Great West Life Assurance Co. Can Makes New Investment in JPMorgan Chase & Co. (NYSE:JPM)

Great West Life Assurance Co. Can bought a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) during the third quarter, Holdings Channel reports. The fund bought 2,299,513 shares of the financial services provider’s stock, valued at approximately $240,480,000. JPMorgan Chase & Co. comprises about 0.7% of Great West Life Assurance Co. Can’s investment portfolio, making the stock its 21st biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Sentry Investment Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 3.3% in the 3rd quarter. Sentry Investment Management LLC now owns 20,783 shares of the financial services provider’s stock valued at $2,172,000 after purchasing an additional 670 shares during the last quarter. James J. Burns & Company LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at $364,000. Howard Wealth Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at $315,000. Park Avenue Securities LLC boosted its stake in shares of JPMorgan Chase & Co. by 9.0% in the 3rd quarter. Park Avenue Securities LLC now owns 103,151 shares of the financial services provider’s stock valued at $10,779,000 after purchasing an additional 8,547 shares during the last quarter. Finally, Ropes Wealth Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 5.1% in the 3rd quarter. Ropes Wealth Advisors LLC now owns 61,694 shares of the financial services provider’s stock valued at $6,447,000 after purchasing an additional 2,976 shares during the last quarter. 67.89% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $135.08 on Friday. The firm has a 50-day moving average of $134.60 and a 200-day moving average of $122.72. The company has a market cap of $396.22 billion, a P/E ratio of 11.18, a P/E/G ratio of 2.23 and a beta of 1.13. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.84 and a quick ratio of 0.84. JPMorgan Chase & Co. has a one year low of $101.28 and a one year high of $159.03.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last announced its earnings results on Friday, January 13th. The financial services provider reported $3.57 EPS for the quarter, beating the consensus estimate of $3.11 by $0.46. The company had revenue of $34.55 billion during the quarter, compared to the consensus estimate of $34.23 billion. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.33 earnings per share. Equities research analysts forecast that JPMorgan Chase & Co. will post 12.81 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, January 6th will be given a dividend of $1.00 per share. The ex-dividend date is Thursday, January 5th. This represents a $4.00 annualized dividend and a yield of 2.96%. JPMorgan Chase & Co.’s payout ratio is currently 33.11%.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Mellody L. Hobson purchased 375 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, January 19th. The stock was bought at an average price of $134.53 per share, for a total transaction of $50,448.75. Following the completion of the transaction, the director now owns 22,040 shares in the company, valued at $2,965,041.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other JPMorgan Chase & Co. news, Director Mellody L. Hobson bought 375 shares of the business’s stock in a transaction on Thursday, January 19th. The stock was purchased at an average price of $134.53 per share, for a total transaction of $50,448.75. Following the completion of the transaction, the director now directly owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Douglas B. Petno sold 5,139 shares of the stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $125.02, for a total transaction of $642,477.78. Following the transaction, the chief executive officer now owns 248,011 shares of the company’s stock, valued at approximately $31,006,335.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,336 shares of company stock worth $6,372,156. 0.79% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

JPM has been the topic of several research analyst reports. Citigroup increased their target price on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a research note on Tuesday, January 17th. UBS Group set a $156.00 target price on shares of JPMorgan Chase & Co. in a research note on Friday, January 13th. Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a research note on Tuesday, January 17th. Royal Bank of Canada set a $130.00 target price on shares of JPMorgan Chase & Co. in a research note on Friday, January 13th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and cut their target price for the stock from $155.00 to $145.00 in a research note on Friday, January 6th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus price target of $147.89.

About JPMorgan Chase & Co.

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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 s deposit, investment and lending products, payments, 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, auto loan, and leasing services.

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

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