34,670,579 Shares in JPMorgan Chase & Co. (NYSE:JPM) Purchased by Norges Bank

Norges Bank purchased a new position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 34,670,579 shares of the financial services provider's stock, valued at approximately $8,310,884,000. JPMorgan Chase & Co. comprises about 1.1% of Norges Bank's investment portfolio, making the stock its 11th biggest holding. Norges Bank owned 1.23% of JPMorgan Chase & Co. as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider's stock worth $12,258,346,000 after purchasing an additional 505,830 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of JPMorgan Chase & Co. by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,103,063 shares of the financial services provider's stock valued at $4,818,905,000 after buying an additional 71,122 shares during the last quarter. Fisher Asset Management LLC increased its holdings in JPMorgan Chase & Co. by 3.7% in the 4th quarter. Fisher Asset Management LLC now owns 17,401,436 shares of the financial services provider's stock worth $4,171,298,000 after buying an additional 617,164 shares in the last quarter. Franklin Resources Inc. raised its position in JPMorgan Chase & Co. by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider's stock worth $3,338,955,000 after buying an additional 1,016,289 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in JPMorgan Chase & Co. by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider's stock valued at $1,228,110,000 after acquiring an additional 182,648 shares during the period. Institutional investors own 71.55% of the company's stock.

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JPMorgan Chase & Co. Price Performance

JPM traded up $2.44 during trading on Wednesday, hitting $246.10. 7,726,552 shares of the company traded hands, compared to its average volume of 9,366,502. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The company has a market cap of $688.12 billion, a PE ratio of 12.47, a P/E/G ratio of 2.83 and a beta of 1.10. The stock's 50-day simple moving average is $256.88 and its two-hundred day simple moving average is $241.33. JPMorgan Chase & Co. has a 1 year low of $179.20 and a 1 year high of $280.25.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced 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. The ex-dividend date is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.28%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.37%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the sale, the insider now directly owns 49,127 shares of the company's stock, valued at $12,130,438.84. The trade was a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were 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 directly owns 158,381 shares of the company's stock, valued at $42,737,529.04. The trade was a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,848 shares of company stock worth $19,987,908 in the last three months. Insiders own 0.79% of the company's stock.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of research analyst reports. Evercore ISI reduced their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a research note on Tuesday. UBS Group lifted their target price on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Baird R W raised JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. Wolfe Research upgraded JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 price target on the stock in a research note on Friday, January 3rd. Finally, Bank of America lowered their target price on JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating on the stock in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $255.06.

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.