3. JPMorgan Chase & Co. (NYSE:JPM)
Stake Value of Odey Asset Management Group: $7,557,000
Percentage of Odey Asset Management Group’s 13F Portfolio: 2.01%
Number of Hedge Fund Holders: 101
Dividend Yield as of January 5: 2.38%
On January 3, 2022, Barclays analyst Jason Goldberg raised his price target on JPMorgan Chase & Co. (NYSE:JPM) to $202 from $193 and kept an Overweight rating on the shares. The analyst anticipates bank stocks to continue to outperform the market in 2022.
On December 14, 2021, JPMorgan Chase & Co. (NYSE:JPM) declared a quarterly cash dividend of $1.00 per share of the company’s common stock. The common stock cash dividend is payable on January 31, for shareholders of record on January 6.
By the end of the third quarter of 2021, 101 hedge funds held stakes in JPMorgan Chase & Co. (NYSE:JPM) worth in excess of $5.63 billion. Of these 101 funds, Mr. Odey’s fund had stakes in the company worth $7.55 million which accounted for 2.01% of Odey Asset Management’s 13F portfolio. This is compared to 108 positions in the second quarter of 2021, with stakes worth $4.92 billion.
Vltava Fund, an investment management firm, published its third-quarter 2021 investor letter in which it mentioned JPMorgan Chase & Co. (NYSE:JPM). Here’s what Vltava Fund had to say:
“While all the previous names could be categorised as founder, continuing, or key shareholders, these last two names fall into the category of hired professional managers. This is actually the most numerous category among the bosses of large companies, but even among them there exist a number of individuals with exceptional long-term track records. In our view, these include also Jamie Dimon and Herman Gref.
We consider JP Morgan to be the strongest, largest, and most profitable bank in the world. It has not always been so, and the fact that it is what it is today can be attributed especially to its CEO Jamie Dimon. Dimon has spent his entire career in banking. He came to JP Morgan in a roundabout way in 2004 after the bank bought Bank One, of which he was CEO at the time. Since early 2006, Dimon has been CEO of the entire JP Morgan.
The quality and strength of JP Morgan under his leadership became fully apparent for the first time in 2008. Not only did JP Morgan help to stabilise the market by taking over the failing Bear Stearns in the spring of that year, but it was the only major US bank that did not require government assistance throughout the Great Financial Crisis and that was highly profitable even in the difficult year of 2008. Today, JP Morgan is even bigger, even more profitable, and even stronger than ever before. Many investors view banks with disdain, but a good bank with good management can be a very good long-term investment. From the time of its merger with Bank One in 2004 through the end of 2020, JP Morgan’s stock has outperformed even the S&P 500 index. The bank has earned a total net profit of USD 330 billion during this period, of which USD 232 billion has been paid out to shareholders in dividends and in share buybacks. I can recommend two books about Jamie Dimon: The House of Dimon and Last Man Standing.”
