Connor Clark & Lunn Investment Management Ltd. Grows Stake in JPMorgan Chase & Co. $JPM

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 16.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 433,089 shares of the financial services provider’s stock after acquiring an additional 61,706 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in JPMorgan Chase & Co. were worth $125,557,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.4% in the 2nd quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider’s stock valued at $2,290,000 after buying an additional 35 shares in the last quarter. Cottonwood Capital Advisors LLC raised its stake in JPMorgan Chase & Co. by 0.9% during the 2nd quarter. Cottonwood Capital Advisors LLC now owns 3,837 shares of the financial services provider’s stock worth $1,112,000 after acquiring an additional 35 shares in the last quarter. Coign Capital Advisors LLC lifted its position in JPMorgan Chase & Co. by 1.2% in the second quarter. Coign Capital Advisors LLC now owns 2,854 shares of the financial services provider’s stock valued at $827,000 after acquiring an additional 35 shares during the last quarter. Rialto Wealth Management LLC lifted its position in JPMorgan Chase & Co. by 3.9% in the second quarter. Rialto Wealth Management LLC now owns 929 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 35 shares during the last quarter. Finally, LCM Capital Management Inc boosted its stake in JPMorgan Chase & Co. by 0.9% in the second quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock valued at $1,115,000 after acquiring an additional 36 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $299.32 on Wednesday. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $322.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The business has a 50 day simple moving average of $307.69 and a 200-day simple moving average of $290.74. The stock has a market capitalization of $814.83 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were issued a $1.50 dividend. The ex-dividend date of this dividend 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 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is presently 29.72%.

Analyst Ratings Changes

Several analysts have recently weighed in on JPM shares. Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, October 21st. Evercore ISI lifted their price target on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Truist Financial increased their price objective on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a report on Tuesday, September 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a report on Tuesday, September 30th. Finally, TD Cowen upped their price target on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $326.38.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robin Leopold sold 966 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the transaction, the insider directly owned 58,479 shares of the company’s stock, valued at $18,240,769.68. This represents a 1.63% 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 insiders.

JPMorgan Chase & Co. Profile

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.