Stevens Capital Management LP Lowers Stock Holdings in JPMorgan Chase & Co. $JPM

Stevens Capital Management LP trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 46.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,780 shares of the financial services provider’s stock after selling 2,432 shares during the period. Stevens Capital Management LP’s holdings in JPMorgan Chase & Co. were worth $896,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Mountain Hill Investment Partners Corp. purchased a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $32,000. Turning Point Benefit Group Inc. purchased a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $35,000. Cresta Advisors Ltd. purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $48,000. Miller Global Investments LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $52,000. Finally, Collier Financial purchased a new position in JPMorgan Chase & Co. in the 3rd quarter worth approximately $60,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorganChase declared dividends on its Series II, OO and PP preferred stock, signaling continued capital return and financial stability. JPMorganChase Declares Preferred Stock Dividends
• Positive Sentiment: Reuters reported that JPMorgan’s long-running push into early-stage tech banking is paying off, with the firm now leading global technology investment banking and winning business from startup clients early in their growth cycle. JPMorgan’s bet on early-stage companies pays off in leading global tech investment banking
• Positive Sentiment: Chase continued expanding its branch network, opening 18 new branches in May as part of a multibillion-dollar expansion, which supports deposit gathering and retail growth over time. Chase Opens 18 Branches in May Amid Multibillion-Dollar Expansion

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,404 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $306.40, for a total value of $1,042,985.60. Following the completion of the transaction, the general counsel owned 61,949 shares of the company’s stock, valued at approximately $18,981,173.60. This trade represents a 5.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the transaction, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at approximately $26,326,072.44. This trade represents a 5.47% 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 a total of 79,849 shares of company stock valued at $24,522,956 over the last three months. Company insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Argus boosted their price objective on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Sunday, January 18th. Daiwa Securities Group decreased their price objective on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Finally, The Goldman Sachs Group set a $361.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, April 14th. Fifteen 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $338.12.

JPMorgan Chase & Co. Trading Down 0.7%

Shares of JPM stock opened at $297.93 on Friday. JPMorgan Chase & Co. has a 52-week low of $256.00 and a 52-week high of $337.25. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $798.31 billion, a PE ratio of 14.27, a PEG ratio of 1.46 and a beta of 1.03. The stock has a fifty day simple moving average of $299.67 and a two-hundred day simple moving average of $307.32.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping the consensus estimate of $5.50 by $0.44. The business 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 quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.07 EPS. On average, analysts predict that JPMorgan Chase & Co. will post 22.42 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 6th were paid a dividend of $1.50 per share. The ex-dividend date was Monday, April 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.74%.

JPMorgan Chase & Co. 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.