JPMorgan Chase & Co. (NYSE:JPM) Position Lifted by DnB Asset Management AS

DnB Asset Management AS raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 12.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,008,419 shares of the financial services provider’s stock after purchasing an additional 115,406 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.0% of DnB Asset Management AS’s holdings, making the stock its 16th biggest holding. DnB Asset Management AS’s holdings in JPMorgan Chase & Co. were worth $241,728,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sellwood Investment Partners LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter worth $34,000. Midwest Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $43,000. Legacy Investment Solutions LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $45,000. Collier Financial bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $45,000. Finally, Lowe Wealth Advisors LLC boosted its position in JPMorgan Chase & Co. by 34.0% during the 4th quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group increased their price objective on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Evercore ISI reduced their price objective on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday. Barclays raised their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research report on Friday, January 3rd. Finally, Piper Sandler raised their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.83.

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the sale, the insider now owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,848 shares of company stock valued at $19,987,908. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $243.58 on Wednesday. JPMorgan Chase & Co. has a one year low of $179.20 and a one year high of $280.25. The firm has a 50-day moving average of $256.88 and a two-hundred day moving average of $241.33. The firm has a market capitalization of $681.06 billion, a PE ratio of 12.34, a P/E/G ratio of 2.83 and a beta of 1.10. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. During the same quarter last year, the business posted $3.04 EPS. The company’s revenue was up 10.9% on a year-over-year basis. On average, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.30%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.’s payout ratio is presently 28.37%.

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.