KLP Kapitalforvaltning AS Has $325.72 Million Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• KLP Kapitalforvaltning AS increased its stake in JPMorgan Chase & Co. by 3.2%, now holding over 1.1 million shares valued at approximately $325.72 million.
• JPMorgan Chase's recent quarterly earnings report exceeded expectations, with an EPS of $5.07 and revenues of $46.43 billion, marking an 8.8% increase from the previous year.
• The company announced a quarterly dividend of $1.50 per share, up from $1.40, which translates to an annual yield of 2.0% based on its current share price.

KLP Kapitalforvaltning AS boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,123,532 shares of the financial services provider's stock after buying an additional 34,700 shares during the period. JPMorgan Chase & Co. makes up 1.4% of KLP Kapitalforvaltning AS's holdings, making the stock its 9th largest position. KLP Kapitalforvaltning AS's holdings in JPMorgan Chase & Co. were worth $325,723,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $28,000. University of Illinois Foundation purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at about $30,000. Ryan Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at about $37,000. Christopher J. Hasenberg Inc grew its stake in JPMorgan Chase & Co. by 212.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at about $76,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Down 1.9%

JPM opened at $302.11 on Wednesday. The business has a 50 day moving average price of $302.11 and a two-hundred day moving average price of $277.61. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The company has a market cap of $830.72 billion, a PE ratio of 15.50, a P/E/G ratio of 1.99 and a beta of 1.13. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.83 by $0.24. The firm had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm's revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.37 EPS. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s payout ratio is presently 30.79%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction that occurred 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 transaction, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Truist Financial boosted their price target on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a "hold" rating in a research note on Tuesday, September 23rd. Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Daiwa Capital Markets upped their target price on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft upped their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock a "hold" rating in a research note on Tuesday, September 30th. Finally, HSBC reiterated a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Fifteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $318.70.

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.

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