Sumitomo Life Insurance Co. Sells 764 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Sumitomo Life Insurance Co. decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,940 shares of the financial services provider’s stock after selling 764 shares during the period. JPMorgan Chase & Co. accounts for 0.3% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 26th largest position. Sumitomo Life Insurance Co.’s holdings in JPMorgan Chase & Co. were worth $9,175,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Macroview Investment Management LLC increased its position in shares of JPMorgan Chase & Co. by 7,833.3% during the third quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 235 shares in the last quarter. Briaud Financial Planning Inc bought a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $40,000. Morton Brown Family Wealth LLC increased its position in shares of JPMorgan Chase & Co. by 2,308.3% during the fourth quarter. Morton Brown Family Wealth LLC now owns 289 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 277 shares in the last quarter. FSC Wealth Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 290.9% during the third quarter. FSC Wealth Advisors LLC now owns 387 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 288 shares in the last quarter. Finally, Legacy Financial Group LLC bought a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $58,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 2.5 %

Shares of JPMorgan Chase & Co. stock opened at $185.80 on Friday. The company’s fifty day simple moving average is $188.83 and its 200-day simple moving average is $169.06. The stock has a market capitalization of $533.63 billion, a PE ratio of 11.22, a P/E/G ratio of 2.28 and a beta of 1.15. JPMorgan Chase & Co. has a 1-year low of $131.81 and a 1-year high of $200.94. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.91.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Thursday, April 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.78%.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Lori A. Beer sold 3,920 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 25th. The shares were sold at an average price of $195.36, for a total transaction of $765,811.20. Following the transaction, the insider now owns 64,783 shares in the company, valued at approximately $12,656,006.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Lori A. Beer sold 3,920 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 25th. The shares were sold at an average price of $195.36, for a total transaction of $765,811.20. Following the transaction, the insider now owns 64,783 shares in the company, valued at approximately $12,656,006.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James Dimon sold 821,778 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total transaction of $150,163,493.94. Following the transaction, the chief executive officer now owns 595,316 shares in the company, valued at approximately $108,782,092.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,020,696 shares of company stock worth $186,794,151. 0.79% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. Morgan Stanley cut their target price on shares of JPMorgan Chase & Co. from $221.00 to $216.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Bank of America lifted their target price on shares of JPMorgan Chase & Co. from $177.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Finally, Oppenheimer cut their target price on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a research report on Monday, April 15th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.05.

JPMorgan Chase & Co. Company 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 deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.