Nuveen LLC Lowers Stock Position in JPMorgan Chase & Co. $JPM

Nuveen LLC lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,775,402 shares of the financial services provider’s stock after selling 597,143 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.2% of Nuveen LLC’s portfolio, making the stock its 11th biggest position. Nuveen LLC’s holdings in JPMorgan Chase & Co. were worth $4,760,930,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at $11,396,496,000. Bank of New York Mellon Corp lifted its position in JPMorgan Chase & Co. by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock valued at $7,547,837,000 after buying an additional 1,194,583 shares during the period. Legal & General Group Plc lifted its position in JPMorgan Chase & Co. by 0.6% during the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock valued at $6,128,484,000 after buying an additional 110,586 shares during the period. Fisher Asset Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider’s stock valued at $5,161,532,000 after acquiring an additional 296,213 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of 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 acquiring an additional 322,735 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of several analyst reports. Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, May 12th. Jefferies Financial Group restated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Truist Financial raised their price target on JPMorgan Chase & Co. from $323.00 to $332.00 and gave the company a “hold” rating in a report on Wednesday, April 15th. Daiwa Securities Group reduced their price target on JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Finally, The Goldman Sachs Group set a $361.00 price target on JPMorgan Chase & Co. in a report on Tuesday, April 14th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $339.08.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $313.85 on Friday. JPMorgan Chase & Co. has a one year low of $262.71 and a one year high of $337.25. The stock has a 50-day moving average of $305.78 and a 200 day moving average of $306.87. The company has a market capitalization of $840.97 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.51 and a beta of 1.00. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 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 company had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. During the same period last year, the company earned $5.07 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 22.4 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

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

Key Headlines 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

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 5,611 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.55, for a total value of $1,720,052.05. Following the transaction, the chief financial officer directly owned 35,460 shares of the company’s stock, valued at approximately $10,870,263. This trade represents a 13.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the transaction, the general counsel directly owned 46,428 shares in the company, valued at $13,940,935.56. The trade was a 10.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 28,589 shares of company stock valued at $8,747,496. Company insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Company 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.