Sumitomo Mitsui DS Asset Management Company Ltd Raises Stock Position in JPMorgan Chase & Co. $JPM

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 719,163 shares of the financial services provider's stock after purchasing an additional 27,106 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.9% of Sumitomo Mitsui DS Asset Management Company Ltd's holdings, making the stock its 6th biggest holding. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in JPMorgan Chase & Co. were worth $208,493,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of JPM. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $28,000. University of Illinois Foundation bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $30,000. Curat Global LLC bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $33,000. Christopher J. Hasenberg Inc boosted its stake in shares of JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 106 shares during the last quarter. Finally, Capital A Wealth Management LLC bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $64,000. Institutional investors own 71.55% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target on the stock. in a research report on Friday, June 27th. Truist Financial increased their price target on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Bank of America increased their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Finally, Zacks Research downgraded shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and an average target price of $292.78.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the firm'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 completion of the transaction, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $313.27 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $861.41 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 2.07 and a beta of 1.13. The company's 50 day moving average price is $295.88 and its two-hundred day moving average price is $268.71. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $313.44.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is 28.73%.

About JPMorgan Chase & Co.

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.

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