Sumitomo Mitsui Trust Group Inc. Has $1.48 Billion Position in JPMorgan Chase & Co. (NYSE:JPM)

Sumitomo Mitsui Trust Group Inc. grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,017,646 shares of the financial services provider’s stock after purchasing an additional 261,363 shares during the quarter. JPMorgan Chase & Co. comprises about 1.0% of Sumitomo Mitsui Trust Group Inc.’s portfolio, making the stock its 13th biggest position. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of JPMorgan Chase & Co. worth $1,479,741,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. WFA Asset Management Corp boosted its position in shares of JPMorgan Chase & Co. by 51.2% during the 1st quarter. WFA Asset Management Corp now owns 1,216 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 412 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth approximately $1,185,000. Hoey Investments Inc. boosted its holdings in JPMorgan Chase & Co. by 5.9% in the first quarter. Hoey Investments Inc. now owns 22,378 shares of the financial services provider’s stock worth $4,482,000 after acquiring an additional 1,247 shares in the last quarter. QRG Capital Management Inc. grew its stake in JPMorgan Chase & Co. by 5.5% in the first quarter. QRG Capital Management Inc. now owns 435,455 shares of the financial services provider’s stock valued at $87,222,000 after acquiring an additional 22,783 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of JPMorgan Chase & Co. by 4.7% during the first quarter. Russell Investments Group Ltd. now owns 1,861,761 shares of the financial services provider’s stock valued at $372,810,000 after acquiring an additional 84,173 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on JPM shares. Evercore ISI lifted their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $220.00 to $224.00 in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Royal Bank of Canada raised their price target on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Oppenheimer increased their price objective on JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $227.13.

JPMorgan Chase & Co. Trading Up 1.4 %

NYSE JPM opened at $245.31 on Friday. The business’s fifty day moving average is $219.50 and its 200-day moving average is $209.92. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $690.63 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 3.50 and a beta of 1.10. JPMorgan Chase & Co. has a one year low of $150.09 and a one year high of $248.00.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping the consensus estimate of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.33 earnings per share. Equities research analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.04%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

About JPMorgan Chase & Co.

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.