AMF Tjanstepension AB Increases Position in JPMorgan Chase & Co. (NYSE:JPM)

AMF Tjanstepension AB grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 17.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 473,785 shares of the financial services provider’s stock after acquiring an additional 69,451 shares during the quarter. AMF Tjanstepension AB’s holdings in JPMorgan Chase & Co. were worth $99,972,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of JPM. Central Pacific Bank Trust Division boosted its position in shares of JPMorgan Chase & Co. by 0.4% during the third quarter. Central Pacific Bank Trust Division now owns 16,951 shares of the financial services provider’s stock worth $3,574,000 after buying an additional 61 shares during the period. Kades & Cheifetz LLC purchased a new stake in JPMorgan Chase & Co. during the 3rd quarter worth approximately $205,000. Trust Co of the South raised its stake in shares of JPMorgan Chase & Co. by 31.0% in the third quarter. Trust Co of the South now owns 6,486 shares of the financial services provider’s stock valued at $1,368,000 after acquiring an additional 1,534 shares in the last quarter. Trust Co. of Toledo NA OH raised its position in JPMorgan Chase & Co. by 0.3% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 101,833 shares of the financial services provider’s stock valued at $21,473,000 after purchasing an additional 280 shares in the last quarter. Finally, Weybosset Research & Management LLC acquired a new stake in JPMorgan Chase & Co. in the third quarter valued at approximately $211,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 0.1 %

Shares of JPM stock opened at $207.24 on Thursday. The stock’s 50 day simple moving average is $211.39 and its 200 day simple moving average is $202.88. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.48. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $595.12 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 2.39 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same period in the previous year, the company earned $4.37 earnings per share. As a group, research analysts predict that JPMorgan Chase & Co. will post 16.72 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a $1.25 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.89%.

Analysts Set New Price Targets

JPM has been the subject of several research analyst reports. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Oppenheimer increased their price target on JPMorgan Chase & Co. from $221.00 to $234.00 and gave the stock an “outperform” rating in a report on Wednesday. Piper Sandler increased their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Finally, Jefferies Financial Group increased their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $212.13.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.