Oslo Pensjonsforsikring AS Invests $2.95 Million in JPMorgan Chase & Co. $JPM

Key Points

• Oslo Pensjonsforsikring AS initiated a new position in JPMorgan Chase during the first quarter, buying 10,019 shares worth about $2.95 million. The stake now represents about 0.5% of its portfolio and is its 22nd-largest holding.
• JPMorgan posted a strong quarterly result, with EPS of $6.14 topping estimates and revenue of $58.02 billion beating expectations. Revenue also rose 27.7% year over year, reinforcing bullish sentiment around the bank.
• Analysts remain broadly positive, with MarketBeat citing a Moderate Buy consensus and an average price target of $358.67. The stock also recently traded near its 52-week high and the bank declared a $1.50 quarterly dividend.

Oslo Pensjonsforsikring AS bought a new position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,019 shares of the financial services provider's stock, valued at approximately $2,947,000. JPMorgan Chase & Co. comprises about 0.5% of Oslo Pensjonsforsikring AS's investment portfolio, making the stock its 22nd biggest position.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $11,396,496,000. Cardano Risk Management B.V. increased its stake in shares of JPMorgan Chase & Co. by 889.3% during the fourth quarter. Cardano Risk Management B.V. now owns 8,673,530 shares of the financial services provider's stock valued at $2,794,785,000 after buying an additional 7,796,814 shares during the period. American Assets Investment Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 1,172.2% during the fourth quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider's stock valued at $728,024,000 after acquiring an additional 2,081,800 shares in the last quarter. Viking Global Investors LP raised its holdings in shares of JPMorgan Chase & Co. by 86.1% during the second quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider's stock valued at $1,171,826,000 after acquiring an additional 1,870,386 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth $474,516,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

More JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan continues to draw favorable analyst attention, with multiple reports saying it remains a strong long-term and momentum pick for investors. Wall Street Analysts Think JPMorgan Chase & Co. (JPM) Is a Good Investment: Is It?
• Positive Sentiment: Recent commentary highlighted JPMorgan’s earnings strength and AI-related growth themes in banking, which supports the view that the company can keep outperforming peers. JPMorgan Sees AI-Powered Growth For Banks; Stock Pops Into Buy Zone After Earnings Growth
• Positive Sentiment: JPMorgan was also cited as a top momentum candidate and long-term stock pick by Zacks, adding to the bullish sentiment around the shares. Are You Looking for a Top Momentum Pick? Why JPMorgan Chase & Co. (JPM) is a Great Choice
• Neutral Sentiment: The bank completed $9 billion in debt offerings, which is a routine capital-markets transaction that may help funding flexibility but is not clearly a major near-term catalyst. JPMorgan Chase Raises $9 Billion Through Debt Offerings
• Neutral Sentiment: JPMorgan’s broader market commentary on oil, Iran-related disruption, and global risks reflects its macro views, but these notes are more informative than directly stock-moving for JPM itself. Here’s what each additional month of Iran-conflict disruption means for oil prices
• Negative Sentiment: House lawmakers questioned former JPMorgan executive Jes Staley over Epstein-related ties, which keeps reputational and legal-overhang concerns in the background for the bank. House lawmakers grill former JPMorgan executive Jes Staley over Epstein ties

Insider Transactions at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the transaction, the chief financial officer directly owned 32,438 shares in the company, valued at $10,036,641.58. This trade represents a 8.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the completion of the transaction, the chief operating officer owned 85,082 shares of the company's stock, valued at approximately $26,326,072.44. The trade was a 5.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 18,876 shares of company stock valued at $5,907,051 in the last three months. 0.41% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Autonomous Res cut their price target on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a "neutral" rating on the stock in a report on Monday, April 6th. Jefferies Financial Group set a $350.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 14th. Weiss Ratings cut shares of JPMorgan Chase & Co. from a "buy (b+)" rating to a "buy (b)" rating in a research report on Tuesday. Daiwa Securities Group cut their target price on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 7th. Finally, Robert W. Baird boosted their price target on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $358.67.

JPMorgan Chase & Co. Trading Up 0.9%

JPM opened at $352.88 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $353.37. The stock has a market cap of $945.55 billion, a PE ratio of 15.12, a PEG ratio of 1.56 and a beta of 0.99. The business has a 50 day moving average of $323.74 and a 200-day moving average of $311.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.55. The company had revenue of $58.02 billion for the quarter, compared to analysts' expectations of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The firm's revenue for the quarter was up 27.7% on a year-over-year basis. During the same period in the prior year, the firm earned $4.96 earnings per share. Equities research analysts predict that JPMorgan Chase & Co. will post 23.97 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.'s payout ratio is 25.71%.

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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