Mitsubishi UFJ Asset Management Co. Ltd. Boosts Position in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in JPMorgan Chase & Co. by 10.0% during the first quarter, now holding over 5 million shares valued at approximately $1.25 billion.
• JPMorgan announced a quarterly dividend of $1.40 per share, translating to an annualized dividend of $5.60 with a yield of 1.9%.
• The company reported an earnings per share (EPS) of $4.96, surpassing analysts' expectations by $0.48, despite a 10.5% decrease in quarterly revenue compared to the previous year.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 10.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,099,724 shares of the financial services provider's stock after acquiring an additional 465,347 shares during the period. JPMorgan Chase & Co. accounts for 1.2% of Mitsubishi UFJ Asset Management Co. Ltd.'s portfolio, making the stock its 13th largest holding. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of JPMorgan Chase & Co. worth $1,250,962,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Northern Trust Corp raised its position in JPMorgan Chase & Co. by 15.4% in the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after purchasing an additional 4,515,147 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of JPMorgan Chase & Co. by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock valued at $6,083,723,000 after acquiring an additional 454,226 shares during the last quarter. GAMMA Investing LLC raised its position in shares of JPMorgan Chase & Co. by 25,861.9% during 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 last quarter. Capital Research Global Investors raised its position in shares of JPMorgan Chase & Co. by 9.1% during the 4th quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider's stock valued at $5,475,223,000 after acquiring an additional 1,914,049 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of JPMorgan Chase & Co. by 2.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock valued at $5,040,469,000 after acquiring an additional 548,853 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 6,608 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the completion of the transaction, the general counsel owned 36,520 shares in the company, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the chief operating officer owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,557 shares of company stock valued at $4,113,796 over the last three months. 0.47% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

JPM has been the subject of a number of recent analyst reports. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Evercore ISI set a $298.00 target price on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, July 7th. Truist Financial upped 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 note on Wednesday, July 9th. Keefe, Bruyette & Woods upped 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 note on Wednesday, July 16th. Finally, Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Trading Up 1.2%

NYSE:JPM traded up $3.50 during trading hours on Thursday, reaching $294.03. The company's stock had a trading volume of 4,452,366 shares, compared to its average volume of 9,937,850. The firm has a market capitalization of $808.52 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 1.95 and a beta of 1.11. The firm has a 50-day simple moving average of $285.29 and a 200-day simple moving average of $263.25. JPMorgan Chase & Co. has a 1 year low of $200.61 and a 1 year high of $301.29. 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 results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company's revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $6.12 EPS. Research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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