Handelsbanken Fonder AB Reduces Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Handelsbanken Fonder AB lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 7.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,253,696 shares of the financial services provider’s stock after selling 107,623 shares during the quarter. JPMorgan Chase & Co. comprises about 1.3% of Handelsbanken Fonder AB’s holdings, making the stock its 11th biggest holding. Handelsbanken Fonder AB’s holdings in JPMorgan Chase & Co. were worth $307,532,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in JPMorgan Chase & Co. by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock worth $14,161,171,000 after buying an additional 876,417 shares during the period. Norges Bank purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth about $8,310,884,000. Northern Trust Corp boosted its stake in JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock worth $8,113,147,000 after buying an additional 4,515,147 shares during the period. GAMMA Investing LLC boosted its stake in JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock worth $5,778,289,000 after buying an additional 23,465,278 shares during the period. Finally, Capital Research Global Investors boosted its stake in JPMorgan Chase & Co. by 9.1% during the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock worth $5,475,223,000 after buying an additional 1,914,049 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $268.09 on Thursday. The firm’s fifty day simple moving average is $250.05 and its 200-day simple moving average is $250.34. The stock has a market capitalization of $745.04 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 2.83 and a beta of 1.08. JPMorgan Chase & Co. has a 12 month low of $190.88 and a 12 month high of $280.25. 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. (NYSE:JPM) last announced its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44. The business had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $4.44 EPS. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.09%. JPMorgan Chase & Co.’s payout ratio is 27.49%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on JPM. Robert W. Baird raised their price objective on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a “neutral” rating in a research note on Tuesday, May 20th. Morgan Stanley reissued an “equal weight” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a “hold” rating for the company. UBS Group raised their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Finally, Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $269.65.

Insider Activity

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the transaction, the chief operating officer now directly owns 62,455 shares of the company’s stock, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $246.92, for a total transaction of $308,650.00. Following the completion of the transaction, the insider now directly owns 49,127 shares in the company, valued at $12,130,438.84. This represents a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,722 shares of company stock valued at $25,599,477 in the last ninety days. 0.47% of the stock is currently owned by company insiders.

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.