JPMorgan Chase & Co. (NYSE:JPM) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS boosted its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 12.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,008,419 shares of the financial services provider's stock after purchasing an additional 115,406 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.0% of DnB Asset Management AS's investment portfolio, making the stock its 16th largest holding. DnB Asset Management AS's holdings in JPMorgan Chase & Co. were worth $241,728,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Sellwood Investment Partners LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth $34,000. Midwest Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $43,000. Collier Financial purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $45,000. Lowe Wealth Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 34.0% during the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 51 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $50,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the sale, the chief executive officer now owns 158,381 shares of the company's stock, valued at approximately $42,737,529.04. This trade represents a 19.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robin Leopold sold 1,250 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $246.92, for a total value of $308,650.00. Following the transaction, the insider now directly owns 49,127 shares in the company, valued at $12,130,438.84. This trade represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 76,848 shares of company stock worth $19,987,908. Corporate insiders own 0.79% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on JPM shares. Baird R W raised shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. Robert W. Baird raised JPMorgan Chase & Co. from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $215.00 to $220.00 in a report on Friday, March 7th. Evercore ISI reduced their price objective on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a research note on Tuesday. Wolfe Research upgraded JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 target price on the stock in a research report on Friday, January 3rd. Finally, Bank of America reduced their price target on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating for the company in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $255.06.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock traded up $2.44 during trading hours on Wednesday, hitting $246.10. 7,726,552 shares of the company's stock were exchanged, compared to its average volume of 9,366,502. JPMorgan Chase & Co. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25. The firm has a market cap of $688.12 billion, a P/E ratio of 12.47, a P/E/G ratio of 2.83 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The firm has a 50 day moving average of $256.88 and a two-hundred day moving average of $241.33.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping analysts' consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company had revenue of $42.77 billion during the quarter, compared to analysts' expectations of $41.90 billion. During the same period in the prior year, the business posted $3.04 earnings per share. The firm's revenue for the quarter was up 10.9% on a year-over-year basis. Sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.28%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.'s payout ratio is presently 28.37%.

JPMorgan Chase & Co. 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.