Great Lakes Retirement Inc. acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 9,394 shares of the financial services provider’s stock, valued at approximately $1,260,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Moneta Group Investment Advisors LLC raised its stake in JPMorgan Chase & Co. by 105,652.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after buying an additional 97,907,897 shares during the period. Norges Bank bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $3,894,646,000. Price T Rowe Associates Inc. MD increased its holdings in JPMorgan Chase & Co. by 71.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,484,094 shares of the financial services provider’s stock worth $4,087,917,000 after purchasing an additional 12,654,947 shares in the last quarter. Morgan Stanley increased its holdings in JPMorgan Chase & Co. by 15.9% during the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after purchasing an additional 8,088,433 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $556,791,000. 67.89% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have commented on JPM shares. Bank of America boosted their price objective on JPMorgan Chase & Co. from $152.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, April 17th. Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, April 17th. Morgan Stanley boosted their price objective on JPMorgan Chase & Co. from $157.00 to $160.00 in a report on Tuesday, May 23rd. Piper Sandler upped their target price on JPMorgan Chase & Co. from $147.00 to $151.00 and gave the company an “overweight” rating in a report on Monday, April 17th. Finally, Jefferies Financial Group reduced their target price on JPMorgan Chase & Co. from $152.00 to $149.00 in a report on Monday, May 15th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average price target of $157.65.
JPMorgan Chase & Co. Trading Up 0.1 %
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted its earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.69. The firm had revenue of $38.35 billion for the quarter, compared to the consensus estimate of $35.77 billion. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. During the same quarter in the prior year, the business posted $2.63 earnings per share. The business’s quarterly revenue was up 24.8% on a year-over-year basis. As a group, analysts expect that JPMorgan Chase & Co. will post 14.36 EPS for the current year.
JPMorgan Chase & Co. Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be given a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.79%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.52%.
Insider Buying and Selling
In related news, Vice Chairman Peter Scher sold 1,240 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $135.02, for a total value of $167,424.80. Following the sale, the insider now owns 45,056 shares in the company, valued at $6,083,461.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jennifer Piepszak sold 1,871 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $140.70, for a total value of $263,249.70. Following the transaction, the chief executive officer now owns 22,926 shares of the company’s stock, valued at $3,225,688.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Peter Scher sold 1,240 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $135.02, for a total value of $167,424.80. Following the completion of the transaction, the insider now directly owns 45,056 shares in the company, valued at approximately $6,083,461.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,861 shares of company stock worth $19,858,275. Corporate insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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