DNB Asset Management AS Purchases 35,914 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by on Mar 21st, 2023

DNB Asset Management AS lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 745,255 shares of the financial services provider’s stock after buying an additional 35,914 shares during the period. JPMorgan Chase & Co. comprises 0.7% of DNB Asset Management AS’s portfolio, making the stock its 25th largest holding. DNB Asset Management AS’s holdings in JPMorgan Chase & Co. were worth $99,939,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in JPM. Price T Rowe Associates Inc. MD lifted its stake in shares of JPMorgan Chase & Co. by 23.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 31,667,210 shares of the financial services provider’s stock worth $3,566,044,000 after buying an additional 5,978,393 shares in the last quarter. Public Investment Fund bought a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $433,667,000. Barclays PLC lifted its position in JPMorgan Chase & Co. by 77.8% during the third quarter. Barclays PLC now owns 8,071,119 shares of the financial services provider’s stock valued at $843,433,000 after purchasing an additional 3,531,637 shares during the period. Franklin Resources Inc. lifted its position in JPMorgan Chase & Co. by 21.1% during the second quarter. Franklin Resources Inc. now owns 19,739,048 shares of the financial services provider’s stock valued at $2,222,815,000 after purchasing an additional 3,435,522 shares during the period. Finally, Vanguard Group Inc. lifted its position in JPMorgan Chase & Co. by 1.1% during the third quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock valued at $28,480,408,000 after purchasing an additional 2,918,554 shares during the period. Institutional investors own 67.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on JPM. Citigroup increased their price objective on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a research report on Tuesday, January 17th. Morgan Stanley increased their price objective on shares of JPMorgan Chase & Co. from $167.00 to $173.00 and gave the company an “overweight” rating in a research report on Friday, February 24th. Credit Suisse Group set a $155.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, February 27th. Deutsche Bank Aktiengesellschaft cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and reduced their target price for the company from $155.00 to $145.00 in a report on Friday, January 6th. Finally, Oppenheimer lifted their price target on shares of JPMorgan Chase & Co. from $177.00 to $186.00 and gave the stock an “outperform” rating in a research note on Thursday, February 2nd. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $150.78.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Mellody L. Hobson purchased 375 shares of the stock in a transaction that occurred on Thursday, January 19th. The shares were bought at an average cost of $134.53 per share, with a total value of $50,448.75. Following the acquisition, the director now owns 22,040 shares in the company, valued at $2,965,041.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Vice Chairman Peter Scher sold 4,399 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $140.32, for a total transaction of $617,267.68. Following the sale, the insider now directly owns 36,369 shares of the company’s stock, valued at approximately $5,103,298.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mellody L. Hobson acquired 375 shares of the firm’s stock in a transaction dated Thursday, January 19th. The shares were purchased at an average cost of $134.53 per share, for a total transaction of $50,448.75. Following the completion of the acquisition, the director now directly owns 22,040 shares in the company, valued at $2,965,041.20. The disclosure for this purchase can be found here. In the last three months, insiders have sold 37,887 shares of company stock valued at $5,315,762. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.1 %

Shares of NYSE:JPM opened at $127.14 on Tuesday. The stock has a 50 day moving average of $138.86 and a 200 day moving average of $129.51. The company has a market cap of $374.22 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.12. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $144.34.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted its quarterly earnings results on Friday, January 13th. The financial services provider reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.46. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The company had revenue of $34.55 billion for the quarter, compared to analysts’ expectations of $34.23 billion. During the same period in the previous year, the firm earned $3.33 EPS. The firm’s revenue was up 18.1% compared to the same quarter last year. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 12.9 EPS for the current year.

JPMorgan Chase & Co. Profile

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JPMorgan Chase & Co is a financial holding company, which engages in providing financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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