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

Sumitomo Life Insurance Co. lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,387 shares of the financial services provider's stock after selling 4,032 shares during the period. JPMorgan Chase & Co. comprises about 0.5% of Sumitomo Life Insurance Co.'s portfolio, making the stock its 20th largest holding. Sumitomo Life Insurance Co.'s holdings in JPMorgan Chase & Co. were worth $25,023,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. International Assets Investment Management LLC purchased a new stake in JPMorgan Chase & Co. during the 3rd quarter worth approximately $1,888,088,000. Fisher Asset Management LLC lifted its holdings in JPMorgan Chase & Co. by 31.7% in the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider's stock valued at $3,539,132,000 after acquiring an additional 4,043,841 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in JPMorgan Chase & Co. by 137.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider's stock valued at $922,760,000 after acquiring an additional 2,535,590 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in JPMorgan Chase & Co. by 93.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider's stock valued at $567,669,000 after acquiring an additional 1,301,764 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in JPMorgan Chase & Co. by 7.2% in the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider's stock valued at $3,338,955,000 after purchasing an additional 1,016,289 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.5 %

NYSE JPM traded up $1.34 during trading hours on Tuesday, reaching $268.15. The company's stock had a trading volume of 5,619,778 shares, compared to its average volume of 10,176,410. The firm has a fifty day simple moving average of $248.25 and a 200-day simple moving average of $228.90. The stock has a market cap of $754.93 billion, a P/E ratio of 13.58, a P/E/G ratio of 2.87 and a beta of 1.12. JPMorgan Chase & Co. has a 52 week low of $172.62 and a 52 week high of $270.82. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. During the same quarter last year, the firm posted $3.04 EPS. The company's quarterly revenue was up 10.9% on a year-over-year basis. Equities analysts forecast that JPMorgan Chase & Co. will post 17.82 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Monday, January 6th. JPMorgan Chase & Co.'s payout ratio is presently 25.33%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares in the company, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.79% of the company's stock.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of recent research reports. Royal Bank of Canada upped their price objective on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Citigroup raised their price objective on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a "neutral" rating in a research report on Tuesday, November 19th. UBS Group increased their target price on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Oppenheimer cut shares of JPMorgan Chase & Co. from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 20th. Finally, Daiwa Capital Markets dropped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an "overweight" rating for the company in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $251.78.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.