DnB Asset Management AS Has $241.73 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

DnB Asset Management AS boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,008,419 shares of the financial services provider’s stock after purchasing an additional 115,406 shares during the quarter. JPMorgan Chase & Co. comprises 1.0% of DnB Asset Management AS’s portfolio, making the stock its 16th largest holding. DnB Asset Management AS’s holdings in JPMorgan Chase & Co. were worth $241,728,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sellwood Investment Partners LLC bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth $34,000. Midwest Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $43,000. Legacy Investment Solutions LLC bought a new stake in JPMorgan Chase & Co. during the third quarter valued at about $45,000. Collier Financial bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $45,000. Finally, Lowe Wealth Advisors LLC lifted its position 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 purchasing an additional 51 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $243.58 on Wednesday. The stock has a market capitalization of $681.06 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 2.83 and a beta of 1.10. The firm’s 50-day moving average price is $256.88 and its two-hundred day moving average price is $241.33. 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. has a 1-year low of $179.20 and a 1-year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results 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 return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same period in the prior year, the company earned $3.04 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal 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 issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s payout ratio is currently 28.37%.

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the transaction, the general counsel now directly owns 47,620 shares in the company, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jennifer Piepszak sold 4,273 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the completion of the sale, the chief operating officer now directly owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. This represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,848 shares of company stock worth $19,987,908 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $215.00 to $220.00 in a research report on Friday, March 7th. UBS Group upped their target price on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Barclays upped their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Bank of America lifted their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average target price of $254.83.

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.