels. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
• Negative Sentiment: JPMorgan is also facing headlines over a $4.25 million arbitration ruling tied to the “salami incident,” adding an unwanted legal and reputational distraction. The ‘Salami Incident’ That Has JPMorgan Chase on the Hook for $4.25 Million

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $296.53 on Friday. JPMorgan Chase & Co. has a 52 week low of $260.31 and a 52 week high of $337.25. 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 $794.56 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 1.46 and a beta of 1.03. The company has a 50-day moving average price of $302.25 and a two-hundred day moving average price of $306.84.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.50 by $0.44. The business had revenue of $50.54 billion during the quarter, compared to analysts’ expectations of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm posted $5.07 earnings per share. Analysts forecast that JPMorgan Chase & Co. will post 22.4 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a $1.50 dividend. The ex-dividend date is Monday, July 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.74%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on JPM. DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Autonomous Res dropped their price objective on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a research note on Monday, April 6th. Barclays reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 6th. Zacks Research lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Finally, Daiwa Securities Group dropped their price objective on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $339.08.

Insider Activity at JPMorgan Chase & Co.

In other news, CFO Jeremy Barnum sold 5,611 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $306.55, for a total value of $1,720,052.05. Following the completion of the transaction, the chief financial officer directly owned 35,460 shares in the company, valued at $10,870,263. This trade represents a 13.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 that occurred on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the transaction, the general counsel owned 46,428 shares of the company’s stock, valued at $13,940,935.56. This trade represents a 10.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 28,589 shares of company stock valued at $8,747,496. 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.