JPMorgan Chase & Co. $JPM Stake Raised by Alecta Tjanstepension Omsesidigt

Key Points

• Alecta Tjanstepension Omsesidigt increased its stake in JPMorgan Chase & Co. by 9.4% during the second quarter, resulting in ownership of 1,242,500 shares valued at approximately $360 million.
• Several other hedge funds also adjusted their positions, contributing to the fact that 71.55% of the stock is owned by institutional investors.
• JPMorgan recently announced an increase in its quarterly dividend to $1.50 per share, reflecting a $6.00 annualized dividend and a yield of 1.9%.

Alecta Tjanstepension Omsesidigt raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 9.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,242,500 shares of the financial services provider's stock after purchasing an additional 107,000 shares during the period. JPMorgan Chase & Co. accounts for about 1.7% of Alecta Tjanstepension Omsesidigt's portfolio, making the stock its 17th largest position. Alecta Tjanstepension Omsesidigt's holdings in JPMorgan Chase & Co. were worth $360,027,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of JPMorgan Chase & Co. by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after acquiring an additional 454,226 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after purchasing an additional 23,465,278 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of JPMorgan Chase & Co. by 2.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock worth $5,040,469,000 after purchasing an additional 548,853 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of JPMorgan Chase & Co. by 5.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider's stock worth $4,523,588,000 after purchasing an additional 890,553 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $3,972,807,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JPM. Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Evercore ISI set a $298.00 target price on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, July 7th. Zacks Research downgraded JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $292.78.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock traded up $1.02 during trading on Friday, hitting $314.25. 23,513,937 shares of the company were exchanged, compared to its average volume of 7,166,939. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $315.80. The firm has a 50 day moving average price of $296.43 and a 200 day moving average price of $269.15. The stock has a market capitalization of $864.11 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 2.08 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $6.12 earnings per share. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a $1.50 dividend. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

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.