First Manhattan CO. LLC. Lowers Position in JPMorgan Chase & Co. $JPM

First Manhattan CO. LLC. lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 299,794 shares of the financial services provider’s stock after selling 5,018 shares during the quarter. First Manhattan CO. LLC.’s holdings in JPMorgan Chase & Co. were worth $96,600,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in JPM. Timmons Wealth Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $32,000. Turning Point Benefit Group Inc. purchased a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $35,000. Merrithew & Thorsten Inc purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $40,000. Finally, WHI TRUST Co LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at approximately $45,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.7%

Shares of JPM stock opened at $333.45 on Thursday. The stock has a market cap of $893.47 billion, a P/E ratio of 15.97, a PEG ratio of 1.62 and a beta of 1.00. JPMorgan Chase & Co. has a 52 week low of $269.72 and a 52 week high of $337.77. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. The company’s fifty day simple moving average is $308.27 and its two-hundred day simple moving average is $307.48.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results 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 firm had revenue of $50.54 billion for 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% compared to the same quarter last year. During the same period in the prior year, the company earned $5.07 EPS. Analysts predict that JPMorgan Chase & Co. will post 22.4 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders 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 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.74%.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan’s Chase digital bank is reportedly expanding deeper into Europe, which could open a new long-term retail growth channel beyond the U.S. JPMorgan Chase (JPM) Expands Chase Digital Bank Across Europe In Five Year Push
• Positive Sentiment: JPMorgan has been highlighted as a leadership name in financials, with chart-focused coverage suggesting the stock’s uptrend may still have room to continue. Chart of the Day: JPMorgan’s Bull Market May Be Far From Over
• Positive Sentiment: Rising short-term Treasury yields after hawkish Fed messaging support the outlook for banks by improving lending spreads and reinforcing a higher-for-longer rate environment. Traders Fully Price in a Rate Hike by October on Hawkish Fed
• Neutral Sentiment: The broader financial sector was mixed to slightly softer late in the day, which could temper some of the gains in bank shares. Sector Update: Financial Stocks Softer Late Afternoon
• Neutral Sentiment: JPMorgan and other financial firms were named in an Epstein-related records preservation request, but this appears more like a legal headline than a direct fundamental catalyst for JPM stock. Market Chatter: JPMorgan, Google Among Firms Asked to Preserve Records in Epstein Ranch Investigation
• Negative Sentiment: Potentially higher borrowing costs from the Fed’s hawkish tone could also pressure parts of the economy and weigh on rate-sensitive sentiment if investors worry about slower loan growth or credit quality. Bond Rally Fails to Allay Higher-for-Longer Global Rates Threat

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 433 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $295.06, for a total transaction of $127,760.98. Following the completion of the sale, the insider owned 64,920 shares of the company’s stock, valued at $19,155,295.20. This represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $1,720,052.05. Following the sale, the chief financial officer directly owned 35,460 shares of the company’s stock, valued at $10,870,263. The trade was a 13.66% decrease in their position. 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. Insiders have sold 28,589 shares of company stock valued at $8,747,496 over the last 90 days. 0.41% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Robert W. Baird set a $295.00 price objective on JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Zacks Research lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Evercore boosted their price objective on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Autonomous Res decreased their target price on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. Finally, Barclays reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $339.08.

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.