JPMorgan Chase & Co. (NYSE:JPM) Shares Bought by Wakefield Asset Management LLLP

Key Points

• Wakefield Asset Management LLLP increased its holdings in JPMorgan Chase & Co. by 27.3% during the first quarter, acquiring an additional 4,596 shares and making JPMorgan its 5th largest position in its portfolio.
• JPMorgan Chase & Co. reported $4.96 earnings per share for its latest quarter, exceeding the consensus estimate of $4.48, though showing a 10.5% year-over-year revenue decline.
• The company announced a quarterly dividend of $1.40 per share, reflecting an annualized dividend yield of 1.89%, scheduled for payment to stockholders on July 31st.

Wakefield Asset Management LLLP increased its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 27.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,450 shares of the financial services provider's stock after buying an additional 4,596 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.6% of Wakefield Asset Management LLLP's investment portfolio, making the stock its 5th largest position. Wakefield Asset Management LLLP's holdings in JPMorgan Chase & Co. were worth $5,262,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $8,310,884,000. GAMMA Investing LLC raised its stake in 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 worth $5,778,289,000 after acquiring an additional 23,465,278 shares during the period. Northern Trust Corp raised its position in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after buying an additional 4,515,147 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of JPMorgan Chase & Co. by 31.4% during the fourth 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 buying an additional 2,551,899 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of JPMorgan Chase & Co. by 16.3% during the fourth 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 buying an additional 2,465,572 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Baird R W cut shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Truist Financial lifted their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Phillip Securities cut shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Finally, Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $288.68.

JPMorgan Chase & Co. Stock Down 2.4%

Shares of JPM stock traded down $7.03 during trading hours on Friday, reaching $289.21. 12,005,470 shares of the company's stock were exchanged, compared to its average volume of 10,131,769. The stock's 50 day moving average is $280.47 and its 200-day moving average is $261.28. The company has a market cap of $803.74 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 2.02 and a beta of 1.10. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The firm 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 business's quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $6.12 earnings per share. Analysts predict that JPMorgan Chase & Co. will post 18.1 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, July 31st. Shareholders of record on Thursday, July 3rd were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the transaction, the director owned 91,539 shares in the company, valued at $22,884,750. The trade was a 9.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock valued at $18,060,015 in the last three months. Company insiders own 0.47% of the company's stock.

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.