JPMorgan Chase & Co. (NYSE:JPM) Shares Acquired by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its holdings in JPMorgan Chase & Co. by 2.2% during the 1st quarter, owning 5,068,154 shares valued at approximately $1.24 billion.
• JPMorgan Chase reported $4.96 EPS for the quarter, exceeding analysts' expectations, while revenue was $44.91 billion, down 10.5% year-over-year.
• The company declared a quarterly dividend of $1.40, which equates to a 1.9% yield, with a payout ratio of 28.73%.

TD Asset Management Inc lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,068,154 shares of the financial services provider's stock after purchasing an additional 108,675 shares during the quarter. JPMorgan Chase & Co. comprises about 1.1% of TD Asset Management Inc's holdings, making the stock its 16th biggest holding. TD Asset Management Inc owned about 0.18% of JPMorgan Chase & Co. worth $1,243,218,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Hurlow Wealth Management Group Inc. increased its position in JPMorgan Chase & Co. by 0.7% in the fourth quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider's stock worth $1,328,000 after buying an additional 40 shares during the last quarter. Wimmer Associates 1 LLC increased its position in JPMorgan Chase & Co. by 1.0% in the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock worth $986,000 after buying an additional 40 shares during the last quarter. Twin Lakes Capital Management LLC increased its position in JPMorgan Chase & Co. by 0.3% in the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock worth $3,340,000 after buying an additional 40 shares during the last quarter. First Command Advisory Services Inc. increased its position in JPMorgan Chase & Co. by 0.4% in the first quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock worth $2,283,000 after buying an additional 40 shares during the last quarter. Finally, Black Swift Group LLC increased its position in JPMorgan Chase & Co. by 0.7% in the first quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock worth $1,413,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on JPM shares. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, July 7th. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the stock a "buy" rating in a research note on Monday, July 7th. KGI Securities initiated coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They set a "hold" rating for the company. Finally, Piper Sandler reissued 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 given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

Insider Buying and Selling

In other news, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the completion of the sale, the chief operating officer owned 68,583 shares of the company's stock, valued at approximately $17,197,873.08. The trade was a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the sale, the chief financial officer directly owned 18,017 shares of the company's stock, valued at $4,518,123.09. This represents a 68.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,200 shares of company stock worth $18,060,015. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Down 2.4%

JPM opened at $289.21 on Friday. The firm has a market cap of $803.74 billion, a P/E ratio of 14.84, a P/E/G ratio of 2.00 and a beta of 1.11. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $301.29. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. The stock has a 50-day moving average of $281.04 and a 200 day moving average of $261.57.

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 the consensus estimate of $4.48 by $0.48. The company 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%. The firm's revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the business posted $6.12 earnings per share. As a group, research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

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

JPMorgan Chase & Co. 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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