AMF Tjanstepension AB Acquires 74,114 Shares of JPMorgan Chase & Co. $JPM

Key Points

• AMF Tjanstepension AB increased its JPMorgan Chase stake by 9.7% in the fourth quarter, buying 74,114 additional shares and bringing its total holding to 840,975 shares worth about $271 million.
• JPMorgan recently reported strong quarterly results, with EPS of $5.94 beating estimates and revenue of $50.54 billion topping forecasts, while analysts still view the stock as a Moderate Buy with an average price target of $339.08.
• The bank highlighted several notable developments, including Jamie Dimon saying JPMorgan could have $10 billion to $20 billion available for a major acquisition and the launch of a new Managed Futures Plus ETF, though he also warned the company may be “over-earning” and facing rising costs.

AMF Tjanstepension AB grew its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 9.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 840,975 shares of the financial services provider's stock after acquiring an additional 74,114 shares during the quarter. JPMorgan Chase & Co. accounts for 1.7% of AMF Tjanstepension AB's portfolio, making the stock its 19th largest holding. AMF Tjanstepension AB's holdings in JPMorgan Chase & Co. were worth $270,979,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of JPM. Turning Point Benefit Group Inc. bought a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at about $35,000. Merrithew & Thorsten Inc bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $40,000. WHI TRUST Co LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $45,000. Cresta Advisors Ltd. bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $48,000. Finally, Miller Global Investments LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth $52,000. 71.55% of the stock is owned by institutional investors.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: CEO Jamie Dimon said JPMorgan Chase could have up to $10 billion to $20 billion available for a major acquisition, signaling the bank has substantial firepower and flexibility to pursue deals if the right opportunity emerges. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: 'We are on the lookout'
• Positive Sentiment: JPMorgan Asset Management launched a new Managed Futures Plus ETF (JPFP), expanding its active ETF lineup and reinforcing the firm’s asset-management franchise. J.P. Morgan Asset Management Launches JPMorgan Managed Futures Plus ETF (JPFP) on NYSE
• Positive Sentiment: JPMorgan’s strategists said retail trading activity may rebound, which could provide a broader tailwind for U.S. stocks and trading-related revenues. Retail Revival Adds Fuel to US Stocks, JPMorgan Strategists Say
• Neutral Sentiment: The company announced a preferred stock redemption, a routine capital-management move that is generally not material on its own. JPMorganChase Announcement Concerning Preferred Stock
• Neutral Sentiment: JPMorgan also said a Bitcoin ETF outflow trend may reflect a “cooling” crypto trade, which is more of a market commentary than a direct earnings catalyst for JPM. JPMorgan Says Bitcoin ETF Outflows A Sign Of ‘Cooling’ Trade
• Negative Sentiment: Dimon also warned that JPMorgan is “over-earning” and that costs could rise, which spooked investors by suggesting margin pressure and less durable profit levels. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: 'We are on the lookout'
• Negative Sentiment: JPMorgan is also facing headlines over a $4.25 million arbitration ruling tied to the “salami incident,” adding an unwanted legal and reputational distraction. The ‘Salami Incident' That Has JPMorgan Chase on the Hook for $4.25 Million

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $296.53 on Friday. JPMorgan Chase & Co. has a 1 year low of $260.31 and a 1 year high of $337.25. The firm has a 50 day moving average of $302.25 and a 200-day moving average of $306.84. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $794.56 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 1.46 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The company had revenue of $50.54 billion during the quarter, compared to analysts' expectations of $48.30 billion. During the same quarter in the previous year, the company posted $5.07 earnings per share. JPMorgan Chase & Co.'s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 22.4 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a $1.50 dividend. The ex-dividend date is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is 28.74%.

Insider Activity

In related news, General Counsel Stacey Friedman sold 5,468 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the transaction, the general counsel directly owned 46,428 shares of the company's stock, valued at $13,940,935.56. The trade was a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 9,136 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total value of $2,800,732.16. Following the completion of the transaction, the chief operating officer directly owned 90,001 shares of the company's stock, valued at $27,590,706.56. This represents a 9.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 28,589 shares of company stock worth $8,747,496. 0.41% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on JPM shares. Truist Financial raised their price objective on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a "hold" rating in a report on Wednesday, April 15th. Robert W. Baird set a $295.00 price objective on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. The Goldman Sachs Group set a $361.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, April 14th. Wells Fargo & Company cut their price target on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set an "overweight" rating for the company in a research note on Tuesday, February 17th. Finally, Daiwa Securities Group cut their price target on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating for the company in a research note on Tuesday, April 7th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and an average price target of $339.08.

JPMorgan Chase & Co. Profile

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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