Sumitomo Mitsui Financial Group Inc. Acquires 10,278 Shares of JPMorgan Chase & Co. $JPM

Sumitomo Mitsui Financial Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 132,155 shares of the financial services provider’s stock after purchasing an additional 10,278 shares during the quarter. JPMorgan Chase & Co. accounts for 0.8% of Sumitomo Mitsui Financial Group Inc.’s holdings, making the stock its 24th largest position. Sumitomo Mitsui Financial Group Inc.’s holdings in JPMorgan Chase & Co. were worth $42,583,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in JPM. First Financial Bankshares Inc increased its stake in JPMorgan Chase & Co. by 1.5% in the fourth quarter. First Financial Bankshares Inc now owns 737,285 shares of the financial services provider’s stock valued at $237,568,000 after acquiring an additional 11,089 shares during the last quarter. Xponance LLC increased its stake in JPMorgan Chase & Co. by 4.6% in the fourth quarter. Xponance LLC now owns 418,024 shares of the financial services provider’s stock valued at $134,696,000 after acquiring an additional 18,219 shares during the last quarter. UniSuper Management Pty Ltd increased its stake in JPMorgan Chase & Co. by 0.5% in the fourth quarter. UniSuper Management Pty Ltd now owns 1,405,578 shares of the financial services provider’s stock valued at $452,905,000 after acquiring an additional 7,271 shares during the last quarter. Winning Points Advisors LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $6,787,000. Finally, Graetz Wealth LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $203,000. 71.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on JPM. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. Argus lifted their price objective on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Barclays reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 6th. Royal Bank Of Canada reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Finally, Wells Fargo & Company decreased their price objective on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Fourteen analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $339.08.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $313.85 on Friday. The firm has a market cap of $840.97 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.51 and a beta of 1.00. The firm’s fifty day moving average is $305.78 and its 200-day moving average is $306.87. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. JPMorgan Chase & Co. has a 52 week low of $262.71 and a 52 week high of $337.25.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping 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 net margin of 20.66% and a return on equity of 17.54%. JPMorgan Chase & Co.’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.07 earnings per share. Sell-side analysts predict that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

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

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 5,468 shares of JPMorgan Chase & Co. stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the transaction, the general counsel owned 46,428 shares in the company, valued at approximately $13,940,935.56. The trade was a 10.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 5,611 shares of JPMorgan Chase & Co. stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $306.55, for a total transaction of $1,720,052.05. Following the transaction, the chief financial officer owned 35,460 shares in the company, valued at approximately $10,870,263. This trade represents a 13.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,589 shares of company stock worth $8,747,496 in the last three months. 0.41% of the stock is currently owned by company insiders.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan’s global expansion remains a positive, including reports that it has deployed $20 billion in the Gulf and doubled its private bankers in Singapore, signaling continued growth in wealth management and international banking. Article: JP Morgan deploys $20bn in Gulf and says postwar rebuild may cost hundreds of billions
• Positive Sentiment: The company continues to benefit from investor optimism around higher-for-longer rates after hotter inflation data, which can support bank lending margins and trading activity. Article: May Inflation Hits 4.2% as Energy Prices Surge, Raising Pressure on Federal Reserve
• Positive Sentiment: JPMorgan’s involvement in tokenized treasuries and digital-asset market infrastructure suggests it is positioned to benefit if regulated crypto adoption continues to grow. Article: Tokenized Treasuries Are Moving Onto the XRP Ledger
• Neutral Sentiment: Jamie Dimon’s comments on Mexico’s economy and trade highlight JPMorgan’s active role in global corporate and sovereign banking, but the direct stock impact is limited. Article: JPMorgan’s Jamie Dimon Praises the Mexican Economy
• Neutral Sentiment: JPMorgan also had several analyst-related headlines on other companies, but these are mostly read-throughs and do not materially change the bank’s own outlook. Article: Coherent and Lumentum just got more attractive, according to J.P. Morgan
• Negative Sentiment: The DOJ has subpoenaed JPMorgan in a widening “debanking” investigation, creating a potential legal and reputational risk for the bank. Article: US Justice Department subpoenas major banks over alleged ‘debanking’
• Negative Sentiment: JPMorgan and other banks also lost a lawsuit over alleged missed red flags at Tricolor, which may keep credit-risk concerns in focus. Article: JPMorgan, Barclays, Fifth Third defeat lawsuit over missed ‘red flags’ at Tricolor

JPMorgan Chase & Co. Company 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.