Handelsbanken Fonder AB Acquires 141,103 Shares of JPMorgan Chase & Co. $JPM

Handelsbanken Fonder AB boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 8.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,893,501 shares of the financial services provider’s stock after buying an additional 141,103 shares during the quarter. JPMorgan Chase & Co. accounts for 1.8% of Handelsbanken Fonder AB’s holdings, making the stock its 10th largest position. Handelsbanken Fonder AB’s holdings in JPMorgan Chase & Co. were worth $610,124,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Turning Point Benefit Group Inc. acquired a new position in JPMorgan Chase & Co. in the third quarter worth approximately $35,000. Merrithew & Thorsten Inc acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $40,000. WHI TRUST Co LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $45,000. Cresta Advisors Ltd. acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $48,000. Finally, Miller Global Investments LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $52,000. Institutional investors and hedge funds 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

JPMorgan Chase & Co. Trading Down 0.9%

NYSE JPM opened at $296.53 on Friday. JPMorgan Chase & Co. has a twelve month low of $260.31 and a twelve month high of $337.25. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $794.56 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.46 and a beta of 1.03. The firm’s 50 day moving average price is $302.25 and its two-hundred day moving average price is $306.84.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. During the same period in the previous year, the company posted $5.07 EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities analysts anticipate that JPMorgan Chase & Co. will post 22.4 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is currently 28.74%.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 433 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $295.06, for a total transaction of $127,760.98. Following the transaction, the insider directly owned 64,920 shares in the company, valued at $19,155,295.20. The trade was a 0.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Stacey Friedman sold 5,468 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the transaction, the general counsel owned 46,428 shares in the company, valued at approximately $13,940,935.56. This represents a 10.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 28,589 shares of company stock valued at $8,747,496. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the topic of several recent research reports. Autonomous Res decreased their price target on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. Jefferies Financial Group reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. UBS Group lowered their price objective on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research report on Wednesday, May 6th. Daiwa Securities Group lowered their price objective on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Finally, Piper Sandler lifted their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Fifteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $339.08.

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.