Alberta Investment Management Corp Lowers Holdings in JPMorgan Chase & Co. $JPM

Alberta Investment Management Corp reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 68.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,000 shares of the financial services provider’s stock after selling 61,420 shares during the quarter. Alberta Investment Management Corp’s holdings in JPMorgan Chase & Co. were worth $8,117,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC lifted its position in shares of JPMorgan Chase & Co. by 609,867.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock worth $21,133,630,000 after purchasing an additional 72,885,260 shares during the period. Nuveen LLC bought a new position in JPMorgan Chase & Co. in the first quarter worth approximately $3,972,807,000. Montrusco Bolton Investments Inc. purchased a new stake in JPMorgan Chase & Co. during the second quarter worth $485,802,000. International Assets Investment Management LLC bought a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at $458,104,000. Finally, National Bank of Canada FI increased its holdings in shares of JPMorgan Chase & Co. by 44.4% in the 1st quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider’s stock valued at $1,108,415,000 after acquiring an additional 1,388,992 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Down 0.0%

JPM stock opened at $297.93 on Tuesday. The company has a market capitalization of $811.04 billion, a P/E ratio of 14.76, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $322.25. The firm’s fifty day simple moving average is $307.20 and its 200-day simple moving average is $292.10. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same period in the previous year, the firm posted $4.37 earnings per share. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were paid a $1.50 dividend. The ex-dividend date was Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 29.72%.

Insider Activity

In related news, insider Robin Leopold sold 966 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the completion of the transaction, the insider directly owned 58,479 shares in the company, valued at approximately $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.47% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on JPM shares. The Goldman Sachs Group restated a “buy” rating and set a $366.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, October 14th. Loop Capital set a $310.00 price target on shares of JPMorgan Chase & Co. in a research report on Thursday, October 23rd. TD Cowen lifted their price objective on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Daiwa Capital Markets boosted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Finally, Weiss Ratings restated a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, November 19th. Fifteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $326.38.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.