iA Global Asset Management Inc. Has $74.92 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• iA Global Asset Management Inc. increased its stake in JPMorgan Chase & Co. by 22.5% during the first quarter, owning 305,422 shares worth approximately $74.92 million as per their recent SEC filing.
• Insider selling occurred as General Counsel Stacey Friedman and COO Jennifer Piepszak sold shares, with Friedman reducing her position by 15.32% and Piepszak by 8.94%.
• JPMorgan Chase reported $4.96 EPS for the last quarter, exceeding analyst expectations, but showed a 10.5% year-over-year decline in revenue.

iA Global Asset Management Inc. increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 22.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,422 shares of the financial services provider's stock after buying an additional 56,107 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.3% of iA Global Asset Management Inc.'s investment portfolio, making the stock its 19th biggest position. iA Global Asset Management Inc.'s holdings in JPMorgan Chase & Co. were worth $74,920,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. grew its position in JPMorgan Chase & Co. by 6.4% during the first quarter. McClarren Financial Advisors Inc. now owns 1,154 shares of the financial services provider's stock worth $266,000 after buying an additional 69 shares in the last quarter. Ranch Capital Advisors Inc. increased its stake in shares of JPMorgan Chase & Co. by 5.5% in the 1st quarter. Ranch Capital Advisors Inc. now owns 15,035 shares of the financial services provider's stock valued at $3,688,000 after purchasing an additional 779 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in shares of JPMorgan Chase & Co. by 13.0% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 8,578 shares of the financial services provider's stock valued at $2,104,000 after purchasing an additional 987 shares during the last quarter. Syntegra Private Wealth Group LLC increased its stake in shares of JPMorgan Chase & Co. by 1.7% in the 1st quarter. Syntegra Private Wealth Group LLC now owns 7,196 shares of the financial services provider's stock valued at $1,765,000 after purchasing an additional 122 shares during the last quarter. Finally, Farrow Financial Inc. increased its stake in shares of JPMorgan Chase & Co. by 3.9% in the 1st quarter. Farrow Financial Inc. now owns 10,685 shares of the financial services provider's stock valued at $2,621,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Activity

In other news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel directly owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer directly owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,557 shares of company stock valued at $4,113,796. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Up 0.6%

Shares of NYSE:JPM opened at $288.55 on Friday. The firm has a market cap of $793.44 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.93 and a beta of 1.11. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 12-month low of $200.61 and a 12-month high of $301.29. The business has a fifty day simple moving average of $283.74 and a 200 day simple moving average of $262.70.

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

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were given a $1.40 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.73%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on JPM shares. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Morgan Stanley lifted their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Truist Financial lifted their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. Finally, Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus 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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