34,670,579 Shares in JPMorgan Chase & Co. (NYSE:JPM) Purchased by Norges Bank

Norges Bank bought a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 34,670,579 shares of the financial services provider’s stock, valued at approximately $8,310,884,000. JPMorgan Chase & Co. accounts for 1.1% of Norges Bank’s holdings, making the stock its 11th largest position.

A number of other large investors also recently added to or reduced their stakes in the business. Sellwood Investment Partners LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $34,000. Midwest Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth about $43,000. Legacy Investment Solutions LLC bought a new position in JPMorgan Chase & Co. during the third quarter valued at approximately $45,000. Collier Financial purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at approximately $45,000. Finally, Lowe Wealth Advisors LLC increased its stake in JPMorgan Chase & Co. by 34.0% in 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 last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the transaction, the chief executive officer now directly owns 158,381 shares in the company, valued at approximately $42,737,529.04. This trade represents a 19.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the transaction, the general counsel now directly owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,848 shares of company stock worth $19,987,908. Company insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and raised their target price for the company from $215.00 to $220.00 in a report on Friday, March 7th. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Evercore ISI lowered their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday. Truist Financial lifted their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Finally, Bank of America raised their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $254.83.

JPMorgan Chase & Co. Trading Down 0.7 %

Shares of JPM opened at $243.58 on Wednesday. The firm has a market capitalization of $681.06 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 2.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1-year low of $179.20 and a 1-year high of $280.25. The company has a 50-day moving average of $256.88 and a 200 day moving average of $241.33.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $41.90 billion. During the same quarter in the previous year, the firm posted $3.04 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. On average, research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

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