Sumitomo Life Insurance Co. Lowers Stake in JPMorgan Chase & Co. (NYSE:JPM)

Sumitomo Life Insurance Co. cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 104,387 shares of the financial services provider’s stock after selling 4,032 shares during the period. JPMorgan Chase & Co. accounts for about 0.5% of Sumitomo Life Insurance Co.’s holdings, making the stock its 20th biggest position. Sumitomo Life Insurance Co.’s holdings in JPMorgan Chase & Co. were worth $25,023,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Mizuho Securities Co. Ltd. purchased a new position in JPMorgan Chase & Co. during the third quarter worth approximately $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $27,000. West Financial Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $37,000. New England Capital Financial Advisors LLC increased its position in JPMorgan Chase & Co. by 38.5% during the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 50 shares in the last quarter. Finally, Carolina Wealth Advisors LLC raised its holdings in JPMorgan Chase & Co. by 36.0% in the third quarter. Carolina Wealth Advisors LLC now owns 189 shares of the financial services provider’s stock valued at $40,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on JPM. Piper Sandler raised their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price for the company. in a research note on Thursday, November 7th. Daiwa Capital Markets cut their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Finally, Bank of America raised their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $251.78.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $267.27 on Tuesday. The company has a 50-day moving average price of $247.91 and a two-hundred day moving average price of $228.49. JPMorgan Chase & Co. has a 52 week low of $172.62 and a 52 week high of $270.82. The stock has a market cap of $752.47 billion, a price-to-earnings ratio of 13.54, a price-to-earnings-growth ratio of 2.87 and a beta of 1.12. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping 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 business had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. During the same period in the prior year, the company posted $3.04 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. Analysts forecast that JPMorgan Chase & Co. will post 17.82 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

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

Insider Activity at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the transaction, the general counsel now directly owns 47,620 shares in the company, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.79% of the stock is currently owned by insiders.

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.