Forsta AP Fonden Buys 67,900 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Forsta AP Fonden increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 10.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 741,400 shares of the financial services provider’s stock after acquiring an additional 67,900 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.2% of Forsta AP Fonden’s portfolio, making the stock its 12th biggest position. Forsta AP Fonden’s holdings in JPMorgan Chase & Co. were worth $156,332,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in JPM. International Assets Investment Management LLC acquired a new position in JPMorgan Chase & Co. during the third quarter worth $1,888,088,000. Swedbank AB bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $800,130,000. Capital Research Global Investors grew its position in shares of JPMorgan Chase & Co. by 23.3% in the 1st quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after acquiring an additional 3,252,451 shares during the period. Wulff Hansen & CO. grew its position in shares of JPMorgan Chase & Co. by 19,920.7% in the 2nd quarter. Wulff Hansen & CO. now owns 2,801,503 shares of the financial services provider’s stock valued at $566,632,000 after acquiring an additional 2,787,510 shares during the period. Finally, Granite Bay Wealth Management LLC grew its position in shares of JPMorgan Chase & Co. by 6,239.1% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 1,418,572 shares of the financial services provider’s stock valued at $277,456,000 after acquiring an additional 1,396,194 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the subject of a number of analyst reports. Daiwa Capital Markets decreased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Oppenheimer decreased their price objective on shares of JPMorgan Chase & Co. from $234.00 to $232.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $217.94.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $222.90 on Wednesday. The firm has a 50 day moving average of $215.76 and a 200-day moving average of $206.02. The stock has a market capitalization of $640.09 billion, a PE ratio of 12.43, a PEG ratio of 3.28 and a beta of 1.11. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12 month low of $136.04 and a 12 month high of $226.75.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.33 EPS. On average, equities research analysts predict that JPMorgan Chase & Co. will post 16.75 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.24%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.89%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.