Nuveen LLC Makes New $3.97 Billion Investment in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Nuveen LLC has made a significant investment in JPMorgan Chase & Co., acquiring 16,195,706 shares valued at approximately $3.97 billion, making it the firm’s 10th largest position.
• Analyst ratings for JPMorgan Chase are mixed, with thirteen analysts giving a "buy" rating while three suggest selling, resulting in an average rating of "Moderate Buy" with a target price of $288.68.
• JPMorgan's latest earnings report exceeded expectations, posting $4.96 earnings per share against a forecast of $4.48, along with revenues of $44.91 billion compared to estimates of $43.76 billion.

Nuveen LLC acquired a new position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 16,195,706 shares of the financial services provider's stock, valued at approximately $3,972,807,000. JPMorgan Chase & Co. accounts for 1.2% of Nuveen LLC's holdings, making the stock its 10th biggest position. Nuveen LLC owned approximately 0.58% of JPMorgan Chase & Co. at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at approximately $28,000. University of Illinois Foundation bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth $30,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth $33,000. Measured Risk Portfolios Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $44,000. Finally, Minot DeBlois Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $54,000. Institutional investors own 71.55% of the company's stock.

Wall Street Analyst Weigh In

JPM has been the topic of several analyst reports. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Morgan Stanley raised their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. HSBC reaffirmed a "reduce" rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Finally, Truist Financial boosted their price objective on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $288.68.

JPMorgan Chase & Co. Stock Up 1.2%

JPMorgan Chase & Co. stock opened at $294.03 on Friday. The business has a fifty day moving average of $285.93 and a two-hundred day moving average of $263.45. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a market cap of $808.52 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.93 and a beta of 1.11. JPMorgan Chase & Co. has a twelve month low of $200.61 and a twelve month high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts' consensus estimates 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%. JPMorgan Chase & Co.'s revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.12 earnings per share. On average, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were issued a dividend of $1.40 per share. The ex-dividend date was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,821 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the sale, the general counsel owned 68,757 shares in the company, valued at $18,269,422.47. This represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $1,608,416.16. Following the sale, 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. In the last 90 days, insiders have sold 15,557 shares of company stock valued at $4,113,796. 0.47% of the stock is owned by company 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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