JPMorgan Chase & Co. (NYSE:JPM) Stake Reduced by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,506,096 shares of the financial services provider’s stock after selling 181,433 shares during the quarter. JPMorgan Chase & Co. accounts for about 0.9% of Sumitomo Mitsui Trust Holdings Inc.’s holdings, making the stock its 11th biggest position. Sumitomo Mitsui Trust Holdings Inc.’s holdings in JPMorgan Chase & Co. were worth $1,276,787,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Valicenti Advisory Services Inc. raised its holdings in JPMorgan Chase & Co. by 2.9% during the 3rd quarter. Valicenti Advisory Services Inc. now owns 79,891 shares of the financial services provider’s stock worth $11,586,000 after buying an additional 2,220 shares during the period. Etfidea LLC raised its holdings in JPMorgan Chase & Co. by 5.4% during the 4th quarter. Etfidea LLC now owns 1,937 shares of the financial services provider’s stock worth $329,000 after buying an additional 100 shares during the period. TKG Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 97.6% in the 3rd quarter. TKG Advisors LLC now owns 13,205 shares of the financial services provider’s stock valued at $1,915,000 after purchasing an additional 6,521 shares during the period. Sutton Place Investors LLC increased its holdings in shares of JPMorgan Chase & Co. by 179.5% in the 4th quarter. Sutton Place Investors LLC now owns 13,099 shares of the financial services provider’s stock valued at $2,228,000 after purchasing an additional 8,412 shares during the period. Finally, Alley Investment Management Company LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.4% in the 3rd quarter. Alley Investment Management Company LLC now owns 126,913 shares of the financial services provider’s stock valued at $18,405,000 after purchasing an additional 530 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,810 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $178.96, for a total transaction of $323,917.60. Following the completion of the sale, the insider now owns 44,956 shares of the company’s stock, valued at $8,045,325.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO James Dimon sold 178,222 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the completion of the transaction, the chief executive officer now directly owns 264,461 shares in the company, valued at $48,708,426.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Peter Scher sold 1,810 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $323,917.60. Following the transaction, the insider now owns 44,956 shares of the company’s stock, valued at $8,045,325.76. The disclosure for this sale can be found here. Insiders sold 1,020,696 shares of company stock valued at $186,794,151 over the last 90 days. 0.79% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research reports. UBS Group dropped their target price on JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. BMO Capital Markets dropped their target price on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a report on Monday, April 15th. Piper Sandler dropped their target price on JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and upped their target price for the company from $140.00 to $190.00 in a report on Tuesday, January 9th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $192.05.

JPMorgan Chase & Co. Stock Up 2.5 %

Shares of JPMorgan Chase & Co. stock opened at $185.80 on Friday. The stock has a market capitalization of $533.63 billion, a P/E ratio of 11.22, a PEG ratio of 2.28 and a beta of 1.15. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.29. The stock has a 50 day moving average price of $188.83 and a two-hundred day moving average price of $169.06. JPMorgan Chase & Co. has a 12-month low of $131.81 and a 12-month high of $200.94.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a yield of 2.48%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.78%.

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.