KLP Kapitalforvaltning AS Invests $259.04 Million in JPMorgan Chase & Co. (NYSE:JPM)

KLP Kapitalforvaltning AS purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,080,632 shares of the financial services provider’s stock, valued at approximately $259,038,000. JPMorgan Chase & Co. accounts for 1.2% of KLP Kapitalforvaltning AS’s portfolio, making the stock its 10th largest position.

Other hedge funds have also added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC raised its holdings in JPMorgan Chase & Co. by 3.0% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 60,385 shares of the financial services provider’s stock valued at $14,475,000 after acquiring an additional 1,784 shares during the period. Marietta Investment Partners LLC grew its position in shares of JPMorgan Chase & Co. by 38.3% in the fourth quarter. Marietta Investment Partners LLC now owns 29,625 shares of the financial services provider’s stock valued at $7,101,000 after purchasing an additional 8,200 shares during the last quarter. Umpqua Bank increased its stake in shares of JPMorgan Chase & Co. by 4.4% during the fourth quarter. Umpqua Bank now owns 24,890 shares of the financial services provider’s stock worth $6,160,000 after purchasing an additional 1,051 shares during the period. Sykon Capital LLC lifted its holdings in JPMorgan Chase & Co. by 11.8% during the 4th quarter. Sykon Capital LLC now owns 1,555 shares of the financial services provider’s stock worth $373,000 after purchasing an additional 164 shares during the last quarter. Finally, Intellus Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $16,061,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on JPM. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a research report on Friday, January 3rd. Piper Sandler lifted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $215.00 to $220.00 in a report on Friday, March 7th. UBS Group raised their target price 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. Finally, Truist Financial boosted their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $252.89.

JPMorgan Chase & Co. Trading Down 2.1 %

JPM opened at $242.97 on Friday. The company has a market cap of $679.36 billion, a P/E ratio of 12.31, a PEG 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 company’s 50 day moving average is $257.55 and its 200-day moving average is $240.30. 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 issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. The business had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.04 EPS. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be issued 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 of this dividend is Friday, April 4th. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.37%.

Insider Buying and Selling

In other news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the sale, the insider now directly owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. This trade represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value 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 represents a 6.49 % decrease in their position. 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. Insiders own 0.79% of the company’s stock.

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.