Kentucky Retirement Systems Insurance Trust Fund Acquires 48,886 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Kentucky Retirement Systems Insurance Trust Fund raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 58.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 133,124 shares of the financial services provider’s stock after acquiring an additional 48,886 shares during the quarter. JPMorgan Chase & Co. comprises 2.8% of Kentucky Retirement Systems Insurance Trust Fund’s holdings, making the stock its 3rd biggest holding. Kentucky Retirement Systems Insurance Trust Fund’s holdings in JPMorgan Chase & Co. were worth $31,911,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB increased its stake in shares of JPMorgan Chase & Co. by 17.2% during the 3rd quarter. AMF Tjanstepension AB now owns 473,785 shares of the financial services provider’s stock worth $99,972,000 after purchasing an additional 69,451 shares during the last quarter. Family Investment Center Inc. increased its stake in shares of JPMorgan Chase & Co. by 63.1% during the 3rd quarter. Family Investment Center Inc. now owns 2,420 shares of the financial services provider’s stock worth $510,000 after purchasing an additional 936 shares during the last quarter. Leuthold Group LLC increased its stake in shares of JPMorgan Chase & Co. by 15.5% during the 3rd quarter. Leuthold Group LLC now owns 34,838 shares of the financial services provider’s stock worth $7,346,000 after purchasing an additional 4,679 shares during the last quarter. Southern Capital Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 49.2% during the 3rd quarter. Southern Capital Advisors LLC now owns 2,051 shares of the financial services provider’s stock worth $433,000 after purchasing an additional 676 shares during the last quarter. Finally, Smithbridge Asset Management Inc. DE increased its stake in shares of JPMorgan Chase & Co. by 5.0% during the 3rd quarter. Smithbridge Asset Management Inc. DE now owns 47,983 shares of the financial services provider’s stock worth $10,118,000 after purchasing an additional 2,297 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JPM. UBS Group boosted their price objective on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note 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 target price for the company. in a report on Thursday, November 7th. Truist Financial lifted their target price on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $251.78.

Insider Transactions at JPMorgan Chase & Co.

In related news, CEO Troy L. Rohrbaugh sold 37,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 158,381 shares in the company, valued at $42,737,529.04. This represents a 19.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the transaction, the chief operating officer now owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. This represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,326 shares of company stock valued at $12,448,445. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $264.56 on Friday. The firm has a 50-day moving average price of $258.55 and a two-hundred day moving average price of $236.93. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $739.74 billion, a P/E ratio of 13.40, a P/E/G ratio of 2.83 and a beta of 1.12.

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

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.33%.

About JPMorgan Chase & Co.

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.