ING Groep NV Grows Stake in JPMorgan Chase & Co. $JPM

ING Groep NV increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 169.2% in the 3rd quarter, Holdings Channel reports. The firm owned 509,616 shares of the financial services provider’s stock after purchasing an additional 320,287 shares during the period. JPMorgan Chase & Co. accounts for 0.9% of ING Groep NV’s investment portfolio, making the stock its 25th largest holding. ING Groep NV’s holdings in JPMorgan Chase & Co. were worth $160,748,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Harbor Asset Planning Inc. purchased a new position in shares of JPMorgan Chase & Co. in the second quarter worth about $26,000. Mizuho Securities Co. Ltd. raised its holdings in JPMorgan Chase & Co. by 450.0% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 90 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $32,000. Family Legacy Financial Solutions LLC boosted its holdings in shares of JPMorgan Chase & Co. by 92.6% during the 3rd quarter. Family Legacy Financial Solutions LLC now owns 104 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 50 shares during the last quarter. Finally, Collier Financial purchased a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $60,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

More JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

Analyst Upgrades and Downgrades

JPM has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $354.00 to $363.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $336.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Zacks Research downgraded shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Daiwa Securities Group increased their price target on shares of JPMorgan Chase & Co. from $345.00 to $353.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Finally, Truist Financial set a $334.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, January 14th. Fourteen research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average price target of $339.73.

Get Our Latest Research Report on JPM

Insider Buying and Selling

In other news, COO Jennifer Piepszak sold 8,571 shares of the stock in a transaction on Friday, January 16th. The stock was sold at an average price of $312.79, for a total value of $2,680,923.09. Following the sale, the chief operating officer directly owned 71,027 shares in the company, valued at approximately $22,216,535.33. This trade represents a 10.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 3,404 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $306.40, for a total value of $1,042,985.60. Following the transaction, the general counsel directly owned 61,949 shares of the company’s stock, valued at $18,981,173.60. The trade was a 5.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,164 shares of company stock valued at $6,579,748 in the last ninety days. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.6%

JPM opened at $309.03 on Thursday. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $337.25. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 1.27. The business has a fifty day simple moving average of $315.40 and a 200-day simple moving average of $307.87. The firm has a market cap of $833.45 billion, a P/E ratio of 15.44, a P/E/G ratio of 1.50 and a beta of 1.07.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last posted its earnings results on Tuesday, January 13th. The financial services provider reported $5.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.93 by $0.30. The firm had revenue of $45.80 billion for the quarter, compared to analyst estimates of $45.98 billion. JPMorgan Chase & Co. had a return on equity of 17.16% and a net margin of 20.35%.JPMorgan Chase & Co.’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.81 EPS. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, January 31st. Investors of record on Tuesday, January 6th were issued a $1.50 dividend. The ex-dividend date was Tuesday, January 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is 29.99%.

JPMorgan Chase & Co. Company Profile

(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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