Lansforsakringar Fondforvaltning AB publ Reduces Holdings in JPMorgan Chase & Co. $JPM

Lansforsakringar Fondforvaltning AB publ trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 927,362 shares of the financial services provider’s stock after selling 5,808 shares during the quarter. JPMorgan Chase & Co. makes up about 1.4% of Lansforsakringar Fondforvaltning AB publ’s investment portfolio, making the stock its 12th largest holding. Lansforsakringar Fondforvaltning AB publ’s holdings in JPMorgan Chase & Co. were worth $272,791,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Morgan Stanley increased its stake in shares of JPMorgan Chase & Co. by 1.4% in the 4th quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock worth $21,390,662,000 after purchasing an additional 939,421 shares in the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. in the 4th quarter worth $11,396,496,000. Bank of New York Mellon Corp lifted its position in JPMorgan Chase & Co. by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock valued at $7,547,837,000 after purchasing an additional 1,194,583 shares in the last quarter. Legal & General Group Plc lifted its position in JPMorgan Chase & Co. by 0.6% during the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock valued at $6,128,484,000 after purchasing an additional 110,586 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in JPMorgan Chase & Co. by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider’s stock valued at $5,161,532,000 after purchasing an additional 296,213 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JPM has been the subject of a number of analyst reports. The Goldman Sachs Group set a $361.00 price target on JPMorgan Chase & Co. in a research report on Tuesday, April 14th. Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Autonomous Res dropped their target price on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a report on Monday, April 6th. Barclays reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, May 6th. Finally, Argus lifted their price target on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat, JPMorgan Chase & Co. has an average rating of “Hold” and an average target price of $340.88.

Check Out Our Latest Stock Report on JPMorgan Chase & Co.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the completion of the transaction, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. This trade represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of JPMorgan Chase & Co. stock in a transaction on 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 directly owned 85,082 shares of the company’s stock, valued at $26,326,072.44. The trade was a 5.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 33,623 shares of company stock valued at $10,427,835 over the last 90 days. 0.41% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $333.91 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. JPMorgan Chase & Co. has a 1-year low of $279.10 and a 1-year high of $343.45. The business has a 50 day simple moving average of $312.93 and a two-hundred day simple moving average of $308.93. The stock has a market capitalization of $894.72 billion, a PE ratio of 15.99, a P/E/G ratio of 1.53 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.44. The business had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $5.07 EPS. On average, research analysts predict that JPMorgan Chase & Co. will post 22.76 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is currently 28.74%.

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About JPMorgan Chase & Co.

(Free Report)

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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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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