Sompo Asset Management Co. Ltd. Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Sompo Asset Management Co. Ltd. cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 21.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 46,434 shares of the financial services provider’s stock after selling 12,753 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.6% of Sompo Asset Management Co. Ltd.’s portfolio, making the stock its 13th largest holding. Sompo Asset Management Co. Ltd.’s holdings in JPMorgan Chase & Co. were worth $9,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Wellington Wealth Strategies LLC. bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $1,145,000. Cooper Financial Group lifted its holdings in JPMorgan Chase & Co. by 12.8% in the first quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after acquiring an additional 984 shares during the period. Spartan Planning & Wealth Management lifted its holdings in JPMorgan Chase & Co. by 257.3% in the fourth quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock valued at $643,000 after acquiring an additional 2,722 shares during the period. jvl associates llc lifted its holdings in JPMorgan Chase & Co. by 59.8% in the first quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock valued at $383,000 after acquiring an additional 715 shares during the period. Finally, Rowlandmiller & PARTNERS.ADV lifted its holdings in JPMorgan Chase & Co. by 1.3% in the first quarter. Rowlandmiller & PARTNERS.ADV now owns 25,963 shares of the financial services provider’s stock valued at $5,201,000 after acquiring an additional 330 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 0.1 %

NYSE JPM opened at $211.70 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48. The stock’s 50 day moving average is $211.60 and its 200 day moving average is $202.14. The stock has a market cap of $607.92 billion, a PE ratio of 11.81, a P/E/G ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. During the same quarter in the previous year, the company posted $4.37 EPS. Research analysts predict that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 4th will be paid a $1.25 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, October 4th. This represents a $5.00 dividend on an annualized basis and a yield of 2.36%. JPMorgan Chase & Co.’s payout ratio is presently 27.89%.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Barclays lifted their price objective on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Oppenheimer lifted their price objective on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Citigroup lifted their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Finally, StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.06.

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.