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

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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. makes up 0.9% of Sumitomo Mitsui Trust Holdings Inc.’s investment portfolio, making the stock its 11th largest position. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.26% of JPMorgan Chase & Co. worth $1,276,787,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in JPM. Moneta Group Investment Advisors LLC increased its holdings in JPMorgan Chase & Co. by 105,652.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after acquiring an additional 97,907,897 shares in the last quarter. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $3,894,646,000. Morgan Stanley boosted its stake in shares of JPMorgan Chase & Co. by 15.9% during the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after purchasing an additional 8,088,433 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $1,017,893,000. Finally, Wellington Management Group LLP boosted its stake in shares of JPMorgan Chase & Co. by 12.2% during the 3rd quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock worth $6,151,997,000 after purchasing an additional 4,603,090 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 2.5 %

Shares of JPM stock opened at $185.80 on Friday. The stock has a market cap of $533.63 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 2.28 and a beta of 1.15. The firm’s 50 day moving average price is $188.83 and its two-hundred day moving average price is $169.06. JPMorgan Chase & Co. has a fifty-two week low of $131.81 and a fifty-two week high of $200.94. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.29.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be paid a dividend of $1.15 per share. The ex-dividend date is Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.48%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Piper Sandler decreased their price target on shares of JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Morgan Stanley decreased their price target on shares of JPMorgan Chase & Co. from $221.00 to $216.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Bank of America raised their target price on shares of JPMorgan Chase & Co. from $177.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Finally, BMO Capital Markets decreased their target price on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a research report on Monday, April 15th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.05.

Insider Activity

In other news, CEO James Dimon sold 821,778 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total transaction of $150,163,493.94. Following the sale, the chief executive officer now owns 595,316 shares in the company, valued at $108,782,092.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO James Dimon sold 821,778 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total transaction of $150,163,493.94. Following the sale, the chief executive officer now owns 595,316 shares in the company, valued at $108,782,092.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 6,030 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total transaction of $1,101,861.90. Following the sale, the general counsel now owns 59,456 shares in the company, valued at approximately $10,864,394.88. The disclosure for this sale can be found here. Insiders have sold 1,020,696 shares of company stock worth $186,794,151 over the last 90 days. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company 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.