JPMorgan Chase & Co. (NYSE:JPM) Shares Purchased by Ilmarinen Mutual Pension Insurance Co

Posted by Defense World Staff on Sep 13th, 2023

Ilmarinen Mutual Pension Insurance Co boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 31.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 325,869 shares of the financial services provider’s stock after buying an additional 78,000 shares during the quarter. JPMorgan Chase & Co. accounts for 0.6% of Ilmarinen Mutual Pension Insurance Co’s investment portfolio, making the stock its 16th largest position. Ilmarinen Mutual Pension Insurance Co’s holdings in JPMorgan Chase & Co. were worth $42,464,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in JPM. Moneta Group Investment Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 105,652.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after purchasing an additional 97,907,897 shares during the last quarter. Morgan Stanley increased its position in shares of JPMorgan Chase & Co. by 15.9% in the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock valued at $7,918,506,000 after purchasing an additional 8,088,433 shares during the last quarter. Geode Capital Management LLC increased its position in shares of JPMorgan Chase & Co. by 2.1% in the 1st quarter. Geode Capital Management LLC now owns 52,310,456 shares of the financial services provider’s stock valued at $6,801,125,000 after purchasing an additional 1,061,831 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of JPMorgan Chase & Co. by 7.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,769,523 shares of the financial services provider’s stock valued at $4,270,198,000 after purchasing an additional 2,285,429 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $3,894,646,000. 68.94% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Up 1.3 %

JPM stock opened at $146.34 on Wednesday. JPMorgan Chase & Co. has a one year low of $101.28 and a one year high of $159.38. The stock has a market capitalization of $425.28 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 1.84 and a beta of 1.11. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.90 and a current ratio of 0.90. The company has a fifty day moving average of $150.63 and a 200-day moving average of $141.47.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its earnings results on Friday, July 14th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $3.62 by $0.75. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. The company had revenue of $42.40 billion during the quarter, compared to analysts’ expectations of $38.66 billion. During the same quarter last year, the business earned $2.76 EPS. The business’s revenue was up 34.1% on a year-over-year basis. As a group, analysts expect that JPMorgan Chase & Co. will post 15.58 EPS for the current year.

Insider Activity at JPMorgan Chase & Co.

In related news, Vice Chairman Peter Scher sold 2,482 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $141.39, for a total value of $350,929.98. Following the completion of the sale, the insider now owns 41,333 shares in the company, valued at $5,844,072.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Vice Chairman Peter Scher sold 2,482 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $141.39, for a total value of $350,929.98. Following the completion of the sale, the insider now owns 41,333 shares in the company, valued at $5,844,072.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas B. Petno sold 4,930 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $142.16, for a total transaction of $700,848.80. Following the transaction, the chief executive officer now owns 277,161 shares of the company’s stock, valued at $39,401,207.76. The disclosure for this sale can be found here. Insiders sold 16,032 shares of company stock worth $2,353,485 over the last 90 days. Company insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Jefferies Financial Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and increased their price objective for the company from $149.00 to $165.00 in a research report on Tuesday, July 11th. Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $158.00 to $168.00 in a research report on Monday, July 17th. Citigroup downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research report on Wednesday, July 12th. Societe Generale downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Finally, Barclays increased their target price on shares of JPMorgan Chase & Co. from $179.00 to $182.00 in a research report on Sunday, July 16th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.21.

Read Our Latest Stock Analysis on JPM

About JPMorgan Chase & Co.

(Free Report)

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.