Itau Unibanco Holding S.A. Acquires 18,916 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Itau Unibanco Holding S.A. has significantly increased its stake in JPMorgan Chase & Co., acquiring an additional 18,916 shares, which represents a 1,279.8% increase in the first quarter, bringing its total holdings to 20,394 shares valued at $5,003,000.
• Other institutional investors also increased their stakes, with GAMMA Investing LLC raising its holdings by over 25,861.9%, now owning more than 23.5 million shares valued at approximately $5.78 billion.
• JPMorgan reported earnings of $4.96 per share for the latest quarter, exceeding expectations, while its revenue was $44.91 billion, reflecting a 10.5% decline compared to the previous year.

Itau Unibanco Holding S.A. increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1,279.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 20,394 shares of the financial services provider's stock after acquiring an additional 18,916 shares during the period. Itau Unibanco Holding S.A.'s holdings in JPMorgan Chase & Co. were worth $5,003,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings 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 valued at $5,778,289,000 after acquiring an additional 23,465,278 shares during the period. Nuveen LLC purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at about $3,972,807,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in JPMorgan Chase & Co. by 31.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock valued at $2,561,256,000 after purchasing an additional 2,551,899 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in JPMorgan Chase & Co. by 16.3% during the 4th 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 valued at $4,207,028,000 after purchasing an additional 2,465,572 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $454,042,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $299.52 on Thursday. The business's 50 day moving average is $290.51 and its two-hundred day moving average is $264.94. The stock has a market capitalization of $823.59 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.98 and a beta of 1.11. The company has a current ratio of 0.88, a quick 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.

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

Analyst Ratings Changes

A number of research firms recently weighed in on JPM. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Bank of America increased their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Phillip Securities cut JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. One investment 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 given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $288.68.

Insider Activity at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by 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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