Canada Pension Plan Investment Board Grows Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Canada Pension Plan Investment Board grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 6.6% during the first quarter, Holdings Channel reports. The firm owned 3,106,563 shares of the financial services provider’s stock after acquiring an additional 191,944 shares during the period. Canada Pension Plan Investment Board’s holdings in JPMorgan Chase & Co. were worth $622,245,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Capital International Investors increased its holdings in shares of JPMorgan Chase & Co. by 1.9% in the first quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock valued at $8,471,687,000 after purchasing an additional 778,297 shares during the period. Norges Bank acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $6,016,878,000. Capital World Investors grew its holdings in JPMorgan Chase & Co. by 0.4% during the first quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock worth $6,894,729,000 after acquiring an additional 150,812 shares during the period. Dimensional Fund Advisors LP grew its holdings in JPMorgan Chase & Co. by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 21,338,704 shares of the financial services provider’s stock worth $3,629,757,000 after acquiring an additional 695,502 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in JPMorgan Chase & Co. by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,170,399 shares of the financial services provider’s stock worth $3,389,329,000 after acquiring an additional 154,426 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM traded up $3.57 during midday trading on Friday, hitting $212.24. The stock had a trading volume of 8,027,787 shares, compared to its average volume of 9,013,996. The company has a market capitalization of $609.48 billion, a PE ratio of 11.84, a P/E/G ratio of 2.45 and a beta of 1.12. The stock has a 50 day simple moving average of $202.39 and a 200-day simple moving average of $191.60. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $217.56. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.19 by $1.93. The business had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter last year, the business posted $4.37 earnings per share. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 16.67 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be given a dividend of $1.15 per share. The ex-dividend date is Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a yield of 2.17%. JPMorgan Chase & Co.’s payout ratio is 25.66%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Piper Sandler raised their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. UBS Group raised their target price on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Jefferies Financial Group raised their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Wolfe Research lowered JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Finally, Barclays raised their price objective on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average target price of $202.89.

Insider Buying and Selling

In related news, CEO Mary E. Erdoes sold 15,895 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $193.66, for a total transaction of $3,078,225.70. Following the transaction, the chief executive officer now owns 585,898 shares in the company, valued at $113,465,006.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Mary E. Erdoes sold 15,895 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $193.66, for a total transaction of $3,078,225.70. Following the transaction, the chief executive officer now owns 585,898 shares in the company, valued at $113,465,006.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Stacey Friedman sold 4,415 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.65, for a total value of $885,869.75. Following the transaction, the general counsel now owns 42,124 shares in the company, valued at approximately $8,452,180.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,343 shares of company stock worth $14,137,789. 0.79% of the stock is owned by corporate insiders.

About JPMorgan Chase & Co.

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; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.