JPMorgan Chase & Co. (NYSE:JPM) Stock Holdings Reduced by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB reduced its position in JPMorgan Chase & Co. by 10.8%, holding 1,257,482 shares valued at approximately $308 million after selling 152,224 shares in Q1.
• JPMorgan Chase reported earnings of $4.96 per share for the last quarter, exceeding the consensus estimate of $4.48, despite a 10.5% decline in revenue year-over-year.
• The company announced a quarterly dividend of $1.40 per share, reflecting an annual yield of 1.9% and a dividend payout ratio of 28.73%.

Skandinaviska Enskilda Banken AB publ trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 10.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,257,482 shares of the financial services provider's stock after selling 152,224 shares during the period. JPMorgan Chase & Co. accounts for about 1.5% of Skandinaviska Enskilda Banken AB publ's portfolio, making the stock its 10th biggest holding. Skandinaviska Enskilda Banken AB publ's holdings in JPMorgan Chase & Co. were worth $308,297,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in JPM. Hurlow Wealth Management Group Inc. lifted its stake in shares of JPMorgan Chase & Co. by 0.7% in the 4th quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider's stock valued at $1,328,000 after purchasing an additional 40 shares during the period. Wimmer Associates 1 LLC lifted its stake in shares of JPMorgan Chase & Co. by 1.0% in the 4th quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock valued at $986,000 after purchasing an additional 40 shares during the period. Twin Lakes Capital Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 0.3% in 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 purchasing an additional 40 shares during the period. First Command Advisory Services Inc. lifted its stake 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 valued at $2,283,000 after purchasing an additional 40 shares during the period. Finally, Black Swift Group LLC lifted its stake 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 valued at $1,413,000 after purchasing an additional 40 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JPM has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Truist Financial boosted their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Finally, Phillip Securities lowered JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $288.68.

JPMorgan Chase & Co. Stock Down 2.4%

Shares of JPMorgan Chase & Co. stock traded down $7.03 on Friday, hitting $289.21. The company had a trading volume of 12,005,470 shares, compared to its average volume of 8,727,902. The stock has a market capitalization of $803.74 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 1.95 and a beta of 1.11. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $301.29. The stock has a 50 day moving average of $281.04 and a 200-day moving average of $261.57. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping the consensus estimate 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 return on equity of 16.93% and a net margin of 20.52%. The company's quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $6.12 earnings per share. 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. Announces Dividend

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

Insiders Place Their Bets

In other news, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the completion of the transaction, the chief financial officer directly owned 18,017 shares of the company's stock, valued at $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Stacey Friedman sold 6,608 shares of the company'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 $1,755,811.68. Following the completion of the transaction, the general counsel directly owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock worth $18,060,015 over the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

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.