Dai ichi Life Insurance Company Ltd Sells 18,675 Shares of JPMorgan Chase & Co. $JPM

Dai ichi Life Insurance Company Ltd cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 10.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 153,475 shares of the financial services provider’s stock after selling 18,675 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.3% of Dai ichi Life Insurance Company Ltd’s holdings, making the stock its 10th biggest position. Dai ichi Life Insurance Company Ltd’s holdings in JPMorgan Chase & Co. were worth $45,146,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after purchasing an additional 4,841 shares during the period. Acorns Advisers LLC increased its position in JPMorgan Chase & Co. by 6.9% during the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 100 shares during the period. Ignite Planners LLC raised its stake in shares of JPMorgan Chase & Co. by 0.7% during the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider’s stock worth $3,185,000 after buying an additional 78 shares in the last quarter. Jump Financial LLC purchased a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $1,475,000. Finally, Betterment LLC lifted its holdings in shares of JPMorgan Chase & Co. by 27.5% in the 2nd quarter. Betterment LLC now owns 1,970 shares of the financial services provider’s stock valued at $571,000 after buying an additional 425 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.8%

JPMorgan Chase & Co. stock opened at $356.15 on Tuesday. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $359.05. The firm has a market capitalization of $954.30 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99. The stock’s fifty day moving average is $324.84 and its two-hundred day moving average is $311.12. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.55. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $50.72 billion. During the same quarter in the previous year, the company posted $4.96 EPS. The business’s revenue was up 27.7% on a year-over-year basis. Analysts predict that JPMorgan Chase & Co. will post 23.97 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.71%.

Insiders Place Their Bets

In other news, CFO Jeremy Barnum sold 3,022 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the completion of the transaction, the chief financial officer directly owned 32,438 shares of the company’s stock, valued at $10,036,641.58. This trade represents a 8.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total value of $1,522,036.98. Following the transaction, the chief operating officer owned 85,082 shares of the company’s stock, valued at $26,326,072.44. This represents a 5.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 18,876 shares of company stock worth $5,907,051. Insiders own 0.41% of the company’s stock.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: Strong earnings momentum: JPMorgan’s record second-quarter performance, including sharply higher earnings and revenue that exceeded analyst expectations, has reinforced investor confidence in its lending, trading and investment-banking operations. JPMorgan and Goldman Posted Record Quarters
• Positive Sentiment: Rising earnings estimates: Analysts are increasing their profit forecasts for JPMorgan, a trend that can support further near-term gains as investors reassess the bank’s earnings outlook. Earnings Estimates Rising for JPMorgan Chase
• Positive Sentiment: New payments opportunity: South Korea’s KB Kookmin Bank plans to use JPMorgan’s Kinexys blockchain for cross-border U.S.-dollar payments across 10 countries. The agreement highlights potential growth for JPMorgan’s institutional payments and digital-assets infrastructure. South Korea’s Largest Bank to Launch Payment Service on JPMorgan’s Kinexys
• Positive Sentiment: AI and efficiency appeal: Analysts continue to view JPMorgan favorably as it applies artificial intelligence to reduce costs and improve productivity, while maintaining strong cash generation and a diversified revenue base. These 3 AI Winners Don’t Sell the Tech—They Use It
• Neutral Sentiment: CEO Jamie Dimon’s account of his 2020 health crisis is personal and does not materially change JPMorgan’s current earnings or valuation outlook. Jamie Dimon Reveals the Moment He Knew It Might Be Goodbye
• Negative Sentiment: Risk warnings temper optimism: Dimon cautioned that investors may be underestimating geopolitical, fiscal and valuation risks. Rising consumer credit-card delinquencies and unusually volatile markets also represent potential pressure on future loan quality and results. Jamie Dimon Said Markets Are Underestimating Risks

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on JPM shares. Jefferies Financial Group set a $350.00 price objective on JPMorgan Chase & Co. in a report on Tuesday, July 14th. Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Argus increased their price target on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Weiss Ratings cut shares of JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, July 21st. Finally, Robert W. Baird upped their target price on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average price target of $358.67.

JPMorgan Chase & Co. 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.