Principal Financial Group Inc. Sells 172,687 Shares of JPMorgan Chase & Co. $JPM

Principal Financial Group Inc. lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,961,596 shares of the financial services provider’s stock after selling 172,687 shares during the period. JPMorgan Chase & Co. comprises approximately 0.8% of Principal Financial Group Inc.’s holdings, making the stock its 22nd largest holding. Principal Financial Group Inc. owned about 0.18% of JPMorgan Chase & Co. worth $1,459,503,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its position in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after purchasing an additional 4,841 shares during the period. Acorns Advisers LLC lifted its position in shares of JPMorgan Chase & Co. by 6.9% in the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 100 shares during the period. Ignite Planners LLC lifted its position in shares of JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider’s stock worth $3,185,000 after purchasing an additional 78 shares during the period. Jump Financial LLC bought a new position in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $1,475,000. Finally, Betterment LLC boosted its stake in shares of JPMorgan Chase & Co. by 27.5% during the second quarter. Betterment LLC now owns 1,970 shares of the financial services provider’s stock valued at $571,000 after purchasing an additional 425 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Activity

In other news, General Counsel Stacey Friedman sold 5,467 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total value of $1,808,100.91. Following the completion of the sale, the general counsel owned 40,961 shares of the company’s stock, valued at $13,547,031.53. This trade represents a 11.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the firm’s 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 completion of the sale, the chief financial officer directly owned 32,438 shares of the company’s stock, valued at $10,036,641.58. The trade was a 8.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 18,876 shares of company stock worth $5,907,051. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on JPM. Argus lifted their price objective on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday. DZ Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Royal Bank Of Canada boosted their price target on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Morgan Stanley restated a “positive” rating and set a $370.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday. Fifteen analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $354.92.

JPMorgan Chase & Co. Trading Down 0.5%

NYSE JPM opened at $341.60 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. The firm has a market cap of $915.33 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.54 and a beta of 0.99. The company has a 50 day moving average price of $319.11 and a 200 day moving average price of $310.31. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $351.24.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.44. The company had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. JPMorgan Chase & Co.’s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the firm earned $5.07 earnings per share. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 23.24 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm 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 dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.71%.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: JPMorgan’s blowout Q2 earnings are driving bullish sentiment, with the bank reporting record profits, 41% higher net income, strong trading and investment banking activity, and higher full-year net interest income guidance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income — Up 41% — and CEO Jamie Dimon Said the Economy Is “Close to as Good as It Gets.”
• Positive Sentiment: Analysts have been raising expectations after the results, including multiple higher price targets and upgraded earnings forecasts, signaling confidence that JPMorgan can continue to outperform. JPMorgan Price Target Raised to $380 on Strong Q2 Results, Upgraded Outlook and Capital Strength
• Positive Sentiment: The stock is also benefiting from expectations that JPMorgan may raise its quarterly dividend by 10% after passing the Federal Reserve stress test, reinforcing the bank’s capital strength and shareholder-return story. JPM Stock Just Staged a Record Bull Run. 1 Analyst Thinks It Can Still Soar to $420.
• Neutral Sentiment: JPMorgan was added to several “Strong Buy” and momentum/income stock lists, which adds to positive sentiment but is less directly impactful than earnings or guidance. New Strong Buy Stocks for July 17th
• Neutral Sentiment: JPMorgan also drew attention for major financing activity and a $24 million Philadelphia shipbuilding investment, highlighting ongoing business expansion and capital deployment. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Late-day sector weakness in financial stocks may be limiting JPMorgan’s upside even as company-specific fundamentals remain strong. Sector Update: Financial Stocks Decline Friday Afternoon

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.