JPMorgan Chase & Co. $JPM Stake Lifted by New York State Teachers Retirement System

New York State Teachers Retirement System lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,184,576 shares of the financial services provider’s stock after acquiring an additional 19,649 shares during the quarter. JPMorgan Chase & Co. comprises about 1.3% of New York State Teachers Retirement System’s investment portfolio, making the stock its 11th biggest holding. New York State Teachers Retirement System owned 0.08% of JPMorgan Chase & Co. worth $642,615,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC lifted its position in shares of JPMorgan Chase & Co. by 7.9% in the 4th quarter. Fidelis Capital Partners LLC now owns 70,077 shares of the financial services provider’s stock valued at $22,580,000 after acquiring an additional 5,101 shares in the last quarter. Howard Capital Management Inc. grew its position in JPMorgan Chase & Co. by 18.2% during the 4th quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider’s stock worth $8,308,000 after purchasing an additional 3,976 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in JPMorgan Chase & Co. by 51.7% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider’s stock valued at $2,862,000 after purchasing an additional 3,027 shares during the period. Brighton Jones LLC lifted its holdings in shares of JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after purchasing an additional 4,841 shares in the last quarter. Finally, KTF Investments LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $6,449,000. Institutional investors own 71.55% of the company’s stock.

Key Headlines Impacting JPMorgan Chase & Co.

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: UBS and Bank of America raised their price targets on JPMorgan Chase & Co. (NYSE: JPM), reinforcing a bullish outlook from major Wall Street firms.
• Positive Sentiment: JPMorgan Chase & Co. (NYSE: JPM) is approaching its July 14 earnings report with analysts expecting earnings growth and a potential beat.
• Positive Sentiment: Industry commentary suggests trading and investment-banking activity may have been strong in the second quarter, which could boost JPMorgan Chase & Co. (NYSE: JPM) results.
• Neutral Sentiment: Reports that big banks are exploring a payments deal to work around debit-card fee caps could be strategically important, but the direct impact on JPMorgan Chase & Co. (NYSE: JPM) remains uncertain.
• Neutral Sentiment: Several articles highlighted JPMorgan’s market commentary on currencies, semiconductors, and broader equities, which reflect the firm’s research activity more than a direct earnings driver.
• Neutral Sentiment: JPMorgan Chase & Co. (NYSE: JPM) ceased to be a substantial holder in Clarity Pharmaceuticals, a routine portfolio update with limited likely impact on the stock.

JPMorgan Chase & Co. Trading Up 0.4%

Shares of NYSE JPM opened at $339.06 on Wednesday. The business has a 50 day simple moving average of $314.47 and a 200 day simple moving average of $309.35. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $343.45. The stock has a market cap of $908.53 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 1.54 and a beta of 0.99. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.44. The firm had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $5.07 earnings per share. On average, research analysts predict that JPMorgan Chase & Co. will post 22.76 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is 28.74%.

Wall Street Analysts Forecast Growth

JPM has been the topic of several recent analyst reports. Barclays reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, May 6th. UBS Group lifted their target price on JPMorgan Chase & Co. from $375.00 to $384.00 and gave the company a “buy” rating in a research note on Tuesday. Robert W. Baird set a $295.00 target price on JPMorgan Chase & Co. in a report on Wednesday, April 15th. Truist Financial increased their price target on shares of JPMorgan Chase & Co. from $332.00 to $344.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. Finally, Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Fourteen analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average price target of $345.33.

Insider Activity

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total value of $1,808,100.91. Following the completion of the sale, the general counsel directly owned 40,961 shares of the company’s stock, valued at $13,547,031.53. This represents a 11.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the transaction, the chief financial officer directly owned 32,438 shares of the company’s stock, valued at $10,036,641.58. This represents a 8.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 33,623 shares of company stock valued at $10,427,835. 0.41% of the stock is owned by insiders.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.