Tredje AP fonden Buys 196,584 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Tredje AP fonden increased its stake in JPMorgan Chase & Co. by 24% during the first quarter, owning over 1 million shares valued at approximately $248.99 million.
• Analyst opinions vary, with UBS Group and Royal Bank Of Canada giving JPMorgan a "buy" rating, while Baird R W downgraded it to a "strong sell".
• JPMorgan Chase recently announced a quarterly dividend of $1.40 per share, representing a dividend yield of 1.9% and a payout ratio of 28.73%.

Tredje AP fonden boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 24.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,015,040 shares of the financial services provider's stock after buying an additional 196,584 shares during the period. JPMorgan Chase & Co. makes up about 2.3% of Tredje AP fonden's investment portfolio, making the stock its 6th biggest position. Tredje AP fonden's holdings in JPMorgan Chase & Co. were worth $248,989,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Brighton Jones LLC boosted its holdings in JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after purchasing an additional 4,841 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in JPMorgan Chase & Co. by 0.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock worth $46,068,000 after purchasing an additional 1,229 shares during the last quarter. Highview Capital Management LLC DE boosted its holdings in JPMorgan Chase & Co. by 16.1% during the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock worth $3,266,000 after purchasing an additional 1,893 shares during the last quarter. KKM Financial LLC grew its position in shares of JPMorgan Chase & Co. by 3.9% in the 4th quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock valued at $4,040,000 after acquiring an additional 640 shares during the period. Finally, OLD Mission Capital LLC bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $225,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock traded up $0.07 during midday trading on Wednesday, hitting $291.44. 6,326,839 shares of the company traded hands, compared to its average volume of 10,062,375. The stock has a market cap of $809.93 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.97 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. The firm's fifty day moving average price is $282.23 and its 200-day moving average price is $262.14. JPMorgan Chase & Co. has a 12 month low of $200.20 and a 12 month high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same period in the previous year, the firm posted $6.12 EPS. The firm's revenue was down 10.5% on a year-over-year basis. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 2,821 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $749,567.91. Following the transaction, the general counsel owned 68,757 shares in the company, valued at approximately $18,269,422.47. The trade was a 3.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,557 shares of company stock worth $4,113,796 over the last three months. Insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of analyst reports. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, July 7th. Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Truist Financial raised their target price on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Finally, Bank of America lifted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. Company 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.