Sumitomo Life Insurance Co. grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 22.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,029 shares of the financial services provider’s stock after purchasing an additional 11,460 shares during the quarter. JPMorgan Chase & Co. comprises about 0.2% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 17th biggest position. Sumitomo Life Insurance Co.’s holdings in JPMorgan Chase & Co. were worth $8,592,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Carolina Wealth Advisors LLC raised its stake in JPMorgan Chase & Co. by 176.5% during the 4th quarter. Carolina Wealth Advisors LLC now owns 235 shares of the financial services provider’s stock worth $37,000 after buying an additional 150 shares during the period. Landmark Wealth Management LLC acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth approximately $46,000. Evolution Advisers Inc. acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $52,000. Leverty Financial Group LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $54,000. Finally, Delos Wealth Advisors LLC raised its stake in JPMorgan Chase & Co. by 13,433.3% during the 4th quarter. Delos Wealth Advisors LLC now owns 406 shares of the financial services provider’s stock worth $64,000 after buying an additional 403 shares during the period. 70.35% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have commented on the company. Piper Sandler decreased their price objective on JPMorgan Chase & Co. from $170.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, July 1st. Barclays decreased their price objective on JPMorgan Chase & Co. from $200.00 to $162.00 and set an “overweight” rating for the company in a report on Friday. Societe Generale raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $150.00 in a report on Tuesday, May 24th. Royal Bank of Canada decreased their price objective on JPMorgan Chase & Co. to $130.00 in a report on Thursday. Finally, Credit Suisse Group decreased their price objective on JPMorgan Chase & Co. from $160.00 to $145.00 and set an “outperform” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $143.95.
Insiders Place Their Bets
In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 21,012 shares of the stock in a transaction on Tuesday, April 19th. The stock was sold at an average price of $130.04, for a total transaction of $2,732,400.48. Following the sale, the insider now owns 178,588 shares in the company, valued at $23,223,583.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Price Performance
Shares of NYSE JPM opened at $112.95 on Friday. The stock has a fifty day simple moving average of $119.34 and a two-hundred day simple moving average of $134.34. JPMorgan Chase & Co. has a 1-year low of $106.06 and a 1-year high of $172.96. The firm has a market cap of $331.74 billion, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 1.91 and a beta of 1.15. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.14.
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings data on Thursday, July 14th. The financial services provider reported $2.76 earnings per share for the quarter, meeting the consensus estimate of $2.76. JPMorgan Chase & Co. had a return on equity of 15.29% and a net margin of 30.41%. The business had revenue of $30.72 billion during the quarter, compared to analyst estimates of $31.82 billion. During the same period in the prior year, the company earned $3.78 earnings per share. JPMorgan Chase & Co.’s revenue was up .8% compared to the same quarter last year. Analysts anticipate that JPMorgan Chase & Co. will post 11.3 earnings per share for the current year.
JPMorgan Chase & Co. Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, July 31st. Shareholders of record on Wednesday, July 6th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.54%. The ex-dividend date is Tuesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 32.10%.
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 s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.
Further Reading
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