Texas Permanent School Fund Corp Lowers Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Texas Permanent School Fund Corp reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 600,467 shares of the financial services provider’s stock after selling 12,310 shares during the quarter. JPMorgan Chase & Co. makes up 0.8% of Texas Permanent School Fund Corp’s portfolio, making the stock its 13th largest position. Texas Permanent School Fund Corp’s holdings in JPMorgan Chase & Co. were worth $87,080,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC grew its stake in JPMorgan Chase & Co. by 105,652.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after acquiring an additional 97,907,897 shares during the period. Norges Bank purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $3,894,646,000. Morgan Stanley grew its stake in JPMorgan Chase & Co. by 15.9% in the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after acquiring an additional 8,088,433 shares during the period. Barclays PLC grew its stake in JPMorgan Chase & Co. by 51.6% in the 2nd quarter. Barclays PLC now owns 8,422,975 shares of the financial services provider’s stock worth $1,225,037,000 after acquiring an additional 2,868,091 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in JPMorgan Chase & Co. by 7,427.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,664,092 shares of the financial services provider’s stock worth $363,169,000 after acquiring an additional 2,628,701 shares during the period. 68.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and lifted their target price for the stock from $140.00 to $190.00 in a research note on Tuesday, January 9th. BMO Capital Markets boosted their price objective on shares of JPMorgan Chase & Co. from $192.00 to $194.00 and gave the company a “market perform” rating in a research note on Tuesday, January 16th. Oppenheimer boosted their price objective on shares of JPMorgan Chase & Co. from $232.00 to $238.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Morgan Stanley boosted their price objective on shares of JPMorgan Chase & Co. from $191.00 to $221.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Finally, Odeon Capital Group cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $140.00 price objective for the company. in a research note on Thursday, November 2nd. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $179.11.

Check Out Our Latest Stock Report on JPMorgan Chase & Co.

Insider Activity

In other news, CEO Marianne Lake sold 32,243 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $160.00, for a total value of $5,158,880.00. Following the sale, the chief executive officer now owns 131,962 shares in the company, valued at approximately $21,113,920. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Marianne Lake sold 32,243 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $160.00, for a total transaction of $5,158,880.00. Following the sale, the chief executive officer now owns 131,962 shares in the company, valued at $21,113,920. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Peter Scher sold 1,812 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $166.65, for a total transaction of $301,969.80. Following the sale, the insider now owns 46,766 shares in the company, valued at approximately $7,793,553.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,072 shares of company stock worth $6,297,103. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $175.01 on Monday. JPMorgan Chase & Co. has a 12 month low of $123.11 and a 12 month high of $178.30. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.91 and a quick ratio of 0.90. The firm has a market capitalization of $503.44 billion, a P/E ratio of 10.79, a P/E/G ratio of 2.21 and a beta of 1.14. The company’s fifty day moving average price is $168.65 and its two-hundred day moving average price is $155.28.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last issued its earnings results on Friday, January 12th. The financial services provider reported $3.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.69). The company had revenue of $38.57 billion during the quarter, compared to analyst estimates of $39.73 billion. JPMorgan Chase & Co. had a net margin of 20.70% and a return on equity of 17.80%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.57 EPS. On average, research analysts anticipate that JPMorgan Chase & Co. will post 15.87 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Thursday, January 4th were paid a $1.05 dividend. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.40%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.89%.

About JPMorgan Chase & Co.

(Free Report)

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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.

Further Reading

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPMFree Report).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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