Bowen Hanes & Co. Inc. Grows Stake in JPMorgan Chase & Co. (NYSE:JPM)

Bowen Hanes & Co. Inc. lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 264,210 shares of the financial services provider’s stock after acquiring an additional 3,553 shares during the quarter. JPMorgan Chase & Co. makes up 1.7% of Bowen Hanes & Co. Inc.’s portfolio, making the stock its 25th biggest position. Bowen Hanes & Co. Inc.’s holdings in JPMorgan Chase & Co. were worth $63,334,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JPM. Achmea Investment Management B.V. boosted its holdings in JPMorgan Chase & Co. by 8.6% in the fourth quarter. Achmea Investment Management B.V. now owns 305,687 shares of the financial services provider’s stock valued at $73,276,000 after acquiring an additional 24,207 shares in the last quarter. Mascoma Wealth Management LLC lifted its position in shares of JPMorgan Chase & Co. by 7.4% in the 4th quarter. Mascoma Wealth Management LLC now owns 2,280 shares of the financial services provider’s stock worth $547,000 after purchasing an additional 157 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of JPMorgan Chase & Co. by 56.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 367,825 shares of the financial services provider’s stock worth $88,171,000 after purchasing an additional 133,139 shares during the period. Rakuten Securities Inc. boosted its stake in shares of JPMorgan Chase & Co. by 126.6% during the 4th quarter. Rakuten Securities Inc. now owns 1,645 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 919 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its position in shares of JPMorgan Chase & Co. by 2.3% during the fourth quarter. Avantax Advisory Services Inc. now owns 320,959 shares of the financial services provider’s stock valued at $76,937,000 after buying an additional 7,229 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $241.49 on Friday. The company has a market cap of $675.24 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 2.83 and a beta of 1.10. The business’s fifty day simple moving average is $257.86 and its two-hundred day simple moving average is $239.22. JPMorgan Chase & Co. has a 12 month low of $179.20 and a 12 month high of $280.25. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. During the same period last year, the firm posted $3.04 earnings per share. JPMorgan Chase & Co.’s revenue was up 10.9% compared to the same quarter last year. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 28.37%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on JPM. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a report on Friday, January 3rd. Keefe, Bruyette & Woods raised their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Truist Financial upped their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Piper Sandler raised their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $252.89.

Insider Transactions at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 4,273 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the completion of the sale, the chief operating officer now owns 54,469 shares of the company’s stock, valued at $14,698,459.65. The trade was a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the sale, the insider now owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. This trade represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,326 shares of company stock worth $12,448,445 over the last three months. 0.79% of the stock is currently 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. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.