Norges Bank Acquires Shares of 34,670,579 JPMorgan Chase & Co. (NYSE:JPM)

Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,670,579 shares of the financial services provider’s stock, valued at approximately $8,310,884,000. JPMorgan Chase & Co. comprises about 1.1% of Norges Bank’s portfolio, making the stock its 11th largest holding. Norges Bank owned about 1.23% of JPMorgan Chase & Co. as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of JPM. Sellwood Investment Partners LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter worth $34,000. Midwest Capital Advisors LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth about $43,000. Legacy Investment Solutions LLC purchased a new stake in JPMorgan Chase & Co. in the third quarter worth about $45,000. Collier Financial purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $45,000. Finally, Lowe Wealth Advisors LLC grew its holdings in shares of 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 worth $48,000 after acquiring an additional 51 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JPM has been the subject of a number of research analyst reports. Piper Sandler raised their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a report on Friday, January 3rd. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $215.00 to $220.00 in a research report on Friday, March 7th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average target price of $254.83.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 transaction, the insider now directly owns 50,377 shares in the company, valued at approximately $13,606,323.93. The trade was a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,848 shares of company stock worth $19,987,908 in the last 90 days. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Trading Down 0.7 %

Shares of JPM stock opened at $243.58 on Wednesday. The stock has a market capitalization of $681.06 billion, a P/E 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. The firm’s 50 day moving average is $256.88 and its 200 day moving average is $241.33. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. JPMorgan Chase & Co.’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.04 earnings per share. Research 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 declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be given a $1.40 dividend. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a yield of 2.30%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 28.37%.

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.