Sumitomo Mitsui Trust Group Inc. Cuts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Sumitomo Mitsui Trust Group Inc. reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,721,963 shares of the financial services provider’s stock after selling 76,448 shares during the quarter. JPMorgan Chase & Co. comprises about 1.2% of Sumitomo Mitsui Trust Group Inc.’s investment portfolio, making the stock its 11th biggest position. Sumitomo Mitsui Trust Group Inc. owned 0.24% of JPMorgan Chase & Co. worth $1,648,898,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in JPM. Redwood Park Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $29,000. Curat Global LLC acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $33,000. Sellwood Investment Partners LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $34,000. Investment Counsel Co. of Nevada acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $37,000. Finally, Midwest Capital Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $43,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Citigroup reiterated a “neutral” rating and issued a $275.00 price target (up from $250.00) on shares of JPMorgan Chase & Co. in a report on Wednesday, June 25th. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Friday, June 27th. TD Securities restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, June 10th. Finally, Morgan Stanley raised their target price on JPMorgan Chase & Co. from $236.00 to $240.00 and gave the company an “equal weight” rating in a research note on Monday, June 23rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $277.74.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $296.13 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. The firm’s 50-day moving average price is $265.91 and its two-hundred day moving average price is $254.16. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $296.40. The stock has a market capitalization of $822.96 billion, a P/E ratio of 14.54, a P/E/G ratio of 2.72 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. During the same quarter last year, the company posted $4.44 earnings per share. JPMorgan Chase & Co.’s revenue was up 8.0% on a year-over-year basis. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.89%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.49%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the sale, the director owned 91,539 shares of the company’s stock, valued at approximately $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total value of $1,536,908.04. Following the sale, the chief operating officer directly owned 68,583 shares in the company, valued at approximately $17,197,873.08. This trade represents a 8.20% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,200 shares of company stock worth $18,060,015. Insiders own 0.47% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.