Cardinal Capital Management increases its stake in JPMorgan Chase & Co. (NYSE: JPM)


Cardinal Capital Management increased its position in JPMorgan Chase & Co. (NYSE:JPM) shares by 2.8% in the first quarter, according to its latest 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,564 shares of the financial services provider after purchasing an additional 1,428 shares during the period. JPMorgan Chase & Co. represents 1.4% of Cardinal Capital Management’s portfolio, making the stock its 23rd largest holding. Cardinal Capital Management’s holdings in JPMorgan Chase & Co. were worth $7,029,000 at the end of the last quarter.

Several other institutional investors and hedge funds have also recently increased or reduced their stake in the company. Palisade Asset Management LLC increased its stake in JPMorgan Chase & Co. shares by 5.2% in the 1st quarter. Palisade Asset Management LLC now owns 75,660 shares of the financial services provider worth $10,314,000 after acquiring 3,753 additional shares in the last quarter. Capital Insight Partners LLC increased its stake in JPMorgan Chase & Co. shares by 1.0% in the 1st quarter. Capital Insight Partners LLC now owns 31,357 shares of the financial services provider worth $4,275,000 after acquiring 311 additional shares in the last quarter. Joel Isaacson & Co. LLC increased its stake in JPMorgan Chase & Co. shares by 0.5% during the 1st quarter. Joel Isaacson & Co. LLC now owns 38,865 shares of the financial services provider worth $4,993,000 after acquiring 194 additional shares in the last quarter. StrategIQ Financial Group LLC increased its stake in JPMorgan Chase & Co. shares by 1.3% during the 1st quarter. StrategIQ Financial Group LLC now owns 25,685 shares of the financial services provider worth $3,501,000 after acquiring 331 additional shares in the last quarter. Finally, BCK Partners Inc. acquired a new equity stake in JPMorgan Chase & Co. during Q1 for a value of $2,455,000. Hedge funds and other institutional investors hold 70.35% of the company’s shares.

In other news, insider Ashley Bacon sold 21,012 shares of the company in a trade dated Tuesday, April 19. The shares were sold at an average price of $130.04, for a total value of $2,732,400.48. Following the completion of the sale, the insider now owns 178,588 shares of the company, valued at approximately $23,223,583.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, CEO Jennifer Piepszak sold 4,668 shares of JPMorgan Chase & Co. in a trade dated Thursday, April 14. The shares were sold at an average price of $126.19, for a total transaction of $589,054.92. Following the sale, the CEO now owns 11,135 shares of the company, valued at approximately $1,405,125.65. The disclosure of this sale can be found here. 0.79% of the shares are currently held by insiders of the company.

JPM opened at $114.72 on Friday. The stock has a market capitalization of $336.94 billion, a price/earnings ratio of 8.51, a PEG ratio of 2.01 and a beta of 1.15. The company has a fifty-day moving average of $120.63 and a 200-day moving average of $136.39. JPMorgan Chase & Co. has a fifty-two week low of $109.30 and a fifty-two week high of $172.96. The company has a debt ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.82.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released quarterly earnings data on Wednesday, April 13. The financial services provider reported EPS of $2.63 for the quarter, missing analyst consensus estimates of $2.73 per ($0.10). JPMorgan Chase & Co. achieved a return on equity of 16.58% and a net margin of 33.61%. The company posted revenue of $30.72 billion in the quarter, compared to $30.53 billion expected by analysts. In the same period a year earlier, the company had earned earnings per share of $4.50. The company’s quarterly revenue was down 4.8% year over year. On average, equity research analysts expect JPMorgan Chase & Co. to post earnings per share of 11.23 for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, July 31. Shareholders of record on Wednesday, July 6 will receive a dividend of $1.00. The ex-dividend date is Tuesday, July 5. This represents a dividend of $4.00 on an annualized basis and a dividend yield of 3.49%. JPMorgan Chase & Co.’s payout ratio is currently 29.67%.

Several equity analysts have recently commented on the stock. Piper Sandler lowered her price target on JPMorgan Chase & Co. shares from $170.00 to $158.00 and set an “overweight” rating for the company in a Friday, July 1 research note. Keefe, Bruyette & Woods reiterated a ‘market performance’ rating and set a price target of $148.00 (from $142.00 previously) on JPMorgan Chase & Co. shares in a Tuesday research report May 24. Barclays set a price target of $200.00 on shares of JPMorgan Chase & Co. in a Thursday, June 30 report. Berenberg Bank set a target price of $120.00 on JPMorgan Chase & Co. shares in a Tuesday, April 19 research note. Finally, Morgan Stanley lowered its price target on JPMorgan Chase & Co. shares from $152.00 to $149.00 and set an “underweight” rating on the stock in a research report on Friday. June 24. One analyst rated the stock with a sell rating, eight issued a hold rating and eight issued a buy rating for the company’s stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus price target of $159.33.

Profile of JPMorgan Chase & Co. (Get a rating)

JPMorgan Chase & Co operates as a worldwide financial services company. 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 consumer services; lending, deposit, cash management and payment solutions for small businesses; mortgage origination and management activities; residential mortgages and home equity loans; and credit card, car loan and leasing services.

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Institutional ownership by quarter for JPMorgan Chase & Co. (NYSE: JPM)



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