Xact Kapitalforvaltning AB Acquires 27,411 Shares of JPMorgan Chase & Co. (JPM)

Xact Kapitalforvaltning AB lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 684,552 shares of the financial services provider’s stock after buying an additional 27,411 shares during the period. JPMorgan Chase & Co. comprises 1.7% of Xact Kapitalforvaltning AB’s investment portfolio, making the stock its 5th biggest holding. Xact Kapitalforvaltning AB’s holdings in JPMorgan Chase & Co. were worth $75,280,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Elite Wealth Management Inc. grew its holdings in shares of JPMorgan Chase & Co. by 4.1% in the 1st quarter. Elite Wealth Management Inc. now owns 17,891 shares of the financial services provider’s stock worth $1,967,000 after acquiring an additional 701 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of JPMorgan Chase & Co. by 7.1% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 808,379 shares of the financial services provider’s stock worth $88,897,000 after acquiring an additional 53,442 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 2.7% in the 1st quarter. Nuveen Asset Management LLC now owns 1,124,172 shares of the financial services provider’s stock worth $123,625,000 after acquiring an additional 29,540 shares during the period. ING Groep NV grew its holdings in shares of JPMorgan Chase & Co. by 1.5% in the 4th quarter. ING Groep NV now owns 484,403 shares of the financial services provider’s stock worth $51,802,000 after acquiring an additional 7,393 shares during the period. Finally, Wealthfront Inc. grew its holdings in shares of JPMorgan Chase & Co. by 14.2% in the 4th quarter. Wealthfront Inc. now owns 139,214 shares of the financial services provider’s stock worth $14,888,000 after acquiring an additional 17,288 shares during the period. 70.70% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Gordon Smith sold 30,725 shares of the firm’s stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $114.01, for a total transaction of $3,502,957.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.73% of the stock is currently owned by corporate insiders.

NYSE:JPM traded up $0.41 during trading hours on Friday, reaching $114.51. 69,595 shares of the company traded hands, compared to its average volume of 9,552,381. The stock has a market cap of $393.27 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.88 and a beta of 1.16. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.01 and a current ratio of 1.01. JPMorgan Chase & Co. has a 1-year low of $88.08 and a 1-year high of $119.33.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 13th. The financial services provider reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.07. The firm had revenue of $27.75 billion for the quarter, compared to analysts’ expectations of $27.62 billion. JPMorgan Chase & Co. had a return on equity of 13.18% and a net margin of 22.80%. equities research analysts predict that JPMorgan Chase & Co. will post 9.15 earnings per share for the current fiscal year.

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods restated a “$111.53” rating and issued a $127.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, July 18th. BMO Capital Markets upped their price target on JPMorgan Chase & Co. from $110.00 to $118.00 and gave the stock a “market perform” rating in a report on Monday, July 16th. Royal Bank of Canada restated a “buy” rating and issued a $120.00 price target on shares of JPMorgan Chase & Co. in a report on Monday, July 16th. Goldman Sachs Group set a $128.00 price target on JPMorgan Chase & Co. and gave the stock a “neutral” rating in a report on Monday, July 23rd. Finally, UBS Group upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $120.23.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

Further Reading: Book Value Per Share – BVPS

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

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