Cooke & Bieler LP Cuts Position in JPMorgan Chase & Co. $JPM

Cooke & Bieler LP lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 65.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,872 shares of the financial services provider’s stock after selling 3,603 shares during the quarter. Cooke & Bieler LP’s holdings in JPMorgan Chase & Co. were worth $603,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Legal & General Group Plc increased its holdings in JPMorgan Chase & Co. by 0.6% during the 4th 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 acquiring an additional 110,586 shares in the last quarter. Fisher Asset Management LLC increased its holdings in JPMorgan Chase & Co. by 1.9% during the 4th 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. Invesco Ltd. increased its holdings in JPMorgan Chase & Co. by 2.3% during 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 acquiring an additional 322,735 shares in the last quarter. Boston Partners increased its holdings in JPMorgan Chase & Co. by 2.3% during 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 acquiring an additional 168,184 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in JPMorgan Chase & Co. by 19.6% during the 3rd 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 acquiring an additional 1,082,913 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan is being highlighted as a diversified, defensive stock outside the AI trade, which may attract investors looking for safety and quality in a rotation away from tech. Jim Cramer says look to buy these 5 stocks outside the AI trade for diversification
• Positive Sentiment: Analysts expect JPMorgan’s Q2 fee income to improve, supported by stronger markets revenue and investment banking fees, which could boost earnings expectations. JPMorgan’s Bullish Q2 Outlook Highlights Fee Income Potential
• Positive Sentiment: JPMorgan expanded a $500 million fixed-to-floating notes offering, reinforcing its active capital markets franchise and funding flexibility. JPMorgan Chase Expands 2030 Fixed-to-Floating Notes Offering
• Neutral Sentiment: JPMorgan CEO Jamie Dimon reportedly flagged a possible $20 billion acquisition and continued European expansion, which keeps deal-making and growth optionality in focus but adds uncertainty on execution. JPMorgan Weighs US$20b Deal While Expanding In Europe And Crypto Debate
• Neutral Sentiment: Zacks noted that JPMorgan has recently been outperforming the market, reflecting continued investor confidence in the bank’s fundamentals. JPMorgan Chase & Co. (JPM) Exceeds Market Returns: Some Facts to Consider

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $301.32 on Wednesday. JPMorgan Chase & Co. has a 12-month low of $260.31 and a 12-month high of $337.25. The stock has a market capitalization of $807.38 billion, a P/E ratio of 14.43, a P/E/G ratio of 1.45 and a beta of 1.00. The firm’s 50-day moving average is $302.65 and its two-hundred day moving average is $306.58. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last released 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 net margin of 20.66% and a return on equity of 17.54%. The company had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. During the same period last 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 analysts predict that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

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. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.74%.

Insider Activity

In related news, CFO Jeremy Barnum sold 3,022 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 that occurred on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the sale, the general counsel directly owned 46,428 shares in the company, valued at $13,940,935.56. This represents a 10.54% 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. Insiders sold 28,589 shares of company stock valued at $8,747,496 over the last quarter. 0.41% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on JPM. Barclays restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, May 6th. Robert W. Baird set a $295.00 target price on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Royal Bank Of Canada restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Jefferies Financial Group reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Finally, Truist Financial raised their price target on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a “hold” rating in a research note on Wednesday, April 15th. Fifteen analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $339.08.

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.