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New York State Common Retirement Fund reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 2.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,646,886 shares of the financial services provider’s stock after selling 93,374 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.3% of New York State Common Retirement Fund’s portfolio, making the stock its 10th largest holding. New York State Common Retirement Fund owned about 0.13% of JPMorgan Chase & Co. worth $894,581,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Hurlow Wealth Management Group Inc. raised its holdings in JPMorgan Chase & Co. by 0.7% in the fourth quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider’s stock worth $1,328,000 after buying an additional 40 shares during the last quarter. Wimmer Associates 1 LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.0% during the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider’s stock valued at $986,000 after buying an additional 40 shares during the last quarter. Twin Lakes Capital Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.3% during the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider’s stock valued at $3,340,000 after buying an additional 40 shares during the last quarter. Rockbridge Investment Management LCC increased its position in shares of JPMorgan Chase & Co. by 2.3% during the fourth quarter. Rockbridge Investment Management LCC now owns 1,838 shares of the financial services provider’s stock valued at $441,000 after acquiring an additional 41 shares in the last quarter. Finally, WorthPointe LLC raised its holdings in JPMorgan Chase & Co. by 2.9% in the 4th quarter. WorthPointe LLC now owns 1,546 shares of the financial services provider’s stock worth $371,000 after acquiring an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.
Insider Transactions at JPMorgan Chase & Co.
In other news, General Counsel Stacey Friedman sold 2,821 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the sale, the general counsel directly owned 68,757 shares of the company’s stock, valued at $18,269,422.47. This represents a 3.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the transaction, the chief operating officer owned 62,455 shares of the company’s stock, valued at $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is owned by company insiders.
Analyst Ratings Changes
Several research firms recently issued reports on JPM. Wall Street Zen raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the stock an “outperform” rating in a research note on Monday, June 30th. UBS Group increased their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Morgan Stanley lifted their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Bank of America boosted their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $288.68.
Read Our Latest Research Report on JPMorgan Chase & Co.
JPMorgan Chase & Co. Stock Up 0.5%
Shares of JPM stock opened at $291.22 on Friday. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $296.40. The company has a 50 day simple moving average of $274.67 and a two-hundred day simple moving average of $257.92. The stock has a market cap of $809.33 billion, a P/E ratio of 14.94, a P/E/G ratio of 2.53 and a beta of 1.10. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion during the quarter, compared to analysts’ expectations of $43.76 billion. During the same period in the prior year, the company posted $6.12 earnings per share. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.
JPMorgan Chase & Co. Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.92%. JPMorgan Chase & Co.’s payout ratio is 28.73%.
JPMorgan Chase & Co. Company Profile
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.
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