Payden & Rygel Sells 10,600 Shares of JPMorgan Chase & Co. $JPM

Payden & Rygel trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 152,150 shares of the financial services provider’s stock after selling 10,600 shares during the period. JPMorgan Chase & Co. accounts for approximately 3.4% of Payden & Rygel’s holdings, making the stock its 6th largest position. Payden & Rygel’s holdings in JPMorgan Chase & Co. were worth $49,026,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Gambit Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $1,219,000. Evergreen Wealth Management LLC lifted its position in shares of JPMorgan Chase & Co. by 2.2% during the fourth quarter. Evergreen Wealth Management LLC now owns 8,136 shares of the financial services provider’s stock worth $2,622,000 after purchasing an additional 178 shares in the last quarter. Tanglewood Legacy Advisors LLC lifted its position in shares of JPMorgan Chase & Co. by 7.4% during the fourth quarter. Tanglewood Legacy Advisors LLC now owns 1,766 shares of the financial services provider’s stock worth $569,000 after purchasing an additional 122 shares in the last quarter. Aerodigm Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $320,000. Finally, Stronghold Wealth Management L.L.C. acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $965,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling 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 value of $127,760.98. Following the transaction, the insider directly owned 64,920 shares in the company, valued at $19,155,295.20. This represents a 0.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 5,468 shares of the company’s 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 sale, the general counsel directly owned 46,428 shares of the company’s stock, valued at $13,940,935.56. The trade was a 10.54% 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. Over the last ninety days, insiders have sold 28,589 shares of company stock valued at $8,747,496. 0.41% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Trading Down 2.5%

Shares of NYSE JPM opened at $299.04 on Thursday. The company’s 50 day simple moving average is $302.05 and its 200 day simple moving average is $306.96. JPMorgan Chase & Co. has a fifty-two week low of $260.31 and a fifty-two week high of $337.25. The firm has a market capitalization of $801.27 billion, a P/E ratio of 14.32, a P/E/G ratio of 1.50 and a beta of 1.03. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data 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. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. During the same period in the prior year, the business posted $5.07 earnings per share. JPMorgan Chase & Co.’s revenue was up 10.0% compared to the same quarter last year. On average, analysts predict that JPMorgan Chase & Co. will post 22.4 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on JPM. The Goldman Sachs Group set a $361.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, April 14th. Autonomous Res reduced their target price on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. Argus upped their target price on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Royal Bank Of Canada reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Finally, Wells Fargo & Company reduced their target price on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 17th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $339.08.

Key JPMorgan Chase & Co. News

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

• Negative Sentiment: JPMorgan may spend heavily on acquisitions, which could reduce capital flexibility and pressure returns if deals are expensive or hard to integrate. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
• Negative Sentiment: Dimon said earnings may not stay at current levels and that costs are likely to rise, which raises concerns about margin pressure. JPMorgan Chase Stock Is Falling: What’s Happening Today?
• Neutral Sentiment: The bank also announced it will redeem $2.0 billion of Series KK preferred stock, a routine capital-management move that is not likely to change the investment thesis on its own. JPMorgan Chase to Redeem Series KK Preferred Stock
• Positive Sentiment: Dimon’s willingness to consider large acquisitions also reflects confidence in JPMorgan’s excess capital and long-term growth options, which could support the stock over time if management finds attractive targets. Jamie Dimon says JPMorgan could spend up to $20bn on a new acquisition

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.