Covea Finance Makes New $15.14 Million Investment in JPMorgan Chase & Co. (NYSE:JPM)

Covea Finance acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 61,700 shares of the financial services provider’s stock, valued at approximately $15,135,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock valued at $14,161,171,000 after purchasing an additional 876,417 shares in the last quarter. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $8,310,884,000. Northern Trust Corp boosted its holdings in shares of JPMorgan Chase & Co. by 15.4% in the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of JPMorgan Chase & Co. by 9.1% in the 4th quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock valued at $5,475,223,000 after purchasing an additional 1,914,049 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the transaction, the director now directly owns 91,539 shares of the company’s stock, valued at approximately $22,884,750. The trade was a 9.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total value of $1,536,908.04. Following the completion of the transaction, the chief operating officer now directly owns 68,583 shares of the company’s stock, valued at approximately $17,197,873.08. This trade represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Up 1.3%

Shares of JPM opened at $278.46 on Tuesday. The company has a market capitalization of $773.87 billion, a PE ratio of 13.67, a PEG ratio of 2.57 and a beta of 1.08. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $280.25. The stock’s 50-day moving average price is $257.24 and its two-hundred day moving average price is $251.71. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last announced its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.63 by $0.44. The firm had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $4.44 EPS. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is presently 27.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on JPM shares. Royal Bank Of Canada reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, June 10th. Robert W. Baird raised their target price on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a “neutral” rating in a report on Tuesday, May 20th. Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Finally, Wall Street Zen raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Thirteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and an average target price of $271.90.

Get Our Latest Research Report on JPMorgan Chase & Co.

JPMorgan Chase & Co. Profile

(Free Report)

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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