Cullen Investment Group LTD. Acquires 1,776 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Cullen Investment Group LTD. increased its stake in JPMorgan Chase & Co. by 1.7%, acquiring an additional 1,776 shares, bringing its total holdings to 103,470 shares valued at approximately $30 million.
• JPMorgan Chase reported a quarterly EPS of $4.96, which exceeded analyst estimates and indicated a year-over-year revenue decline of 10.5% with current revenue at $44.91 billion.
• Institutional investors own 71.55% of JPMorgan's stock, highlighting significant confidence in the stock as several hedge funds have increased their positions recently.

Cullen Investment Group LTD. lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,470 shares of the financial services provider's stock after purchasing an additional 1,776 shares during the period. JPMorgan Chase & Co. comprises 4.2% of Cullen Investment Group LTD.'s holdings, making the stock its 5th biggest holding. Cullen Investment Group LTD.'s holdings in JPMorgan Chase & Co. were worth $29,997,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in JPM. GAMMA Investing LLC grew its stake 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 worth $5,778,289,000 after purchasing an additional 23,465,278 shares during the last quarter. Nuveen LLC purchased a new position in shares of JPMorgan Chase & Co. in the first quarter worth approximately $3,972,807,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of JPMorgan Chase & Co. by 16.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock worth $4,207,028,000 after acquiring an additional 2,465,572 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $454,042,000. Finally, National Bank of Canada FI increased its position in shares of JPMorgan Chase & Co. by 44.4% in the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock worth $1,108,415,000 after acquiring an additional 1,388,992 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $306.88 on Friday. The company's 50 day moving average price is $293.94 and its 200 day moving average price is $267.32. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $307.55. The company has a market capitalization of $843.84 billion, a PE ratio of 15.75, a PEG ratio of 2.03 and a beta of 1.13. 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 announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm's revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $6.12 earnings per share. Research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on JPM. Keefe, Bruyette & Woods lifted their target price on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Truist Financial lifted their target price on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a research report on Friday, June 27th. HSBC reissued a "reduce" rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Finally, Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $291.67.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by corporate insiders.

About JPMorgan Chase & Co.

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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