Punch & Associates Investment Management Inc. Sells 1,587 Shares of JPMorgan Chase & Co. $JPM

Punch & Associates Investment Management Inc. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,452 shares of the financial services provider’s stock after selling 1,587 shares during the period. Punch & Associates Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $13,076,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Timmons Wealth Management LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $27,000. MBM Wealth Consultants LLC acquired a new position in shares of JPMorgan Chase & Co. during the first quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $32,000. Turning Point Benefit Group Inc. bought a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth $35,000. Finally, Osbon Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $35,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.8%

NYSE JPM opened at $356.15 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The business has a fifty day simple moving average of $324.84 and a 200 day simple moving average of $311.12. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $359.05. The firm has a market capitalization of $954.30 billion, a P/E ratio of 15.26, a PEG ratio of 1.47 and a beta of 0.99.

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

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.71%.

Wall Street Analyst Weigh In

A number of analysts have commented on JPM shares. Daiwa Securities Group decreased their price target on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Jefferies Financial Group set a $350.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 14th. Citigroup boosted their target price on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. UBS Group upped their target price on shares of JPMorgan Chase & Co. from $375.00 to $384.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Finally, Barclays raised their price target on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $358.67.

Trending Headlines about JPMorgan Chase & Co.

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

In related news, General Counsel Stacey Friedman sold 5,468 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the transaction, the general counsel directly owned 46,428 shares in the company, valued at approximately $13,940,935.56. The trade was a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total transaction of $935,037.02. Following the completion of the sale, the chief financial officer directly owned 32,438 shares of the company’s stock, valued at $10,036,641.58. The trade was a 8.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 18,876 shares of company stock worth $5,907,051. 0.41% of the stock is owned by insiders.

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.