Cullen Frost Bankers Inc. Sells 19,534 Shares of JPMorgan Chase & Co. $JPM

Cullen Frost Bankers Inc. decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 344,281 shares of the financial services provider’s stock after selling 19,534 shares during the period. JPMorgan Chase & Co. makes up approximately 1.2% of Cullen Frost Bankers Inc.’s investment portfolio, making the stock its 20th biggest position. Cullen Frost Bankers Inc.’s holdings in JPMorgan Chase & Co. were worth $110,934,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its stake in JPMorgan Chase & Co. by 3.3% during the third quarter. Legal & General Group Plc now owns 18,908,978 shares of the financial services provider’s stock valued at $5,964,459,000 after buying an additional 607,025 shares during the period. Fisher Asset Management LLC boosted its stake in JPMorgan Chase & Co. by 2.3% during the third quarter. Fisher Asset Management LLC now owns 15,722,443 shares of the financial services provider’s stock valued at $4,959,330,000 after buying an additional 347,033 shares during the period. Invesco Ltd. boosted its stake in JPMorgan Chase & Co. by 2.3% during the third quarter. Invesco Ltd. now owns 14,655,153 shares of the financial services provider’s stock valued at $4,622,675,000 after buying an additional 322,735 shares during the period. Boston Partners boosted its stake in JPMorgan Chase & Co. by 2.3% during the third quarter. Boston Partners now owns 7,492,763 shares of the financial services provider’s stock valued at $2,360,045,000 after buying an additional 168,184 shares during the period. Finally, California Public Employees Retirement System boosted its stake in JPMorgan Chase & Co. by 19.6% during the third quarter. California Public Employees Retirement System now owns 6,615,749 shares of the financial services provider’s stock valued at $2,086,806,000 after buying an additional 1,082,913 shares during the period. Institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,919 shares of JPMorgan Chase & Co. stock in a transaction dated 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 completion of the sale, the chief operating officer owned 85,082 shares of the company’s stock, valued at $26,326,072.44. The trade was a 5.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the sale, the chief financial officer directly owned 32,438 shares of the company’s stock, valued at approximately $10,036,641.58. This trade represents a 8.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 28,589 shares of company stock worth $8,747,496. 0.41% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Trading Down 0.9%

Shares of JPM stock opened at $296.53 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. The business has a 50-day moving average price of $302.25 and a two-hundred day moving average price of $306.84. JPMorgan Chase & Co. has a 12-month low of $260.31 and a 12-month high of $337.25. The firm has a market cap of $794.56 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 1.46 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The firm had revenue of $50.54 billion during the quarter, compared to analyst estimates of $48.30 billion. During the same quarter in the previous year, the company posted $5.07 earnings per share. The company’s revenue was up 10.0% compared to the same quarter last year. Equities analysts anticipate that JPMorgan Chase & Co. will post 22.4 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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 paid 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 2.0%. JPMorgan Chase & Co.’s payout ratio is 28.74%.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: CEO Jamie Dimon said JPMorgan Chase could have up to $10 billion to $20 billion available for a major acquisition, signaling the bank has substantial firepower and flexibility to pursue deals if the right opportunity emerges. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
• Positive Sentiment: JPMorgan Asset Management launched a new Managed Futures Plus ETF (JPFP), expanding its active ETF lineup and reinforcing the firm’s asset-management franchise. J.P. Morgan Asset Management Launches JPMorgan Managed Futures Plus ETF (JPFP) on NYSE
• Positive Sentiment: JPMorgan’s strategists said retail trading activity may rebound, which could provide a broader tailwind for U.S. stocks and trading-related revenues. Retail Revival Adds Fuel to US Stocks, JPMorgan Strategists Say
• Neutral Sentiment: The company announced a preferred stock redemption, a routine capital-management move that is generally not material on its own. JPMorganChase Announcement Concerning Preferred Stock
• Neutral Sentiment: JPMorgan also said a Bitcoin ETF outflow trend may reflect a “cooling” crypto trade, which is more of a market commentary than a direct earnings catalyst for JPM. JPMorgan Says Bitcoin ETF Outflows A Sign Of ‘Cooling’ Trade
• Negative Sentiment: Dimon also warned that JPMorgan is “over-earning” and that costs could rise, which spooked investors by suggesting margin pressure and less durable profit levels. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
• Negative Sentiment: JPMorgan is also facing headlines over a $4.25 million arbitration ruling tied to the “salami incident,” adding an unwanted legal and reputational distraction. The ‘Salami Incident’ That Has JPMorgan Chase on the Hook for $4.25 Million

Analyst Ratings Changes

JPM has been the subject of several research analyst reports. Wells Fargo & Company dropped their price objective on JPMorgan Chase & Co. from $360.00 to $350.00 and set an “overweight” rating for the company in a research note on Tuesday, February 17th. Barclays reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 6th. Truist Financial lifted their price objective on JPMorgan Chase & Co. from $323.00 to $332.00 and gave the company a “hold” rating in a research note on Wednesday, April 15th. Evercore lifted their price objective on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Fifteen 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, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus price target of $339.08.

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.