JPMorgan Chase & Co. $JPM Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 682,056 shares of the financial services provider’s stock after selling 13,363 shares during the period. JPMorgan Chase & Co. comprises about 2.0% of Gateway Investment Advisers LLC’s holdings, making the stock its 9th largest holding. Gateway Investment Advisers LLC’s holdings in JPMorgan Chase & Co. were worth $219,772,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mountain Hill Investment Partners Corp. bought a new position in JPMorgan Chase & Co. in the third quarter valued at approximately $32,000. Turning Point Benefit Group Inc. bought a new position in JPMorgan Chase & Co. in the third quarter valued at approximately $35,000. Cresta Advisors Ltd. bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $48,000. Miller Global Investments LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $52,000. Finally, Collier Financial bought a new position in JPMorgan Chase & Co. in the third quarter valued at approximately $60,000. 71.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on JPM shares. Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Sunday, January 18th. Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Robert W. Baird set a $295.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. DZ Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $338.12.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 433 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $295.06, for a total transaction of $127,760.98. Following the transaction, the insider directly owned 64,920 shares of the company’s stock, valued at $19,155,295.20. This trade represents a 0.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jeremy Barnum sold 5,611 shares of the business’s stock in a transaction 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 completion of the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 79,849 shares of company stock valued at $24,522,956. 0.41% of the stock is owned by corporate insiders.

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

JPMorgan Chase & Co. Trading Down 0.7%

Shares of NYSE JPM opened at $297.93 on Friday. The company’s fifty day moving average is $299.67 and its 200-day moving average is $307.32. The stock has a market cap of $798.31 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 1.45 and a beta of 1.03. JPMorgan Chase & Co. has a twelve month low of $256.00 and a twelve month high of $337.25. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. The company 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 period last year, the firm posted $5.07 earnings per share. Equities research analysts predict that JPMorgan Chase & Co. will post 22.43 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

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

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.