Livforsakringsbolaget Skandia Omsesidigt Decreases Stake in JPMorgan Chase & Co. $JPM

Key Points

• Livforsakringsbolaget Skandia Omsesidigt has reduced its stake in JPMorgan Chase & Co. by 72.4%, selling 121,020 shares and now holding 46,140 shares valued at approximately $13.4 million.
• Recent analyst ratings show a consensus of Moderate Buy for JPMorgan Chase, with price targets ranging from $235 to $290, indicating varied expectations among researchers.
• The company announced an increase in its quarterly dividend to $1.50 per share, with the ex-dividend date on October 6th, which reflects a 1.9% yield on an annualized basis.

Livforsakringsbolaget Skandia Omsesidigt reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 72.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,140 shares of the financial services provider's stock after selling 121,020 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in JPMorgan Chase & Co. were worth $13,376,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Twin Lakes Capital Management LLC lifted its position in shares of JPMorgan Chase & Co. by 0.3% during the 4th quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock valued at $3,340,000 after acquiring an additional 40 shares during the period. First Command Advisory Services Inc. boosted its position in shares of JPMorgan Chase & Co. by 0.4% in the 1st quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock worth $2,283,000 after buying an additional 40 shares in the last quarter. Black Swift Group LLC boosted its position in shares of JPMorgan Chase & Co. by 0.7% in the 1st quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock worth $1,413,000 after buying an additional 40 shares in the last quarter. Beacon Bridge Wealth Partners LLC boosted its position in shares of JPMorgan Chase & Co. by 1.8% in the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock worth $547,000 after buying an additional 40 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC boosted its position in shares of JPMorgan Chase & Co. by 1.7% in the 1st quarter. Jackson Creek Investment Advisors LLC now owns 2,470 shares of the financial services provider's stock worth $606,000 after buying an additional 41 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

JPM has been the topic of several recent research reports. Truist Financial boosted their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective on the stock. in a research report on Friday, June 27th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Finally, Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $292.78.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Up 0.1%

JPM opened at $309.19 on Wednesday. The firm has a 50 day moving average price of $294.81 and a 200 day moving average price of $268.04. The company has a market cap of $850.20 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $310.90. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company's revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.12 EPS. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share 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. Investors of record on Monday, October 6th will be given a dividend of $1.50 per share. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

About JPMorgan Chase & Co.

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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.