Alberta Investment Management Corp Increases Stock Position in JPMorgan Chase & Co. $JPM

Alberta Investment Management Corp grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 902.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 283,750 shares of the financial services provider’s stock after buying an additional 255,450 shares during the period. Alberta Investment Management Corp’s holdings in JPMorgan Chase & Co. were worth $91,430,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Morgan Stanley boosted its stake in JPMorgan Chase & Co. by 1.4% during the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock worth $21,390,662,000 after acquiring an additional 939,421 shares in the last quarter. Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $11,396,496,000. Bank of New York Mellon Corp lifted its holdings in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock valued at $7,547,837,000 after purchasing an additional 1,194,583 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of JPMorgan Chase & Co. by 0.6% during the fourth 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 purchasing an additional 110,586 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of JPMorgan Chase & Co. by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider’s stock worth $5,161,532,000 after purchasing an additional 296,213 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on JPM shares. The Goldman Sachs Group set a $361.00 price target on JPMorgan Chase & Co. in a research note on Tuesday, April 14th. Robert W. Baird set a $295.00 target price on JPMorgan Chase & Co. in a report on Wednesday, April 15th. Evercore increased their target price on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Truist Financial raised their price target on JPMorgan Chase & Co. from $323.00 to $332.00 and gave the company a “hold” rating in a report on Wednesday, April 15th. Finally, Piper Sandler lifted their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $339.08.

Read Our Latest Stock Report on JPMorgan Chase & Co.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $331.13 on Wednesday. The company has a market cap of $887.27 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 1.56 and a beta of 1.00. The business’s fifty day simple moving average is $307.51 and its two-hundred day simple moving average is $307.30. JPMorgan Chase & Co. has a 12 month low of $267.80 and a 12 month high of $337.25. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping the consensus estimate of $5.50 by $0.44. The firm had revenue of $50.54 billion during the quarter, compared to analysts’ expectations of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.07 earnings per share. Research analysts anticipate that JPMorgan Chase & Co. will post 22.4 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. JPMorgan Chase & Co.’s payout ratio is 28.74%.

JPMorgan Chase & Co. News Roundup

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

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 433 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $295.06, for a total transaction of $127,760.98. Following the completion of the transaction, the insider directly owned 64,920 shares of the company’s stock, valued at $19,155,295.20. The trade was a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeremy Barnum sold 5,611 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $306.55, for a total transaction of $1,720,052.05. Following the transaction, the chief financial officer owned 35,460 shares in the company, valued at approximately $10,870,263. This trade represents a 13.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,589 shares of company stock worth $8,747,496 over the last quarter. 0.41% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Profile

(Free Report)

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.

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

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