JPMorgan Chase & Co. $JPM is Dai ichi Life Insurance Company Ltd's 10th Largest Position

Key Points

• Dai-ichi Life Insurance reduced its JPMorgan stake by 10.8% in the first quarter, leaving it with 153,475 shares valued at approximately $45.1 million. JPMorgan remains the insurer’s 10th-largest holding and represents about 1.3% of its portfolio.
• JPMorgan reported quarterly earnings of $6.14 per share, exceeding the $5.59 analyst consensus, while revenue reached $58.02 billion and rose 27.7% year over year.
• The bank declared a quarterly dividend of $1.50 per share, equivalent to $6.00 annually and a 1.7% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $358.67.

Dai ichi Life Insurance Company Ltd cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 10.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,475 shares of the financial services provider's stock after selling 18,675 shares during the period. JPMorgan Chase & Co. comprises about 1.3% of Dai ichi Life Insurance Company Ltd's portfolio, making the stock its 10th biggest position. Dai ichi Life Insurance Company Ltd's holdings in JPMorgan Chase & Co. were worth $45,146,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in JPM. Timmons Wealth Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $27,000. MBM Wealth Consultants LLC acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $32,000. Turning Point Benefit Group Inc. acquired a new position in JPMorgan Chase & Co. during the 3rd quarter worth approximately $35,000. Finally, Osbon Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $356.15 on Tuesday. The stock's 50-day moving average is $324.84 and its two-hundred day moving average is $311.12. The firm has a market cap of $954.30 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.47 and a beta of 0.99. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $359.05. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, topping analysts' consensus estimates of $5.59 by $0.55. The business had revenue of $58.02 billion for the quarter, compared to analysts' expectations of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business's revenue was up 27.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.96 earnings per share. Analysts predict that JPMorgan Chase & Co. will post 23.97 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a $1.50 dividend. The ex-dividend date is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.7%. JPMorgan Chase & Co.'s payout ratio is currently 25.71%.

Insider Activity

In related news, CFO Jeremy Barnum sold 3,022 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the sale, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. This represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the sale, the general counsel owned 40,961 shares of the company's stock, valued at approximately $13,547,031.53. This represents a 11.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 18,876 shares of company stock valued at $5,907,051. 0.41% of the stock is currently owned by company insiders.

More JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: Strong earnings momentum: JPMorgan’s record second-quarter performance, including sharply higher earnings and revenue that exceeded analyst expectations, has reinforced investor confidence in its lending, trading and investment-banking operations. JPMorgan and Goldman Posted Record Quarters
• Positive Sentiment: Rising earnings estimates: Analysts are increasing their profit forecasts for JPMorgan, a trend that can support further near-term gains as investors reassess the bank’s earnings outlook. Earnings Estimates Rising for JPMorgan Chase
• Positive Sentiment: New payments opportunity: South Korea’s KB Kookmin Bank plans to use JPMorgan’s Kinexys blockchain for cross-border U.S.-dollar payments across 10 countries. The agreement highlights potential growth for JPMorgan’s institutional payments and digital-assets infrastructure. South Korea’s Largest Bank to Launch Payment Service on JPMorgan’s Kinexys
• Positive Sentiment: AI and efficiency appeal: Analysts continue to view JPMorgan favorably as it applies artificial intelligence to reduce costs and improve productivity, while maintaining strong cash generation and a diversified revenue base. These 3 AI Winners Don’t Sell the Tech—They Use It
• Neutral Sentiment: CEO Jamie Dimon’s account of his 2020 health crisis is personal and does not materially change JPMorgan’s current earnings or valuation outlook. Jamie Dimon Reveals the Moment He Knew It Might Be Goodbye
• Negative Sentiment: Risk warnings temper optimism: Dimon cautioned that investors may be underestimating geopolitical, fiscal and valuation risks. Rising consumer credit-card delinquencies and unusually volatile markets also represent potential pressure on future loan quality and results. Jamie Dimon Said Markets Are Underestimating Risks

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on JPM. Truist Financial raised their price objective on shares of JPMorgan Chase & Co. from $344.00 to $352.00 and gave the company a "hold" rating in a report on Wednesday, July 15th. HSBC increased their target price on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a "hold" rating in a report on Monday, May 4th. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. Robert W. Baird upped their price objective on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Finally, Bank of America raised their target price on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $358.67.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co NYSE: JPM is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm's principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

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