Sumitomo Life Insurance Co. Has $29.65 Million Stake in JPMorgan Chase & Co. $JPM

Sumitomo Life Insurance Co. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,272 shares of the financial services provider’s stock after selling 2,988 shares during the period. JPMorgan Chase & Co. makes up approximately 2.0% of Sumitomo Life Insurance Co.’s investment portfolio, making the stock its 11th biggest position. Sumitomo Life Insurance Co.’s holdings in JPMorgan Chase & Co. were worth $29,650,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.4% during the 2nd quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider’s stock worth $2,290,000 after purchasing an additional 35 shares in the last quarter. Cottonwood Capital Advisors LLC raised its stake in JPMorgan Chase & Co. by 0.9% in the second quarter. Cottonwood Capital Advisors LLC now owns 3,837 shares of the financial services provider’s stock valued at $1,112,000 after purchasing an additional 35 shares in the last quarter. Coign Capital Advisors LLC lifted its position in JPMorgan Chase & Co. by 1.2% during the second quarter. Coign Capital Advisors LLC now owns 2,854 shares of the financial services provider’s stock worth $827,000 after purchasing an additional 35 shares during the period. LCM Capital Management Inc grew its stake in JPMorgan Chase & Co. by 0.9% during the second quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock worth $1,115,000 after buying an additional 36 shares in the last quarter. Finally, jvl associates llc increased its holdings in JPMorgan Chase & Co. by 1.7% in the 2nd quarter. jvl associates llc now owns 2,094 shares of the financial services provider’s stock valued at $607,000 after buying an additional 36 shares during the period. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on JPM shares. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, October 21st. Piper Sandler restated an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Citigroup boosted their price target on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Finally, Wolfe Research raised their price objective on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average target price of $326.38.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director directly owned 82,207 shares of the company’s stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robin Leopold sold 966 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $311.92, for a total transaction of $301,314.72. Following the completion of the transaction, the insider owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Trading Down 0.4%

NYSE JPM opened at $315.52 on Wednesday. The company has a market cap of $858.92 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $319.55. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The business’s fifty day moving average is $306.81 and its 200 day moving average is $288.62.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same period last year, the company earned $4.37 earnings per share. The business’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were issued a $1.50 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.72%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.