New Mexico Educational Retirement Board Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

New Mexico Educational Retirement Board cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 135,650 shares of the financial services provider’s stock after selling 4,800 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.1% of New Mexico Educational Retirement Board’s investment portfolio, making the stock its 11th biggest position. New Mexico Educational Retirement Board’s holdings in JPMorgan Chase & Co. were worth $32,517,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in JPM. Rappaport Reiches Capital Management LLC lifted its stake in JPMorgan Chase & Co. by 3.8% in the fourth quarter. Rappaport Reiches Capital Management LLC now owns 1,068 shares of the financial services provider’s stock worth $256,000 after acquiring an additional 39 shares during the last quarter. Yoder Wealth Management Inc. lifted its stake in JPMorgan Chase & Co. by 2.8% in the fourth quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 39 shares during the last quarter. Almanack Investment Partners LLC. lifted its stake in JPMorgan Chase & Co. by 0.8% in the fourth quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider’s stock worth $1,233,000 after acquiring an additional 39 shares during the last quarter. Powers Advisory Group LLC lifted its stake in JPMorgan Chase & Co. by 0.7% in the fourth quarter. Powers Advisory Group LLC now owns 6,131 shares of the financial services provider’s stock worth $1,470,000 after acquiring an additional 42 shares during the last quarter. Finally, Financial Avengers Inc. lifted its stake in JPMorgan Chase & Co. by 5.2% in the third quarter. Financial Avengers Inc. now owns 868 shares of the financial services provider’s stock worth $183,000 after acquiring an additional 43 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the transaction, the insider now owns 50,377 shares of the company’s stock, valued at $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jennifer Piepszak sold 4,273 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the transaction, the chief operating officer now directly owns 54,469 shares in the company, valued at $14,698,459.65. This trade represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,326 shares of company stock valued at $12,448,445. 0.79% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Keefe, Bruyette & Woods boosted their price objective on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a research report on Thursday, November 7th. Finally, Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Two 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.com, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus target price of $251.78.

JPMorgan Chase & Co. Stock Performance

JPM opened at $264.14 on Monday. The stock has a market cap of $738.56 billion, a PE ratio of 13.38, a P/E/G ratio of 2.83 and a beta of 1.12. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 1 year low of $179.20 and a 1 year high of $280.25. The stock’s 50 day simple moving average is $256.12 and its 200-day simple moving average is $235.45.

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

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.33%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.