AMF Tjanstepension AB increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 9.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 840,975 shares of the financial services provider’s stock after acquiring an additional 74,114 shares during the period. JPMorgan Chase & Co. comprises 1.7% of AMF Tjanstepension AB’s investment portfolio, making the stock its 19th biggest position. AMF Tjanstepension AB’s holdings in JPMorgan Chase & Co. were worth $270,979,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of JPM. Paul R. Ried Financial Group LLC raised its position in shares of JPMorgan Chase & Co. by 11.9% during the 4th quarter. Paul R. Ried Financial Group LLC now owns 1,225 shares of the financial services provider’s stock valued at $395,000 after acquiring an additional 130 shares during the last quarter. Hartford Funds Management Co LLC raised its position in shares of JPMorgan Chase & Co. by 38.1% during the 4th quarter. Hartford Funds Management Co LLC now owns 15,996 shares of the financial services provider’s stock valued at $5,155,000 after acquiring an additional 4,413 shares during the last quarter. Paradigm Capital Management LLC NV raised its position in shares of JPMorgan Chase & Co. by 3.6% during the 4th quarter. Paradigm Capital Management LLC NV now owns 11,218 shares of the financial services provider’s stock valued at $3,615,000 after acquiring an additional 392 shares during the last quarter. Csenge Advisory Group raised its position in shares of JPMorgan Chase & Co. by 3.5% during the 4th quarter. Csenge Advisory Group now owns 40,922 shares of the financial services provider’s stock valued at $13,186,000 after acquiring an additional 1,371 shares during the last quarter. Finally, Integral Investment Advisors Inc. raised its position in shares of JPMorgan Chase & Co. by 2.9% during the 4th quarter. Integral Investment Advisors Inc. now owns 15,336 shares of the financial services provider’s stock valued at $4,942,000 after acquiring an additional 436 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.
More JPMorgan Chase & Co. News
Here are the key news stories impacting JPMorgan Chase & Co. this week:
- Positive Sentiment: CEO Jamie Dimon said JPMorgan Chase could have up to $10 billion to $20 billion available for a major acquisition, signaling the bank has substantial firepower and flexibility to pursue deals if the right opportunity emerges. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
- Positive Sentiment: JPMorgan Asset Management launched a new Managed Futures Plus ETF (JPFP), expanding its active ETF lineup and reinforcing the firm’s asset-management franchise. J.P. Morgan Asset Management Launches JPMorgan Managed Futures Plus ETF (JPFP) on NYSE
- Positive Sentiment: JPMorgan’s strategists said retail trading activity may rebound, which could provide a broader tailwind for U.S. stocks and trading-related revenues. Retail Revival Adds Fuel to US Stocks, JPMorgan Strategists Say
- Neutral Sentiment: The company announced a preferred stock redemption, a routine capital-management move that is generally not material on its own. JPMorganChase Announcement Concerning Preferred Stock
- Neutral Sentiment: JPMorgan also said a Bitcoin ETF outflow trend may reflect a “cooling” crypto trade, which is more of a market commentary than a direct earnings catalyst for JPM. JPMorgan Says Bitcoin ETF Outflows A Sign Of ‘Cooling’ Trade
- Negative Sentiment: Dimon also warned that JPMorgan is “over-earning” and that costs could rise, which spooked investors by suggesting margin pressure and less durable profit levels. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
- Negative Sentiment: JPMorgan is also facing headlines over a $4.25 million arbitration ruling tied to the “salami incident,” adding an unwanted legal and reputational distraction. The ‘Salami Incident’ That Has JPMorgan Chase on the Hook for $4.25 Million
Wall Street Analysts Forecast Growth
Read Our Latest Analysis on JPM
JPMorgan Chase & Co. Price Performance
JPM opened at $296.53 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 12 month low of $260.31 and a 12 month high of $337.25. The company has a fifty day simple moving average of $302.25 and a 200 day simple moving average of $306.84. The stock has a market cap of $794.56 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.46 and a beta of 1.03.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating analysts’ consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business had revenue of $50.54 billion during the quarter, compared to analysts’ expectations of $48.30 billion. During the same quarter in the prior year, the company earned $5.07 EPS. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. On average, research analysts expect that JPMorgan Chase & Co. will post 22.4 EPS for the current year.
JPMorgan Chase & Co. Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.74%.
Insiders Place Their Bets
In related news, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total transaction of $935,037.02. Following the completion of the sale, the chief financial officer directly owned 32,438 shares of the company’s stock, valued at approximately $10,036,641.58. This represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total value of $1,641,876.36. Following the sale, the general counsel directly owned 46,428 shares of the company’s stock, valued at approximately $13,940,935.56. The trade was a 10.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,589 shares of company stock valued at $8,747,496 in the last quarter. 0.41% of the stock is owned by company insiders.
About JPMorgan Chase & Co.
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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