Sumitomo Life Insurance Co. Grows Stock Holdings in JPMorgan Chase & Co. $JPM

Sumitomo Life Insurance Co. increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 95,604 shares of the financial services provider’s stock after buying an additional 3,084 shares during the quarter. JPMorgan Chase & Co. comprises about 0.8% of Sumitomo Life Insurance Co.’s holdings, making the stock its 21st largest position. Sumitomo Life Insurance Co.’s holdings in JPMorgan Chase & Co. were worth $30,806,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $11,396,496,000. Bank of New York Mellon Corp grew its holdings in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock worth $7,547,837,000 after buying an additional 1,194,583 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of JPMorgan Chase & Co. by 0.6% during the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock worth $6,128,484,000 after buying an additional 110,586 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider’s stock worth $5,161,532,000 after buying an additional 296,213 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of JPMorgan Chase & Co. by 2.3% during the third quarter. Invesco Ltd. now owns 14,655,153 shares of the financial services provider’s stock worth $4,622,675,000 after buying an additional 322,735 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In other news, CFO Jeremy Barnum sold 3,022 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total transaction of $935,037.02. Following the sale, the chief financial officer owned 32,438 shares of the company’s stock, valued at $10,036,641.58. The trade was a 8.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total value of $1,522,036.98. Following the sale, the chief operating officer directly owned 85,082 shares in the company, valued at $26,326,072.44. This trade represents a 5.47% 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 28,589 shares of company stock worth $8,747,496 over the last quarter. Insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $320.55 on Friday. JPMorgan Chase & Co. has a twelve month low of $262.71 and a twelve month high of $337.25. The stock’s 50 day moving average is $306.29 and its two-hundred day moving average is $306.96. The firm has a market capitalization of $858.93 billion, a PE ratio of 15.35, a P/E/G ratio of 1.53 and a beta of 1.00. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating analysts’ consensus estimates of $5.50 by $0.44. The company had revenue of $50.54 billion for 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%.The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.07 EPS. Research analysts anticipate that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is 28.74%.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: Erste Group raised its FY2027 earnings estimate for JPMorgan, signaling confidence in the bank’s longer-term profitability; it now expects $23.55 per share versus a prior $23.47. MarketBeat earnings estimate update
• Positive Sentiment: JPMorgan is deepening its presence in the Charlotte suburbs with new branch openings, a sign of continued retail banking expansion and customer acquisition. Business Journals article
• Positive Sentiment: Several recent commentary pieces highlighted JPMorgan as an attractive stock to own, reinforcing the view that investors still see it as a high-quality banking franchise. Yahoo Finance article
• Neutral Sentiment: Media coverage around Jamie Dimon’s criticism of crypto regulation and the “debanking” probe keeps JPMorgan in the regulatory spotlight, but these stories are more about policy debate than immediate fundamentals. Benzinga article
• Negative Sentiment: The Justice Department’s sweeping “debanking” investigation into JPMorgan and other large banks adds a legal and reputational overhang that could weigh on sentiment if the probe intensifies. New York Post/Reuters coverage

Analysts Set New Price Targets

A number of research firms recently issued reports on JPM. Jefferies Financial Group reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Truist Financial lifted their price objective on JPMorgan Chase & Co. from $323.00 to $332.00 and gave the company a “hold” rating in a report on Wednesday, April 15th. Zacks Research lowered JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Evercore lifted their price objective on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Fourteen analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus target price of $339.08.

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.