Sumitomo Mitsui DS Asset Management Company Ltd Has $229.12 Million Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Sumitomo Mitsui DS Asset Management trimmed its JPMorgan Chase position by 4.1% in the fourth quarter, selling 30,614 shares and leaving it with 711,055 shares worth about $229.1 million.
• Analysts remain mixed but generally constructive on JPMorgan, with a consensus rating of “Moderate Buy” and an average price target of $338.12 despite some recent target changes and one downgrade to hold.
• JPMorgan reported strong quarterly results, including EPS of $5.94 versus expectations of $5.50 and revenue of $50.54 billion, while also continuing to pay a quarterly dividend of $1.50 per share.

Sumitomo Mitsui DS Asset Management Company Ltd lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 4.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 711,055 shares of the financial services provider's stock after selling 30,614 shares during the period. JPMorgan Chase & Co. comprises approximately 1.8% of Sumitomo Mitsui DS Asset Management Company Ltd's holdings, making the stock its 10th largest position. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in JPMorgan Chase & Co. were worth $229,116,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in JPMorgan Chase & Co. by 1,094.2% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 173,319 shares of the financial services provider's stock worth $55,843,000 after buying an additional 158,806 shares during the period. Kingstone Capital Partners Texas LLC boosted its holdings in JPMorgan Chase & Co. by 0.5% in the 4th quarter. Kingstone Capital Partners Texas LLC now owns 9,929 shares of the financial services provider's stock worth $3,199,000 after buying an additional 47 shares during the period. SBI Securities Co. Ltd. boosted its holdings in JPMorgan Chase & Co. by 14.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 22,565 shares of the financial services provider's stock worth $7,271,000 after buying an additional 2,836 shares during the period. Liberty Atlantic Advisors LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter worth $288,000. Finally, Cresta Advisors Ltd. bought a new position in JPMorgan Chase & Co. in the 4th quarter worth $48,000. Institutional investors own 71.55% of the company's stock.

Wall Street Analyst Weigh In

JPM has been the topic of several research analyst reports. Argus boosted their price target on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a "buy" rating in a research note on Wednesday, April 15th. Wells Fargo & Company decreased their price target on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 17th. HSBC boosted their price target on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a "hold" rating in a research note on Monday, May 4th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Sunday, January 18th. Finally, DZ Bank reiterated a "neutral" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $338.12.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 433 shares of the company's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $295.06, for a total transaction of $127,760.98. Following the transaction, the insider directly owned 64,920 shares in the company, valued at approximately $19,155,295.20. This represents a 0.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 50,000 shares of the company's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $307.11, for a total transaction of $15,355,500.00. Following the transaction, the chief executive officer owned 111,279 shares in the company, valued at $34,174,893.69. The trade was a 31.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 79,849 shares of company stock worth $24,522,956 in the last three months. 0.41% of the stock is owned by insiders.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorganChase declared dividends on its Series II, OO and PP preferred stock, signaling continued capital return and financial stability. JPMorganChase Declares Preferred Stock Dividends
• Positive Sentiment: Reuters reported that JPMorgan’s long-running push into early-stage tech banking is paying off, with the firm now leading global technology investment banking and winning business from startup clients early in their growth cycle. JPMorgan's bet on early-stage companies pays off in leading global tech investment banking
• Positive Sentiment: Chase continued expanding its branch network, opening 18 new branches in May as part of a multibillion-dollar expansion, which supports deposit gathering and retail growth over time. Chase Opens 18 Branches in May Amid Multibillion-Dollar Expansion

JPMorgan Chase & Co. Stock Down 0.7%

Shares of NYSE JPM opened at $297.93 on Friday. The firm's 50-day moving average price is $299.67 and its 200-day moving average price is $307.32. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $798.31 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 1.46 and a beta of 1.03. JPMorgan Chase & Co. has a 12-month low of $256.00 and a 12-month high of $337.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating the consensus estimate of $5.50 by $0.44. The company had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm's revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.07 EPS. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 22.42 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.0%. The ex-dividend date was Monday, April 6th. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.74%.

JPMorgan Chase & Co. 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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.