Nordea Investment Management AB Sells 10,810 Shares of JPMorgan Chase & Co. $JPM

Nordea Investment Management AB lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,204,332 shares of the financial services provider’s stock after selling 10,810 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.9% of Nordea Investment Management AB’s portfolio, making the stock its 19th biggest holding. Nordea Investment Management AB owned 0.12% of JPMorgan Chase & Co. worth $931,980,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in JPM. Brighton Jones LLC lifted its stake in JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after purchasing an additional 4,841 shares in the last quarter. Ironwood Wealth Management LLC. lifted its stake in JPMorgan Chase & Co. by 0.7% in the 1st quarter. Ironwood Wealth Management LLC. now owns 15,400 shares of the financial services provider’s stock worth $3,778,000 after purchasing an additional 107 shares in the last quarter. Acorns Advisers LLC lifted its stake in JPMorgan Chase & Co. by 6.9% in the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 100 shares in the last quarter. Hi Line Capital Management LLC lifted its stake in JPMorgan Chase & Co. by 2.2% in the 1st quarter. Hi Line Capital Management LLC now owns 28,531 shares of the financial services provider’s stock worth $6,999,000 after purchasing an additional 601 shares in the last quarter. Finally, Navis Wealth Advisors LLC lifted its stake in JPMorgan Chase & Co. by 94.2% in the 1st quarter. Navis Wealth Advisors LLC now owns 4,652 shares of the financial services provider’s stock worth $1,141,000 after purchasing an additional 2,256 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.9%

JPM stock opened at $300.27 on Monday. The company has a market capitalization of $825.66 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $318.01. The company’s 50 day moving average price is $303.43 and its two-hundred day moving average price is $281.89. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company had revenue of $46.43 billion for the quarter, compared to analyst estimates of $44.42 billion. During the same quarter last year, the firm earned $4.37 EPS. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, analysts predict 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 Friday, October 31st. Investors of record on Monday, October 6th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on JPM. Bank of America increased their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Zacks Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Evercore ISI lifted their target price on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Finally, Weiss Ratings upgraded shares of JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Saturday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $322.27.

JPMorgan Chase & Co. Company 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.