Sumitomo Life Insurance Co. Raises Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Sumitomo Life Insurance Co. increased its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,260 shares of the financial services provider's stock after buying an additional 873 shares during the period. JPMorgan Chase & Co. comprises about 0.9% of Sumitomo Life Insurance Co.'s investment portfolio, making the stock its 15th largest position. Sumitomo Life Insurance Co.'s holdings in JPMorgan Chase & Co. were worth $25,820,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Redwood Park Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $29,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth $33,000. Sellwood Investment Partners LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $34,000. Investment Counsel Co. of Nevada bought a new position in JPMorgan Chase & Co. during the fourth quarter worth about $37,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at approximately $43,000. Institutional investors own 71.55% of the company's stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the transaction, the director directly owned 91,539 shares in the company, valued at approximately $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Stacey Friedman sold 2,821 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the sale, the general counsel directly owned 68,757 shares of the company's stock, valued at approximately $18,269,422.47. The trade was a 3.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock valued at $18,060,015 over the last ninety days. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Price Performance

JPM stock traded up $2.72 on Thursday, hitting $299.48. 1,815,146 shares of the company's stock traded hands, compared to its average volume of 10,139,948. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $299.59. The stock has a fifty day moving average of $276.47 and a 200-day moving average of $258.99. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. The stock has a market cap of $832.28 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 1.99 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the prior year, the firm earned $6.12 EPS. The business's revenue was down 10.5% on a year-over-year basis. On average, analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.87%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on JPM. TD Cowen initiated coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a "buy" rating and a $305.00 target price for the company. Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. HSBC restated a "reduce" rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Finally, Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a research note on Friday, June 27th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has given a strong 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 $288.68.

JPMorgan Chase & Co. Company 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.