JPMorgan Chase & Co. (NYSE:JPM) Stock Position Lifted by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 36.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,559 shares of the financial services provider’s stock after acquiring an additional 19,302 shares during the quarter. JPMorgan Chase & Co. makes up approximately 0.3% of Sumitomo Life Insurance Co.’s holdings, making the stock its 24th largest position. Sumitomo Life Insurance Co.’s holdings in JPMorgan Chase & Co. were worth $14,306,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in JPM. Stone House Investment Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 132.8% during the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 89 shares during the period. Retirement Group LLC grew its position in shares of JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter worth about $34,000. Davidson Capital Management Inc. bought a new position in JPMorgan Chase & Co. in the first quarter worth about $37,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $40,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of JPM traded up $2.42 during mid-day trading on Friday, hitting $213.97. The company’s stock had a trading volume of 7,931,234 shares, compared to its average volume of 9,221,095. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.92. The firm has a 50-day moving average price of $204.67 and a 200 day moving average price of $195.56. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $217.56. The stock has a market capitalization of $614.45 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 2.42 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter in the prior year, the company earned $4.37 earnings per share. On average, research analysts predict that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is 25.66%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Barclays upped their price objective on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods increased their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday, July 9th. Citigroup lifted their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. UBS Group upped their target price on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Finally, Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.71.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the sale, the insider now owns 212,265 shares in the company, valued at approximately $42,355,358.10. The transaction was disclosed in a filing with the SEC, which is available through this link. In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the transaction, the insider now directly owns 212,265 shares in the company, valued at approximately $42,355,358.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lori A. Beer sold 5,298 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.64, for a total value of $1,062,990.72. Following the completion of the sale, the insider now owns 46,375 shares of the company’s stock, valued at approximately $9,304,680. The disclosure for this sale can be found here. Insiders sold 14,799 shares of company stock worth $2,963,721 in the last quarter. 0.79% of the stock is owned by company insiders.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.