CIBC Asset Management Inc Cuts Holdings in JPMorgan Chase & Co. (JPM)

CIBC Asset Management Inc cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 460,239 shares of the financial services provider’s stock after selling 16,296 shares during the quarter. CIBC Asset Management Inc’s holdings in JPMorgan Chase & Co. were worth $51,933,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of JPM. Charles Schwab Investment Advisory Inc. bought a new position in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $278,896,000. Royal London Asset Management Ltd. bought a new position in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $161,331,000. Vantage Investment Partners LLC grew its holdings in shares of JPMorgan Chase & Co. by 412.9% during the second quarter. Vantage Investment Partners LLC now owns 1,316,543 shares of the financial services provider’s stock valued at $137,183,000 after purchasing an additional 1,059,869 shares during the last quarter. Alps Advisors Inc. grew its holdings in shares of JPMorgan Chase & Co. by 2,583.2% during the second quarter. Alps Advisors Inc. now owns 1,073,992 shares of the financial services provider’s stock valued at $111,910,000 after purchasing an additional 1,033,965 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA bought a new position in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $961,000. 71.27% of the stock is owned by institutional investors.

Shares of JPM stock opened at $103.09 on Thursday. JPMorgan Chase & Co. has a 12-month low of $91.11 and a 12-month high of $119.33. The company has a market capitalization of $353.63 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.53 and a beta of 1.11. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.00 and a quick ratio of 1.01.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, January 15th. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.22). JPMorgan Chase & Co. had a return on equity of 14.07% and a net margin of 24.71%. The business had revenue of $26.10 billion during the quarter, compared to the consensus estimate of $26.69 billion. During the same period last year, the company earned $1.76 earnings per share. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts forecast that JPMorgan Chase & Co. will post 9.94 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, January 31st. Shareholders of record on Friday, January 4th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Thursday, January 3rd. JPMorgan Chase & Co.’s payout ratio is currently 35.56%.

Several equities analysts have recently commented on JPM shares. Wells Fargo & Co set a $130.00 target price on JPMorgan Chase & Co. and gave the company a “buy” rating in a report on Thursday, November 15th. Zacks Investment Research raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a report on Tuesday, December 11th. Finally, ValuEngine raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Twelve equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $122.94.

In other news, Director James S. Crown purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, February 5th. The stock was purchased at an average cost of $103.79 per share, with a total value of $518,950.00. Following the purchase, the director now owns 311,447 shares in the company, valued at approximately $32,325,084.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ashley Bacon sold 5,831 shares of the stock in a transaction on Wednesday, January 16th. The shares were sold at an average price of $102.78, for a total value of $599,310.18. Following the transaction, the insider now directly owns 98,838 shares of the company’s stock, valued at $10,158,569.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,191 shares of company stock valued at $4,102,110. 0.73% of the stock is currently owned by corporate insiders.

TRADEMARK VIOLATION NOTICE: “CIBC Asset Management Inc Cuts Holdings in JPMorgan Chase & Co. (JPM)” was posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this piece on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.chaffeybreeze.com/2019/02/14/cibc-asset-management-inc-cuts-holdings-in-jpmorgan-chase-co-jpm.html.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

Read More: Understanding Market Liquidity

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM).

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

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply