Bowen Hanes & Co. Inc. Purchases 13,224 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Bowen Hanes & Co. Inc. increased its stake in JPMorgan Chase & Co. by 5.0%, acquiring an additional 13,224 shares, bringing its total to 277,434 shares valued at approximately $68 million.
• Institutional investors collectively own 71.55% of JPMorgan Chase & Co., with recent stakes purchased by firms including MJT & Associates and University of Illinois Foundation.
• JPMorgan Chase reported a quarterly EPS of $4.96, surpassing analysts' expectations, but its revenue of $44.91 billion represented a 10.5% decrease from the same quarter last year.

Bowen Hanes & Co. Inc. boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 277,434 shares of the financial services provider's stock after acquiring an additional 13,224 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.9% of Bowen Hanes & Co. Inc.'s investment portfolio, making the stock its 19th biggest holding. Bowen Hanes & Co. Inc.'s holdings in JPMorgan Chase & Co. were worth $68,055,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JPM. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. during the first quarter worth $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. during the first quarter worth $30,000. Curat Global LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter valued at about $33,000. Measured Risk Portfolios Inc. bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $44,000. Finally, Minot DeBlois Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $54,000. 71.55% of the stock is owned by institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the sale, the chief operating officer directly owned 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $292.1840 on Thursday. JPMorgan Chase & Co. has a 52 week low of $200.61 and a 52 week high of $301.29. The firm has a market cap of $803.43 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 1.93 and a beta of 1.11. The firm's 50-day simple moving average is $287.83 and its 200 day simple moving average is $264.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same period last year, the firm earned $6.12 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Analyst Ratings Changes

JPM has been the topic of several research analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Bank of America increased their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Truist Financial increased their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Finally, Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Company Profile

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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