Norges Bank Takes $11.40 Billion Position in JPMorgan Chase & Co. $JPM

Norges Bank bought a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the 4th quarter, Holdings Channel reports. The firm bought 35,368,681 shares of the financial services provider’s stock, valued at approximately $11,396,496,000. JPMorgan Chase & Co. accounts for about 1.2% of Norges Bank’s investment portfolio, making the stock its 12th largest holding.

Several other hedge funds also recently made changes to their positions in JPM. Brighton Jones LLC increased its holdings in shares of JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after purchasing an additional 4,841 shares during the period. Acorns Advisers LLC grew its stake in shares of JPMorgan Chase & Co. by 6.9% during the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after buying an additional 100 shares during the last quarter. Ignite Planners LLC grew its stake in shares of JPMorgan Chase & Co. by 0.7% during the second quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider’s stock worth $3,185,000 after buying an additional 78 shares during the last quarter. Jump Financial LLC bought a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $1,475,000. Finally, Betterment LLC grew its stake in shares of JPMorgan Chase & Co. by 27.5% during the second quarter. Betterment LLC now owns 1,970 shares of the financial services provider’s stock worth $571,000 after buying an additional 425 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 433 shares of the company’s stock in a transaction that occurred 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 sale, the insider directly owned 64,920 shares in the company, valued at approximately $19,155,295.20. This represents a 0.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jennifer Piepszak sold 4,919 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the sale, the chief operating officer owned 85,082 shares in the company, valued at $26,326,072.44. The trade was a 5.47% 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. Over the last 90 days, insiders have sold 28,589 shares of company stock valued at $8,747,496. 0.41% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $312.95 on Monday. The stock has a market capitalization of $838.54 billion, a P/E ratio of 14.99, a PEG ratio of 1.52 and a beta of 1.00. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The firm’s 50 day moving average is $303.89 and its 200 day moving average is $306.53. JPMorgan Chase & Co. has a 12 month low of $262.71 and a 12 month high of $337.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results 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. The company had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. JPMorgan Chase & Co.’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company posted $5.07 EPS. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared 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 dividend yield of 1.9%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.74%.

Analyst Ratings Changes

Several brokerages recently weighed in on JPM. Autonomous Res reduced their price objective on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a research note on Monday, April 6th. Evercore upped their price objective on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Dbs Bank upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, May 12th. Jefferies Financial Group reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Finally, HSBC boosted their target price on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $339.08.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: Jamie Dimon is personally helping pitch SpaceX’s blockbuster IPO to thousands of JPMorgan’s wealthy clients, highlighting the bank’s influence in capital markets and potentially boosting fee income. Reuters article on Dimon and SpaceX IPO roadshow
• Positive Sentiment: The bank is backing a shared tokenized deposit network with other major U.S. lenders, a move that could strengthen JPMorgan’s payments and digital-asset infrastructure position versus stablecoin rivals. WSJ article on tokenized deposit system
• Positive Sentiment: Jim Cramer publicly called JPMorgan “the best bank in the world” and said investors can “buy it and put it away,” reinforcing a constructive market view of the stock. Yahoo Finance article on Jim Cramer
• Neutral Sentiment: News that JPMorgan is using its branch network and client base to promote SpaceX underscores its scale and wealth-management reach, but the impact on near-term earnings is uncertain. Benzinga article on SpaceX IPO promotion
• Neutral Sentiment: Separate headlines noted JPMorgan is evaluating acquisition opportunities and may have $10 billion to $20 billion available for a deal, which could be accretive but also adds execution risk. Yahoo Finance article on acquisition opportunities
• Negative Sentiment: JPMorgan also warned that the crypto industry’s CLARITY Act has a narrowing path to passage, which could slow regulatory progress for digital-asset businesses. Benzinga article on CLARITY Act timing

JPMorgan Chase & Co. Company Profile

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.