Resona Asset Management Co. Ltd. Invests $205.10 Million in JPMorgan Chase & Co. (NYSE:JPM)

Resona Asset Management Co. Ltd. bought a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 854,807 shares of the financial services provider’s stock, valued at approximately $205,098,000. JPMorgan Chase & Co. makes up about 1.2% of Resona Asset Management Co. Ltd.’s investment portfolio, making the stock its 11th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Principal Financial Group Inc. raised its position in JPMorgan Chase & Co. by 3.2% during the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock valued at $1,228,110,000 after purchasing an additional 182,648 shares during the period. United Bank raised its holdings in JPMorgan Chase & Co. by 2.5% during the 3rd quarter. United Bank now owns 25,354 shares of the financial services provider’s stock valued at $5,346,000 after buying an additional 614 shares during the period. Kensington Investment Counsel LLC lifted its position in JPMorgan Chase & Co. by 1.3% in the third quarter. Kensington Investment Counsel LLC now owns 22,426 shares of the financial services provider’s stock worth $4,729,000 after buying an additional 291 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in JPMorgan Chase & Co. during the third quarter worth $45,000. Finally, Pacific Center for Financial Services boosted its stake in JPMorgan Chase & Co. by 1.5% during the third quarter. Pacific Center for Financial Services now owns 3,349 shares of the financial services provider’s stock worth $706,000 after buying an additional 49 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the sale, the insider now directly owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the sale, the chief executive officer now owns 158,381 shares in the company, valued at $42,737,529.04. This represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,848 shares of company stock worth $19,987,908 in the last three months. 0.79% of the stock is owned by insiders.

JPMorgan Chase & Co. Trading Down 8.1 %

NYSE JPM opened at $210.09 on Monday. JPMorgan Chase & Co. has a one year low of $179.20 and a one year high of $280.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The company has a market capitalization of $587.43 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The company’s 50-day simple moving average is $254.71 and its two-hundred day simple moving average is $241.75.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.78. The company had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. JPMorgan Chase & Co.’s revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company posted $3.04 earnings per share. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.67%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s payout ratio is presently 28.37%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on JPM. Bank of America lowered their target price on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research report on Friday, January 3rd. Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. UBS Group raised their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Barclays upped their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $254.83.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.