Gamco Investors INC. ET AL Sells 7,122 Shares of JPMorgan Chase & Co. $JPM

Gamco Investors INC. ET AL lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 163,800 shares of the financial services provider’s stock after selling 7,122 shares during the quarter. Gamco Investors INC. ET AL’s holdings in JPMorgan Chase & Co. were worth $48,183,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth $11,396,496,000. Cardano Risk Management B.V. increased its holdings in JPMorgan Chase & Co. by 889.3% during the 4th quarter. Cardano Risk Management B.V. now owns 8,673,530 shares of the financial services provider’s stock worth $2,794,785,000 after purchasing an additional 7,796,814 shares in the last quarter. American Assets Investment Management LLC raised its stake in shares of JPMorgan Chase & Co. by 1,172.2% in the 4th quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider’s stock valued at $728,024,000 after purchasing an additional 2,081,800 shares during the period. Viking Global Investors LP raised its stake in shares of JPMorgan Chase & Co. by 86.1% in the 2nd quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider’s stock valued at $1,171,826,000 after purchasing an additional 1,870,386 shares during the period. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $474,516,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.8%

JPMorgan Chase & Co. stock opened at $356.15 on Tuesday. The firm has a 50-day moving average of $324.84 and a 200-day moving average of $311.12. JPMorgan Chase & Co. has a one year low of $279.10 and a one year high of $359.05. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.86. The company has a market cap of $954.30 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 1.47 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.59 by $0.55. The business had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.JPMorgan Chase & Co.’s quarterly revenue was up 27.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.96 earnings per share. On average, equities analysts expect that JPMorgan Chase & Co. will post 23.97 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared 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 1.7%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.71%.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: Strong earnings momentum: JPMorgan’s record second-quarter performance, including sharply higher earnings and revenue that exceeded analyst expectations, has reinforced investor confidence in its lending, trading and investment-banking operations. JPMorgan and Goldman Posted Record Quarters
• Positive Sentiment: Rising earnings estimates: Analysts are increasing their profit forecasts for JPMorgan, a trend that can support further near-term gains as investors reassess the bank’s earnings outlook. Earnings Estimates Rising for JPMorgan Chase
• Positive Sentiment: New payments opportunity: South Korea’s KB Kookmin Bank plans to use JPMorgan’s Kinexys blockchain for cross-border U.S.-dollar payments across 10 countries. The agreement highlights potential growth for JPMorgan’s institutional payments and digital-assets infrastructure. South Korea’s Largest Bank to Launch Payment Service on JPMorgan’s Kinexys
• Positive Sentiment: AI and efficiency appeal: Analysts continue to view JPMorgan favorably as it applies artificial intelligence to reduce costs and improve productivity, while maintaining strong cash generation and a diversified revenue base. These 3 AI Winners Don’t Sell the Tech—They Use It
• Neutral Sentiment: CEO Jamie Dimon’s account of his 2020 health crisis is personal and does not materially change JPMorgan’s current earnings or valuation outlook. Jamie Dimon Reveals the Moment He Knew It Might Be Goodbye
• Negative Sentiment: Risk warnings temper optimism: Dimon cautioned that investors may be underestimating geopolitical, fiscal and valuation risks. Rising consumer credit-card delinquencies and unusually volatile markets also represent potential pressure on future loan quality and results. Jamie Dimon Said Markets Are Underestimating Risks

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction that occurred 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 owned 32,438 shares of the company’s stock, valued at approximately $10,036,641.58. This represents a 8.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of the sale, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at approximately $26,326,072.44. The trade was a 5.47% 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 a total of 18,876 shares of company stock worth $5,907,051 over the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

JPM has been the subject of several recent research reports. Morgan Stanley reaffirmed a “positive” rating and set a $370.00 price objective on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 15th. Evercore reissued an “outperform” rating and issued a $360.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, July 6th. Royal Bank Of Canada boosted their target price on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. DZ Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $418.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $358.67.

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.