Arizona State Retirement System Has $201.23 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Arizona State Retirement System cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 820,359 shares of the financial services provider’s stock after selling 7,253 shares during the quarter. JPMorgan Chase & Co. accounts for 1.3% of Arizona State Retirement System’s investment portfolio, making the stock its 11th largest holding. Arizona State Retirement System’s holdings in JPMorgan Chase & Co. were worth $201,234,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Fourth Dimension Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $471,000. Crown Wealth Group LLC increased its holdings 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 in the last quarter. Hidden Cove Wealth Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 4.2% during the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock valued at $677,000 after acquiring an additional 112 shares in the last quarter. Aaron Wealth Advisors LLC grew its holdings in JPMorgan Chase & Co. by 6.4% during the first quarter. Aaron Wealth Advisors LLC now owns 20,191 shares of the financial services provider’s stock worth $4,953,000 after buying an additional 1,218 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in JPMorgan Chase & Co. by 11.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 15,648 shares of the financial services provider’s stock worth $3,838,000 after buying an additional 1,561 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the sale, the director owned 91,539 shares of the company’s stock, valued at approximately $22,884,750. This represents a 9.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the sale, the chief financial officer directly owned 18,017 shares in the company, valued at $4,518,123.09. This trade represents a 68.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,200 shares of company stock worth $18,060,015. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JPM. Truist Financial upped their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a “hold” rating in a report on Wednesday, July 9th. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Monday, July 7th. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price target for the company. in a report on Friday, June 27th. TD Cowen began coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a “buy” rating and a $305.00 price target for the company. Finally, Phillip Securities downgraded JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $288.68.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $291.22 on Friday. The stock’s 50-day simple moving average is $274.67 and its 200 day simple moving average is $257.92. The stock has a market capitalization of $809.33 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 2.53 and a beta of 1.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM) last issued 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. The business had revenue of $44.91 billion for the quarter, compared to analysts’ expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.12 EPS. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.92%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.73%.

JPMorgan Chase & Co. 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.