Sumitomo Mitsui DS Asset Management Company Ltd Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

Posted by on Apr 11th, 2023

Sumitomo Mitsui DS Asset Management Company Ltd cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 487,790 shares of the financial services provider’s stock after selling 1,642 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.3% of Sumitomo Mitsui DS Asset Management Company Ltd’s investment portfolio, making the stock its 14th biggest position. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in JPMorgan Chase & Co. were worth $65,413,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of JPM. Retirement Financial Solutions LLC acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth $26,000. Creative Capital Management Investments LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $30,000. HBC Financial Services PLLC increased its position in shares of JPMorgan Chase & Co. by 61.2% during the 2nd quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 90 shares during the last quarter. Horizons Wealth Management acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth about $39,000. Finally, New Millennium Group LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 67.89% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $127.89 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.12. The company has a fifty day simple moving average of $135.64 and a 200-day simple moving average of $130.80. The stock has a market cap of $374.90 billion, a P/E ratio of 10.59, a price-to-earnings-growth ratio of 1.99 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $144.34.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted its quarterly earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.46. The company had revenue of $34.55 billion for the quarter, compared to analysts’ expectations of $34.23 billion. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. JPMorgan Chase & Co.’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period last year, the firm earned $3.33 earnings per share. Equities analysts expect that JPMorgan Chase & Co. will post 12.82 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Thursday, April 6th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.13%. The ex-dividend date is Wednesday, April 5th. JPMorgan Chase & Co.’s payout ratio is 33.11%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays increased their price objective on shares of JPMorgan Chase & Co. from $162.00 to $189.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 3rd. Oppenheimer dropped their price objective on JPMorgan Chase & Co. from $186.00 to $157.00 and set an “outperform” rating for the company in a research note on Thursday, March 23rd. Morgan Stanley decreased their target price on JPMorgan Chase & Co. from $173.00 to $153.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 5th. StockNews.com started coverage on JPMorgan Chase & Co. in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $150.00 to $157.00 in a research note on Tuesday, January 17th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $149.33.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 23,148 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $140.31, for a total transaction of $3,247,895.88. Following the sale, the general counsel now owns 48,311 shares of the company’s stock, valued at $6,778,516.41. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Mellody L. Hobson bought 375 shares of the firm’s stock in a transaction that occurred on Thursday, January 19th. The stock was purchased at an average cost of $134.53 per share, with a total value of $50,448.75. Following the transaction, the director now directly owns 22,040 shares in the company, valued at $2,965,041.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 23,148 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $140.31, for a total value of $3,247,895.88. Following the transaction, the general counsel now directly owns 48,311 shares in the company, valued at approximately $6,778,516.41. The disclosure for this sale can be found here. Insiders sold 37,887 shares of company stock valued at $5,315,762 over the last three months. 0.79% of the stock is owned by corporate insiders.

About JPMorgan Chase & Co.

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JPMorgan Chase & Co is a financial holding company, which engages in providing 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.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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