Drexel Morgan & Co. Has $21.30 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Drexel Morgan & Co. grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1,938.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 236,606 shares of the financial services provider’s stock after purchasing an additional 225,000 shares during the period. JPMorgan Chase & Co. makes up approximately 8.3% of Drexel Morgan & Co.’s holdings, making the stock its 3rd largest position. Drexel Morgan & Co.’s holdings in JPMorgan Chase & Co. were worth $21,302,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of JPM. Norges Bank bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at approximately $3,908,541,000. M&G Investment Management Ltd. purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $310,039,000. Capital Research Global Investors increased its holdings in shares of JPMorgan Chase & Co. by 7.4% during the fourth quarter. Capital Research Global Investors now owns 27,661,131 shares of the financial services provider’s stock valued at $3,855,962,000 after acquiring an additional 1,895,932 shares in the last quarter. Capital World Investors raised its position in shares of JPMorgan Chase & Co. by 1.9% in the 4th quarter. Capital World Investors now owns 82,845,612 shares of the financial services provider’s stock worth $11,548,674,000 after purchasing an additional 1,531,579 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in JPMorgan Chase & Co. by 88.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,281,438 shares of the financial services provider’s stock worth $318,031,000 after purchasing an additional 1,072,935 shares in the last quarter. 73.01% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Stephen B. Burke acquired 75,000 shares of the stock in a transaction dated Thursday, April 16th. The shares were purchased at an average cost of $87.99 per share, with a total value of $6,599,250.00. Following the transaction, the director now directly owns 150,043 shares in the company, valued at $13,202,283.57. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ashley Bacon sold 13,027 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $91.12, for a total value of $1,187,020.24. Following the transaction, the insider now owns 137,243 shares of the company’s stock, valued at $12,505,582.16. The disclosure for this sale can be found here. Company insiders own 0.78% of the company’s stock.

Several research analysts have issued reports on the stock. Citigroup decreased their target price on shares of JPMorgan Chase & Co. from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Friday, March 27th. BMO Capital Markets decreased their price objective on shares of JPMorgan Chase & Co. from $117.00 to $101.00 and set a “market perform” rating for the company in a report on Wednesday, April 15th. Keefe, Bruyette & Woods raised JPMorgan Chase & Co. from a “market perform” rating to an “outperform” rating in a research report on Wednesday, April 1st. Morgan Stanley reduced their target price on JPMorgan Chase & Co. from $109.00 to $101.00 and set an “overweight” rating for the company in a report on Wednesday, April 15th. Finally, Piper Sandler decreased their price target on JPMorgan Chase & Co. from $149.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 3rd. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $109.75.

JPMorgan Chase & Co. stock opened at $89.47 on Friday. JPMorgan Chase & Co. has a 52-week low of $76.91 and a 52-week high of $141.10. The company has a market cap of $274.75 billion, a P/E ratio of 10.11, a P/E/G ratio of 3.51 and a beta of 1.20. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.29. The business has a 50-day simple moving average of $91.61 and a two-hundred day simple moving average of $118.08.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $0.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by ($1.92). The business had revenue of $28.25 billion during the quarter, compared to the consensus estimate of $29.45 billion. JPMorgan Chase & Co. had a return on equity of 12.52% and a net margin of 21.61%. JPMorgan Chase & Co.’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the company earned $2.65 EPS. Research analysts anticipate that JPMorgan Chase & Co. will post 5.13 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a $0.90 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $3.60 annualized dividend and a yield of 4.02%. JPMorgan Chase & Co.’s payout ratio is presently 34.35%.

About JPMorgan Chase & Co.

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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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