Premier Fund Managers Ltd Sells 7,800 Shares of JPMorgan Chase & Co. $JPM

Premier Fund Managers Ltd lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 82,324 shares of the financial services provider’s stock after selling 7,800 shares during the period. JPMorgan Chase & Co. comprises about 1.5% of Premier Fund Managers Ltd’s portfolio, making the stock its 27th biggest position. Premier Fund Managers Ltd’s holdings in JPMorgan Chase & Co. were worth $26,631,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legal & General Group Plc grew its position in shares of JPMorgan Chase & Co. by 3.3% in the 3rd 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 last quarter. Fisher Asset Management LLC grew its position in shares of JPMorgan Chase & Co. by 2.3% in the 3rd 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 last quarter. Invesco Ltd. grew its position in shares of JPMorgan Chase & Co. by 2.3% in the 3rd 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 last quarter. Boston Partners grew its position in shares of JPMorgan Chase & Co. by 2.3% in the 3rd 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 last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of JPMorgan Chase & Co. by 0.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,809,417 shares of the financial services provider’s stock valued at $2,147,894,000 after buying an additional 31,421 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Key Headlines 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

Insider Activity at JPMorgan Chase & Co.

In related news, CEO Troy L. Rohrbaugh sold 50,000 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $307.11, for a total transaction of $15,355,500.00. Following the sale, the chief executive officer owned 111,279 shares in the company, valued at $34,174,893.69. This represents a 31.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer Piepszak sold 4,919 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer owned 85,082 shares in the company, valued at approximately $26,326,072.44. The trade was a 5.47% decrease in their position. 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. Insiders have sold 79,849 shares of company stock worth $24,522,956 over the last quarter. 0.41% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Down 0.7%

Shares of JPMorgan Chase & Co. stock opened at $297.93 on Friday. JPMorgan Chase & Co. has a one year low of $256.00 and a one year high of $337.25. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s 50-day moving average is $299.67 and its 200 day moving average is $307.32. The firm has a market cap of $798.31 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.45 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $48.30 billion. During the same quarter in the prior year, the company earned $5.07 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities research analysts anticipate that JPMorgan Chase & Co. will post 22.43 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were given a dividend of $1.50 per share. The ex-dividend date was Monday, April 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.74%.

Analyst Ratings Changes

A number of equities research analysts have commented on JPM shares. Autonomous Res reduced their price target on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, February 24th. Jefferies Financial Group reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Argus upped their price target on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. Finally, Evercore upped their price target on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $338.12.

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.