Mitsubishi UFJ Asset Management Co. Ltd. Purchases 237,210 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Mitsubishi UFJ Asset Management increased its JPMorgan Chase stake by 4.2% in the fourth quarter, adding 237,210 shares to bring its total holdings to 5,867,584 shares worth about $1.91 billion.
• Institutional ownership remains high, with 71.55% of JPM shares held by institutions. Several large funds also boosted their positions in recent quarters.
• JPMorgan’s fundamentals and outlook remain solid: the bank beat quarterly earnings and revenue estimates, and analysts currently rate the stock a “Moderate Buy” with an average price target of $338.12.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,867,584 shares of the financial services provider's stock after acquiring an additional 237,210 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.3% of Mitsubishi UFJ Asset Management Co. Ltd.'s holdings, making the stock its 11th largest holding. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.22% of JPMorgan Chase & Co. worth $1,909,781,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JPM. Legal & General Group Plc raised its holdings in JPMorgan Chase & Co. by 3.3% during the 3rd quarter. Legal & General Group Plc now owns 18,908,978 shares of the financial services provider's stock valued at $5,964,459,000 after buying an additional 607,025 shares during the period. Fisher Asset Management LLC raised its holdings in JPMorgan Chase & Co. by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 15,722,443 shares of the financial services provider's stock valued at $4,959,330,000 after buying an additional 347,033 shares during the period. Invesco Ltd. raised its holdings in JPMorgan Chase & Co. by 2.3% during the 3rd quarter. Invesco Ltd. now owns 14,655,153 shares of the financial services provider's stock valued at $4,622,675,000 after buying an additional 322,735 shares during the period. Boston Partners raised its holdings in JPMorgan Chase & Co. by 2.3% during the 3rd quarter. Boston Partners now owns 7,492,763 shares of the financial services provider's stock valued at $2,360,045,000 after buying an additional 168,184 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in JPMorgan Chase & Co. by 0.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,809,417 shares of the financial services provider's stock valued at $2,147,894,000 after buying an additional 31,421 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,404 shares of the firm's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $306.40, for a total transaction of $1,042,985.60. Following the completion of the transaction, the general counsel directly owned 61,949 shares of the company's stock, valued at approximately $18,981,173.60. This trade represents a 5.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jeremy Barnum sold 3,022 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total transaction of $935,037.02. Following the transaction, the chief financial officer directly owned 32,438 shares of the company's stock, valued at $10,036,641.58. This represents a 8.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 79,849 shares of company stock valued at $24,522,956. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on JPM. Argus increased their price target on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, April 15th. Dbs Bank upgraded JPMorgan Chase & Co. to a "hold" rating in a report on Tuesday. Daiwa Securities Group decreased their price target on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. Jefferies Financial Group restated a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Finally, Piper Sandler increased their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 15th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $338.12.

Trending Headlines about JPMorgan Chase & Co.

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorganChase declared dividends on its Series II, OO and PP preferred stock, signaling continued capital return and financial stability. JPMorganChase Declares Preferred Stock Dividends
• Positive Sentiment: Reuters reported that JPMorgan’s long-running push into early-stage tech banking is paying off, with the firm now leading global technology investment banking and winning business from startup clients early in their growth cycle. JPMorgan's bet on early-stage companies pays off in leading global tech investment banking
• Positive Sentiment: Chase continued expanding its branch network, opening 18 new branches in May as part of a multibillion-dollar expansion, which supports deposit gathering and retail growth over time. Chase Opens 18 Branches in May Amid Multibillion-Dollar Expansion

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $297.93 on Friday. The firm has a market cap of $798.31 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.46 and a beta of 1.03. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 12 month low of $256.00 and a 12 month high of $337.25. The stock's fifty day moving average price is $299.67 and its 200-day moving average price is $307.32.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating analysts' consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The company had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. During the same quarter last year, the company earned $5.07 earnings per share. The firm's revenue for the quarter was up 10.0% compared to the same quarter last year. On average, equities research analysts expect that JPMorgan Chase & Co. will post 22.42 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 6th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Monday, April 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.74%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co NYSE: JPM is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm's principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.