Sumitomo Mitsui Trust Group Inc. Has $1.80 Billion Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Sumitomo Mitsui Trust Group trimmed its JPMorgan Chase stake by 5.6% in the first quarter, selling 364,413 shares and ending with 6.11 million shares worth about $1.80 billion.
• JPMorgan reported better-than-expected quarterly results, with EPS of $5.94 versus $5.50 expected and revenue of $50.54 billion versus $48.30 billion estimated, alongside 10% year-over-year revenue growth.
• The bank also declared a quarterly dividend of $1.50 per share, while analysts remain mixed overall, with a consensus rating of Hold and a price target around $345.33.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,110,549 shares of the financial services provider's stock after selling 364,413 shares during the period. JPMorgan Chase & Co. accounts for about 1.2% of Sumitomo Mitsui Trust Group Inc.'s holdings, making the stock its 10th biggest position. Sumitomo Mitsui Trust Group Inc. owned 0.23% of JPMorgan Chase & Co. worth $1,797,479,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Timmons Wealth Management LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $27,000. MBM Wealth Consultants LLC bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $32,000. Osbon Capital Management LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $35,000. Finally, Turning Point Benefit Group Inc. bought a new position in JPMorgan Chase & Co. in the 3rd quarter worth about $35,000. Institutional investors own 71.55% of the company's stock.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: Analysts and market coverage suggest JPMorgan could beat expectations on strong equities trading, investment banking, and overall banking-sector momentum heading into earnings. Bank Earnings Should Wow Wall Street. What's Driving Those Bottom Lines.
• Positive Sentiment: Bank of America analysts said major U.S. banks, including JPMorgan, could surprise to the upside as capital-markets activity and wealth-management flows remain supportive. US bank earnings could surprise to the upside as Bank of America highlights strong operating backdrop
• Positive Sentiment: JPMorgan’s own research on AI investing agents drew attention after the bank said the models beat traditional 60/40 portfolios in backtests, reinforcing a perception of innovation and potential future product differentiation. JPMorgan Chase (JPM) Says Its AI Agents Beat 60 40 Portfolios In Backtests
• Neutral Sentiment: JPMorgan Asset Management also released a retirement survey and promoted an internal leadership change at Campbell Global; these are positive for the franchise but unlikely to move JPM stock materially on their own. J.P. Morgan Asset Management Survey Finds Plan Participants Want an "Easy Button" and More Retirement Income Support Campbell Global Appoints Michael Barbara to Head of Global Acquisitions
• Negative Sentiment: Headline risk remains from renewed scrutiny over JPMorgan’s historical relationship with Epstein and related political questioning of Dimon, which could weigh on sentiment even if it does not change fundamentals. Dimon pressed over whether he lobbied UK government on Epstein’s advice

Insiders Place Their Bets

In other news, CFO Jeremy Barnum sold 5,611 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $306.55, for a total value of $1,720,052.05. Following the transaction, the chief financial officer owned 35,460 shares of the company's stock, valued at $10,870,263. This represents a 13.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 9,136 shares of the firm's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total transaction of $2,800,732.16. Following the sale, the chief operating officer owned 90,001 shares in the company, valued at approximately $27,590,706.56. This trade represents a 9.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 33,623 shares of company stock valued at $10,427,835 in the last quarter. Corporate insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $335.19 on Tuesday. The business's 50-day moving average price is $316.28 and its two-hundred day moving average price is $309.76. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $343.45. The stock has a market cap of $898.14 billion, a P/E ratio of 16.05, a PEG ratio of 1.53 and a beta of 0.99. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping the consensus estimate of $5.50 by $0.44. The company had revenue of $50.54 billion during the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.JPMorgan Chase & Co.'s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.07 earnings per share. As a group, equities analysts predict that JPMorgan Chase & Co. will post 22.82 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a dividend of $1.50 per share. The ex-dividend date is Monday, July 6th. This represents a $6.00 annualized dividend and a yield of 1.8%. JPMorgan Chase & Co.'s payout ratio is presently 28.74%.

Wall Street Analyst Weigh In

JPM has been the subject of a number of recent analyst reports. DZ Bank reaffirmed a "neutral" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Morgan Stanley raised their price objective on shares of JPMorgan Chase & Co. from $336.00 to $362.00 and gave the company an "equal weight" rating in a research report on Monday, June 29th. HSBC boosted their price objective on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a "hold" rating in a research note on Monday, May 4th. UBS Group upped their target price on shares of JPMorgan Chase & Co. from $375.00 to $384.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Finally, Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $350.00 to $360.00 and gave the stock an "overweight" rating in a research note on Monday, July 6th. Fourteen analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $345.33.

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.

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