Shell Asset Management Co. Acquires 9,138 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Shell Asset Management Co. raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 14.7% in the first quarter, HoldingsChannel reports. The firm owned 71,313 shares of the financial services provider’s stock after buying an additional 9,138 shares during the quarter. JPMorgan Chase & Co. makes up 0.6% of Shell Asset Management Co.’s investment portfolio, making the stock its 21st biggest position. Shell Asset Management Co.’s holdings in JPMorgan Chase & Co. were worth $14,284,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of JPM. Norges Bank bought a new position in JPMorgan Chase & Co. in the fourth quarter worth about $6,016,878,000. International Assets Investment Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $1,017,893,000. Capital International Investors boosted its position in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after purchasing an additional 2,128,478 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in JPMorgan Chase & Co. by 3,836.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock worth $258,377,000 after purchasing an additional 1,480,379 shares during the period. Finally, Cerity Partners LLC boosted its holdings in shares of JPMorgan Chase & Co. by 155.2% during the 4th quarter. Cerity Partners LLC now owns 2,246,582 shares of the financial services provider’s stock valued at $382,144,000 after buying an additional 1,366,360 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM traded up $4.25 during trading hours on Friday, reaching $212.92. The company had a trading volume of 2,163,334 shares, compared to its average volume of 9,198,330. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $217.56. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.92. The firm has a market cap of $611.44 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 2.45 and a beta of 1.12. The business’s 50 day moving average price is $202.24 and its 200-day moving average price is $191.32.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period in the prior year, the business earned $4.37 EPS. Research analysts forecast that JPMorgan Chase & Co. will post 16.67 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.66%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Elena A. Korablina sold 21,829 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the transaction, the insider now owns 6,484 shares of the company’s stock, valued at $1,237,860.44. The transaction was disclosed in a filing with the SEC, which is available at this link. In other JPMorgan Chase & Co. news, insider Elena A. Korablina sold 21,829 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the completion of the transaction, the insider now directly owns 6,484 shares in the company, valued at approximately $1,237,860.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Stacey Friedman sold 4,415 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.65, for a total value of $885,869.75. Following the completion of the transaction, the general counsel now directly owns 42,124 shares of the company’s stock, valued at $8,452,180.60. The disclosure for this sale can be found here. Insiders sold a total of 72,343 shares of company stock valued at $14,137,789 in the last three months. 0.79% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on JPM. UBS Group upped their price objective on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Jefferies Financial Group increased their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Piper Sandler lifted their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, Oppenheimer raised their price target on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $202.89.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.