JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 6.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,756,283 shares of the financial services provider’s stock after selling 495,568 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.0% of Sumitomo Mitsui Trust Holdings Inc.’s portfolio, making the stock its 11th biggest position. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.24% of JPMorgan Chase & Co. worth $1,366,526,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of JPM. Stone House Investment Management LLC increased its stake in shares of JPMorgan Chase & Co. by 132.8% during the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 89 shares during the period. Retirement Group LLC lifted its holdings in shares of JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares during the period. Richardson Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth $34,000. Davidson Capital Management Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $37,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $40,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on JPM. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Piper Sandler upped their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $211.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Evercore ISI raised their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Jefferies Financial Group increased their price target on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.71.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Lori A. Beer sold 5,298 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.64, for a total value of $1,062,990.72. Following the transaction, the insider now directly owns 46,375 shares of the company’s stock, valued at approximately $9,304,680. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other JPMorgan Chase & Co. news, insider Lori A. Beer sold 5,298 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.64, for a total transaction of $1,062,990.72. Following the sale, the insider now owns 46,375 shares in the company, valued at $9,304,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $199.54, for a total value of $1,014,860.44. Following the completion of the transaction, the insider now owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The disclosure for this sale can be found here. Insiders sold a total of 14,799 shares of company stock valued at $2,963,721 in the last ninety days. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.1 %

Shares of JPM stock traded up $2.42 during mid-day trading on Friday, reaching $213.97. The company’s stock had a trading volume of 7,931,234 shares, compared to its average volume of 9,221,095. The company’s 50 day simple moving average is $204.67 and its 200-day simple moving average is $195.56. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $217.56. The firm has a market capitalization of $614.45 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter in the prior year, the business earned $4.37 earnings per share. On average, research analysts predict that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th were issued a $1.15 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a yield of 2.15%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.66%.

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.