Handelsbanken Fonder AB Raises Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Handelsbanken Fonder AB increased its JPMorgan stake by 8.1% in the fourth quarter, buying 141,103 additional shares and bringing its total to 1,893,501 shares worth about $610.1 million.
• JPMorgan reported stronger-than-expected quarterly results, with EPS of $5.94 versus the $5.50 estimate and revenue of $50.54 billion, up 10% year over year.
• The bank maintained a shareholder-friendly dividend and has mixed Wall Street sentiment: it declared a $1.50 quarterly dividend, while analysts currently rate the stock a consensus “Moderate Buy” with a $339.08 target price.

Handelsbanken Fonder AB boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,893,501 shares of the financial services provider's stock after acquiring an additional 141,103 shares during the period. JPMorgan Chase & Co. comprises about 1.8% of Handelsbanken Fonder AB's investment portfolio, making the stock its 10th biggest holding. Handelsbanken Fonder AB owned about 0.07% of JPMorgan Chase & Co. worth $610,124,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Turning Point Benefit Group Inc. bought a new position in JPMorgan Chase & Co. in the third quarter worth about $35,000. Merrithew & Thorsten Inc bought a new position in JPMorgan Chase & Co. in the fourth quarter worth about $40,000. WHI TRUST Co LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $45,000. Cresta Advisors Ltd. bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $48,000. Finally, Miller Global Investments LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $52,000. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $296.53 on Friday. JPMorgan Chase & Co. has a 12 month low of $260.31 and a 12 month high of $337.25. The stock has a market cap of $794.56 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.46 and a beta of 1.03. The stock's 50 day moving average price is $302.25 and its 200 day moving average price is $306.84. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The firm had revenue of $50.54 billion for the quarter, compared to analysts' expectations of $48.30 billion. During the same quarter in the previous year, the company earned $5.07 earnings per share. The firm's quarterly revenue was up 10.0% compared to the same quarter last year. Equities research analysts anticipate that JPMorgan Chase & Co. will post 22.4 earnings per share 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. Investors of record on Monday, July 6th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is presently 28.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Robert W. Baird set a $295.00 price target on JPMorgan Chase & Co. in a report on Wednesday, April 15th. Jefferies Financial Group reaffirmed a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. HSBC lifted their price target on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a "hold" rating in a report on Monday, May 4th. Barclays reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, May 6th. Finally, Daiwa Securities Group cut their price target on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. Fifteen research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $339.08.

Insider Transactions at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 433 shares of the business's stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $295.06, for a total transaction of $127,760.98. Following the sale, the insider owned 64,920 shares of the company's stock, valued at $19,155,295.20. The trade was a 0.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 5,468 shares of the business's stock in a transaction that occurred on 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 sale, the general counsel directly owned 46,428 shares in the company, valued at approximately $13,940,935.56. The trade was a 10.54% decrease in their position. 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. Insiders sold 28,589 shares of company stock worth $8,747,496 in the last three months. 0.41% of the stock is currently owned by company insiders.

Trending Headlines about JPMorgan Chase & Co.

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. 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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