JPMorgan Chase & Co. (NYSE:JPM) Stake Decreased by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,319,541 shares of the financial services provider’s stock after selling 117,082 shares during the quarter. JPMorgan Chase & Co. accounts for 1.3% of New York State Teachers Retirement System’s investment portfolio, making the stock its 11th biggest position. New York State Teachers Retirement System’s holdings in JPMorgan Chase & Co. were worth $568,983,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Amalgamated Bank raised its holdings in shares of JPMorgan Chase & Co. by 0.8% during the first quarter. Amalgamated Bank now owns 545,280 shares of the financial services provider’s stock valued at $133,757,000 after buying an additional 4,458 shares during the last quarter. Innovative Wealth Building LLC increased its stake in shares of JPMorgan Chase & Co. by 10.2% during the first quarter. Innovative Wealth Building LLC now owns 943 shares of the financial services provider’s stock valued at $231,000 after acquiring an additional 87 shares during the period. Crown Wealth Group LLC increased its stake in shares of JPMorgan Chase & Co. by 5.4% during the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock valued at $1,060,000 after acquiring an additional 222 shares during the period. Wealthstar Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 41.4% during the first quarter. Wealthstar Advisors LLC now owns 2,628 shares of the financial services provider’s stock valued at $645,000 after acquiring an additional 770 shares during the period. Finally, Strid Group LLC increased its stake in shares of JPMorgan Chase & Co. by 1.8% during the first quarter. Strid Group LLC now owns 3,003 shares of the financial services provider’s stock valued at $737,000 after acquiring an additional 52 shares during the period. Institutional investors own 71.55% of the company’s stock.

Insider Activity

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the transaction, the chief operating officer directly owned 68,583 shares in the company, valued at approximately $17,197,873.08. The trade was a 8.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the transaction, the chief financial officer owned 18,017 shares in the company, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Trading Up 1.4%

JPMorgan Chase & Co. stock opened at $296.13 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $822.96 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 2.75 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $296.40. The firm’s 50 day moving average price is $266.97 and its two-hundred day moving average price is $254.56.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. During the same period in the previous year, the company posted $4.44 EPS. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is 27.49%.

Analyst Ratings Changes

A number of research firms recently commented on JPM. Bank of America raised their price objective on shares of JPMorgan Chase & Co. from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, June 18th. UBS Group raised their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Citigroup reiterated a “neutral” rating and set a $275.00 price objective (up previously from $250.00) on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 25th. Piper Sandler reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Finally, Truist Financial raised their price objective on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a “hold” rating in a research note on Monday, June 2nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and an average price target of $277.74.

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.