JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 19.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,708 shares of the financial services provider’s stock after selling 38,407 shares during the period. JPMorgan Chase & Co. makes up about 0.8% of Dai ichi Life Insurance Company Ltd’s investment portfolio, making the stock its 20th biggest holding. Dai ichi Life Insurance Company Ltd’s holdings in JPMorgan Chase & Co. were worth $32,622,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Mizuho Securities Co. Ltd. acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at about $27,000. Fairway Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at about $32,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at about $34,000. Finally, West Financial Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at about $37,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on JPM. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Daiwa Capital Markets lowered their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Royal Bank of Canada raised their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Finally, Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $229.31.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $249.79 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm’s 50-day moving average price is $226.43 and its two-hundred day moving average price is $213.26. JPMorgan Chase & Co. has a 52-week low of $152.72 and a 52-week high of $254.31. The stock has a market capitalization of $703.24 billion, a P/E ratio of 13.90, a P/E/G ratio of 3.63 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $43.32 billion for the quarter, compared to analysts’ expectations of $41.43 billion. During the same quarter last year, the company posted $4.33 earnings per share. JPMorgan Chase & Co.’s revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Friday, October 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s 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.