iA Global Asset Management Inc. Boosts Holdings in JPMorgan Chase & Co. $JPM

iA Global Asset Management Inc. increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 263,155 shares of the financial services provider’s stock after acquiring an additional 26,480 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.1% of iA Global Asset Management Inc.’s portfolio, making the stock its 21st largest holding. iA Global Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $77,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in JPM. Timmons Wealth Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $27,000. MBM Wealth Consultants LLC acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $32,000. Osbon Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $35,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $330.73, for a total value of $1,808,100.91. Following the sale, the general counsel directly owned 40,961 shares of the company’s stock, valued at approximately $13,547,031.53. This represents a 11.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the transaction, the chief operating officer owned 85,082 shares of the company’s stock, valued at $26,326,072.44. This trade represents a 5.47% decrease in their ownership of the stock. 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 33,623 shares of company stock worth $10,427,835 in the last three months. Corporate insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $333.91 on Friday. JPMorgan Chase & Co. has a 1-year low of $279.10 and a 1-year high of $343.45. The company has a market capitalization of $894.72 billion, a P/E ratio of 15.99, a PEG ratio of 1.53 and a beta of 0.99. The business has a 50 day moving average price of $313.35 and a 200 day moving average price of $309.10. 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 posted its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. The company had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.JPMorgan Chase & Co.’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned $5.07 earnings per share. Sell-side analysts expect that JPMorgan Chase & Co. will post 22.76 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: Wall Street commentary remains supportive, with analysts reworking revenue assumptions and nudging fair-value estimates higher for JPMorgan ahead of earnings. JPMorgan Chase (JPM) Stock Gets Fair Value Bump As Analysts Rework Revenue Outlook
• Positive Sentiment: Investors are also looking ahead to JPMorgan’s July 14 earnings report, with revisions trends for bank stocks still positive and expectations for the June-quarter cycle trending up. Q2 Earnings Season Nears Kickoff: Bank Earnings in Focus
• Positive Sentiment: JPMorgan’s brand and consumer franchise also got a boost from coverage of the Chase credit-card lounge wars, highlighting its push to win affluent customers and deepen loyalty. American Express and Chase move luxury lounge wars beyond the airport
• Neutral Sentiment: The bank disclosed a larger stake in Umicore SA, showing ongoing investing activity but not a clear direct catalyst for JPM shares. How JPMorgan’s Higher Umicore SA (UMICY) Stake Keeps Focus on Its Circular Battery Materials Platform
• Neutral Sentiment: JPMorgan also remained in the headlines for its broader market views, including warnings on crypto-market risks and support for clearer US crypto rules; these are more thematic than stock-moving in the near term. JPMorgan Says Saylor’s Strategy Adds New Risk to Bitcoin Market
• Negative Sentiment: Governance-related headlines may be weighing on sentiment, including the end of Marianne Lake’s CEO succession bid and her reported $50 million in unvested stock after Dimon chose other successors. JPMorgan CEO contender walks away with $50M in unvested stock after losing Jamie Dimon succession race
• Negative Sentiment: There was also another adverse legal headline, as a judge rejected JPMorgan’s challenge to a disputed $74 million legal-fee bill tied to the Charlie Javice fraud case. JPMorgan Loses Javice Legal Fee Fight
• Negative Sentiment: Separately, JPMorgan must keep paying Charlie Javice’s legal fees, adding to the expense and reputational overhang from the long-running fraud case. JPMorgan has to keep paying Charlie Javice’s legal fees, judge rules

Wall Street Analyst Weigh In

A number of research firms have commented on JPM. UBS Group dropped their price objective on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research note on Wednesday, May 6th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Zacks Research downgraded JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Argus upped their price target on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, April 15th. Finally, Jefferies Financial Group reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, June 25th. Fourteen equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $340.88.

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.