JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,387 shares of the financial services provider’s stock after selling 4,032 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.5% of Sumitomo Life Insurance Co.’s investment portfolio, making the stock its 20th largest holding. Sumitomo Life Insurance Co.’s holdings in JPMorgan Chase & Co. were worth $25,023,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of JPMorgan Chase & Co. by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock worth $12,258,346,000 after buying an additional 505,830 shares during the period. Fisher Asset Management LLC increased its holdings in JPMorgan Chase & Co. by 31.7% in the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock worth $3,539,132,000 after acquiring an additional 4,043,841 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in JPMorgan Chase & Co. by 2.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock worth $3,180,806,000 after acquiring an additional 302,592 shares during the period. Franklin Resources Inc. grew its position in shares of JPMorgan Chase & Co. by 7.2% in the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after purchasing an additional 1,016,289 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter worth about $1,888,088,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $267.27 on Tuesday. The company has a market cap of $752.47 billion, a P/E ratio of 13.54, a PEG ratio of 2.87 and a beta of 1.12. JPMorgan Chase & Co. has a fifty-two week low of $172.62 and a fifty-two week high of $270.82. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The firm’s 50 day moving average price is $247.91 and its 200 day moving average price is $228.49.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same quarter last year, the company earned $3.04 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, research analysts forecast that JPMorgan Chase & Co. will post 17.82 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.33%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the transaction, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.79% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

JPM has been the subject of several research reports. Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Wells Fargo & Company upped their target price on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Daiwa Capital Markets dropped 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 note on Thursday, October 10th. Finally, Piper Sandler raised their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $251.78.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.