Livforsakringsbolaget Skandia Omsesidigt Has $57.51 Million Position in JPMorgan Chase & Co. $JPM

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in JPMorgan Chase & Co. by 18.7%, acquiring an additional 31,300 shares, bringing their total to 198,460 shares valued at approximately $57.5 million.
• The company recently declared a quarterly dividend of $1.50 per share, up from the previous dividend of $1.40, representing an annualized yield of 1.9%.
• JPMorgan Chase & Co. reported quarterly earnings of $4.96 EPS, exceeding analysts' expectations, with revenues of $44.91 billion, although down 10.5% compared to the same quarter last year.

Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 18.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,460 shares of the financial services provider's stock after purchasing an additional 31,300 shares during the period. JPMorgan Chase & Co. makes up approximately 2.7% of Livforsakringsbolaget Skandia Omsesidigt's investment portfolio, making the stock its 6th biggest position. Livforsakringsbolaget Skandia Omsesidigt's holdings in JPMorgan Chase & Co. were worth $57,506,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC lifted its holdings in shares of JPMorgan Chase & Co. by 609,867.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider's stock valued at $21,133,630,000 after acquiring an additional 72,885,260 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in JPMorgan Chase & Co. by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after purchasing an additional 454,226 shares during the last quarter. GAMMA Investing LLC grew its holdings in JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after purchasing an additional 23,465,278 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock worth $5,040,469,000 after purchasing an additional 548,853 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in JPMorgan Chase & Co. by 5.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider's stock worth $4,523,588,000 after purchasing an additional 890,553 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on JPM shares. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price for the company. in a report on Friday, June 27th. Zacks Research lowered JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a report on Monday, July 7th. Evercore ISI set a $298.00 target price on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. Finally, Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $292.78.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

NYSE:JPM traded down $0.88 during trading hours on Tuesday, reaching $311.56. 3,515,823 shares of the company traded hands, compared to its average volume of 9,630,995. The firm's 50-day moving average is $296.91 and its 200-day moving average is $269.93. The stock has a market cap of $856.70 billion, a P/E ratio of 15.99, a P/E/G ratio of 2.09 and a beta of 1.13. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $316.31.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

JPMorgan Chase & Co. 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.