AMF Tjanstepension AB Acquires 12,219 Shares of JPMorgan Chase & Co. $JPM

Key Points

• AMF Tjanstepension AB increased its JPMorgan Chase stake by 1.5% in the first quarter, adding 12,219 shares to reach 853,194 shares. The position was valued at about $250.98 million and now represents 1.7% of its portfolio.
• JPMorgan’s recent business performance remains strong, with the company reporting record Q2 profits, net income up 41%, and higher full-year net interest income guidance. Analysts have responded by raising price targets and earnings expectations.
• The stock also has support from a recent quarterly dividend of $1.50 per share and expectations for a possible dividend increase after passing the Federal Reserve stress test. Meanwhile, several insiders, including the CFO and COO, sold shares under pre-arranged trading plans.

AMF Tjanstepension AB lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 853,194 shares of the financial services provider's stock after acquiring an additional 12,219 shares during the period. JPMorgan Chase & Co. makes up about 1.7% of AMF Tjanstepension AB's investment portfolio, making the stock its 19th largest holding. AMF Tjanstepension AB's holdings in JPMorgan Chase & Co. were worth $250,976,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in JPM. Timmons Wealth Management LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $32,000. MBM Wealth Consultants LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $29,000. Osbon Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $35,000. Finally, Turning Point Benefit Group Inc. acquired a new position in shares of JPMorgan Chase & Co. in the third quarter valued at about $35,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Key JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan’s blowout Q2 earnings are driving bullish sentiment, with the bank reporting record profits, 41% higher net income, strong trading and investment banking activity, and higher full-year net interest income guidance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income -- Up 41% -- and CEO Jamie Dimon Said the Economy Is "Close to as Good as It Gets."
• Positive Sentiment: Analysts have been raising expectations after the results, including multiple higher price targets and upgraded earnings forecasts, signaling confidence that JPMorgan can continue to outperform. JPMorgan Price Target Raised to $380 on Strong Q2 Results, Upgraded Outlook and Capital Strength
• Positive Sentiment: The stock is also benefiting from expectations that JPMorgan may raise its quarterly dividend by 10% after passing the Federal Reserve stress test, reinforcing the bank’s capital strength and shareholder-return story. JPM Stock Just Staged a Record Bull Run. 1 Analyst Thinks It Can Still Soar to $420.
• Neutral Sentiment: JPMorgan was added to several “Strong Buy” and momentum/income stock lists, which adds to positive sentiment but is less directly impactful than earnings or guidance. New Strong Buy Stocks for July 17th
• Neutral Sentiment: JPMorgan also drew attention for major financing activity and a $24 million Philadelphia shipbuilding investment, highlighting ongoing business expansion and capital deployment. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Late-day sector weakness in financial stocks may be limiting JPMorgan’s upside even as company-specific fundamentals remain strong. Sector Update: Financial Stocks Decline Friday Afternoon

Insider Transactions at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 3,022 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the transaction, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. This trade represents a 8.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the sale, the chief operating officer owned 85,082 shares in the company, valued at approximately $26,326,072.44. This represents a 5.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 18,876 shares of company stock worth $5,907,051. Insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. HSBC upped their target price on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a "hold" rating in a research report on Monday, May 4th. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research note on Wednesday, April 15th. Weiss Ratings raised shares of JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday, July 6th. Evercore reiterated an "outperform" rating and set a $360.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. Finally, Robert W. Baird raised their target price on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a "neutral" rating in a report on Wednesday. Fifteen analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $354.92.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $341.60 on Friday. The firm's fifty day moving average price is $319.11 and its two-hundred day moving average price is $310.31. The stock has a market cap of $915.33 billion, a PE ratio of 14.64, a PEG ratio of 1.54 and a beta of 0.99. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $351.24. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.44. The company had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.JPMorgan Chase & Co.'s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the business posted $5.07 EPS. On average, equities analysts expect that JPMorgan Chase & Co. will post 23.24 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 25.71%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co NYSE: JPM is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm's principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

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