Sumitomo Mitsui Trust Group Inc. Acquires 261,363 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Sumitomo Mitsui Trust Group Inc. grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,017,646 shares of the financial services provider’s stock after buying an additional 261,363 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.0% of Sumitomo Mitsui Trust Group Inc.’s investment portfolio, making the stock its 13th largest holding. Sumitomo Mitsui Trust Group Inc.’s holdings in JPMorgan Chase & Co. were worth $1,479,741,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Apollon Financial LLC raised its stake in shares of JPMorgan Chase & Co. by 1.7% during the 3rd quarter. Apollon Financial LLC now owns 4,906 shares of the financial services provider’s stock valued at $1,035,000 after purchasing an additional 82 shares during the period. Patron Partners LLC grew its holdings in JPMorgan Chase & Co. by 1.9% during the 3rd quarter. Patron Partners LLC now owns 4,593 shares of the financial services provider’s stock valued at $968,000 after buying an additional 87 shares in the last quarter. WealthPlan Investment Management LLC increased its position in shares of JPMorgan Chase & Co. by 17.6% during the third quarter. WealthPlan Investment Management LLC now owns 29,321 shares of the financial services provider’s stock valued at $6,183,000 after buying an additional 4,393 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of JPMorgan Chase & Co. in the third quarter worth about $842,000. Finally, Waverton Investment Management Ltd boosted its position in shares of JPMorgan Chase & Co. by 26.4% in the third quarter. Waverton Investment Management Ltd now owns 408,819 shares of the financial services provider’s stock valued at $86,161,000 after acquiring an additional 85,361 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $245.31 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a 52-week low of $150.09 and a 52-week high of $248.00. The company has a fifty day moving average of $219.50 and a 200-day moving average of $209.92. The stock has a market capitalization of $690.63 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 3.50 and a beta of 1.10.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were given 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 was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.82%.

Analyst Ratings Changes

A number of research firms recently weighed in on JPM. Oppenheimer upped their target price on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Daiwa Capital Markets decreased their price target on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Evercore ISI increased their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Barclays boosted their target price on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $227.13.

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.