IFM Investors Pty Ltd Sells 4,656 Shares of JPMorgan Chase & Co. $JPM

IFM Investors Pty Ltd cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 528,882 shares of the financial services provider’s stock after selling 4,656 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.4% of IFM Investors Pty Ltd’s investment portfolio, making the stock its 11th largest holding. IFM Investors Pty Ltd’s holdings in JPMorgan Chase & Co. were worth $170,416,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $11,396,496,000. Bank of New York Mellon Corp grew its stake in shares of JPMorgan Chase & Co. by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock worth $7,547,837,000 after acquiring an additional 1,194,583 shares during the period. Legal & General Group Plc grew its stake in shares of JPMorgan Chase & Co. by 0.6% in the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock worth $6,128,484,000 after acquiring an additional 110,586 shares during the period. Fisher Asset Management LLC grew its stake in shares of JPMorgan Chase & Co. by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider’s stock worth $5,161,532,000 after acquiring an additional 296,213 shares during the period. Finally, Invesco Ltd. grew its stake in shares of JPMorgan Chase & Co. by 2.3% in the third quarter. Invesco Ltd. now owns 14,655,153 shares of the financial services provider’s stock worth $4,622,675,000 after acquiring an additional 322,735 shares during the period. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $313.85 on Friday. The firm has a 50 day moving average of $305.78 and a 200 day moving average of $306.87. 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 firm has a market capitalization of $840.97 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 1.51 and a beta of 1.00. JPMorgan Chase & Co. has a 12-month low of $262.71 and a 12-month high of $337.25.

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 company had revenue of $50.54 billion during the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business posted $5.07 earnings per share. On average, research analysts anticipate that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is currently 28.74%.

Insider Activity

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 9,136 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the transaction, the chief operating officer owned 90,001 shares of the company’s stock, valued at $27,590,706.56. The trade was a 9.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 5,611 shares of JPMorgan Chase & Co. 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 transaction, the chief financial officer directly owned 35,460 shares in the company, valued at $10,870,263. This represents a 13.66% 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. Insiders sold 28,589 shares of company stock worth $8,747,496 over the last ninety days. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on JPM. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. 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. UBS Group cut their target price on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research report on Wednesday, May 6th. Argus boosted their target price on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. Finally, Evercore boosted their target price on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Fourteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $339.08.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan’s global expansion remains a positive, including reports that it has deployed $20 billion in the Gulf and doubled its private bankers in Singapore, signaling continued growth in wealth management and international banking. Article: JP Morgan deploys $20bn in Gulf and says postwar rebuild may cost hundreds of billions
• Positive Sentiment: The company continues to benefit from investor optimism around higher-for-longer rates after hotter inflation data, which can support bank lending margins and trading activity. Article: May Inflation Hits 4.2% as Energy Prices Surge, Raising Pressure on Federal Reserve
• Positive Sentiment: JPMorgan’s involvement in tokenized treasuries and digital-asset market infrastructure suggests it is positioned to benefit if regulated crypto adoption continues to grow. Article: Tokenized Treasuries Are Moving Onto the XRP Ledger
• Neutral Sentiment: Jamie Dimon’s comments on Mexico’s economy and trade highlight JPMorgan’s active role in global corporate and sovereign banking, but the direct stock impact is limited. Article: JPMorgan’s Jamie Dimon Praises the Mexican Economy
• Neutral Sentiment: JPMorgan also had several analyst-related headlines on other companies, but these are mostly read-throughs and do not materially change the bank’s own outlook. Article: Coherent and Lumentum just got more attractive, according to J.P. Morgan
• Negative Sentiment: The DOJ has subpoenaed JPMorgan in a widening “debanking” investigation, creating a potential legal and reputational risk for the bank. Article: US Justice Department subpoenas major banks over alleged ‘debanking’
• Negative Sentiment: JPMorgan and other banks also lost a lawsuit over alleged missed red flags at Tricolor, which may keep credit-risk concerns in focus. Article: JPMorgan, Barclays, Fifth Third defeat lawsuit over missed ‘red flags’ at Tricolor

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.