Sumitomo Mitsui DS Asset Management Company Ltd Reduces Holdings in JPMorgan Chase & Co. $JPM

Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 711,055 shares of the financial services provider’s stock after selling 30,614 shares during the period. JPMorgan Chase & Co. accounts for 1.8% of Sumitomo Mitsui DS Asset Management Company Ltd’s holdings, making the stock its 10th biggest holding. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in JPMorgan Chase & Co. were worth $229,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Legal & General Group Plc grew its stake in JPMorgan Chase & Co. by 3.3% in the 3rd quarter. Legal & General Group Plc now owns 18,908,978 shares of the financial services provider’s stock worth $5,964,459,000 after acquiring an additional 607,025 shares in the last quarter. Fisher Asset Management LLC grew its stake in JPMorgan Chase & Co. by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 15,722,443 shares of the financial services provider’s stock worth $4,959,330,000 after acquiring an additional 347,033 shares in the last quarter. Invesco Ltd. grew its stake in JPMorgan Chase & Co. by 2.3% in the 3rd quarter. Invesco Ltd. now owns 14,655,153 shares of the financial services provider’s stock worth $4,622,675,000 after acquiring an additional 322,735 shares in the last quarter. Boston Partners grew its stake in JPMorgan Chase & Co. by 2.3% in the 3rd quarter. Boston Partners now owns 7,492,763 shares of the financial services provider’s stock worth $2,360,045,000 after acquiring an additional 168,184 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in JPMorgan Chase & Co. by 0.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,809,417 shares of the financial services provider’s stock worth $2,147,894,000 after acquiring an additional 31,421 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,404 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $306.40, for a total transaction of $1,042,985.60. Following the completion of the sale, the general counsel owned 61,949 shares of the company’s stock, valued at $18,981,173.60. This represents a 5.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jennifer Piepszak sold 4,919 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the sale, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at $26,326,072.44. The trade was a 5.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 79,849 shares of company stock valued at $24,522,956 over the last three months. Company insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. News Roundup

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

• Positive Sentiment: JPMorganChase declared dividends on its Series II, OO and PP preferred stock, signaling continued capital return and financial stability. JPMorganChase Declares Preferred Stock Dividends
• Positive Sentiment: Reuters reported that JPMorgan’s long-running push into early-stage tech banking is paying off, with the firm now leading global technology investment banking and winning business from startup clients early in their growth cycle. JPMorgan’s bet on early-stage companies pays off in leading global tech investment banking
• Positive Sentiment: Chase continued expanding its branch network, opening 18 new branches in May as part of a multibillion-dollar expansion, which supports deposit gathering and retail growth over time. Chase Opens 18 Branches in May Amid Multibillion-Dollar Expansion

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $297.93 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50 day moving average price is $299.67 and its 200-day moving average price is $307.32. JPMorgan Chase & Co. has a 52-week low of $256.00 and a 52-week high of $337.25. The company has a market cap of $798.31 billion, a PE ratio of 14.27, a P/E/G ratio of 1.46 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. During the same period last year, the firm earned $5.07 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. Sell-side analysts forecast that JPMorgan Chase & Co. will post 22.42 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Monday, April 6th. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.74%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on JPM. Robert W. Baird set a $295.00 target price on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Daiwa Securities Group dropped their target price on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Evercore upped their target price on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. UBS Group dropped their price objective on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research note on Wednesday, May 6th. Finally, Barclays reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 6th. Fifteen research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $338.12.

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.