New York State Common Retirement Fund Cuts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

New York State Common Retirement Fund cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPMFree Report) by 6.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,705,688 shares of the financial services provider’s stock after selling 317,840 shares during the quarter. JPMorgan Chase & Co. makes up about 1.0% of New York State Common Retirement Fund’s investment portfolio, making the stock its 13th biggest position. New York State Common Retirement Fund owned about 0.16% of JPMorgan Chase & Co. worth $682,419,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Macroview Investment Management LLC grew its position in JPMorgan Chase & Co. by 7,833.3% in the third quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 235 shares in the last quarter. Briaud Financial Planning Inc purchased a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $40,000. FSC Wealth Advisors LLC boosted its position in shares of JPMorgan Chase & Co. by 290.9% during the third quarter. FSC Wealth Advisors LLC now owns 387 shares of the financial services provider’s stock valued at $56,000 after buying an additional 288 shares during the period. Legacy Financial Group LLC purchased a new position in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $58,000. Finally, Robbins Farley boosted its position in shares of JPMorgan Chase & Co. by 29.5% during the third quarter. Robbins Farley now owns 421 shares of the financial services provider’s stock valued at $61,000 after buying an additional 96 shares during the period. Hedge funds and other institutional investors own 68.94% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on JPM shares. Piper Sandler boosted their target price on JPMorgan Chase & Co. from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. The Goldman Sachs Group restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. Morgan Stanley boosted their target price on JPMorgan Chase & Co. from $191.00 to $221.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. Jefferies Financial Group dropped their target price on JPMorgan Chase & Co. from $176.00 to $169.00 in a research report on Tuesday, October 10th. Finally, BMO Capital Markets lifted their price target on shares of JPMorgan Chase & Co. from $192.00 to $194.00 and gave the company a “market perform” rating in a research note on Tuesday, January 16th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus price target of $179.11.

Check Out Our Latest Analysis on JPMorgan Chase & Co.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $174.49 on Tuesday. The company has a market capitalization of $501.95 billion, a price-to-earnings ratio of 10.76, a price-to-earnings-growth ratio of 2.20 and a beta of 1.14. JPMorgan Chase & Co. has a 52 week low of $123.11 and a 52 week high of $178.30. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 1.30. The firm has a 50 day moving average of $167.06 and a 200 day moving average of $154.77.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $3.04 EPS for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.69). The business had revenue of $38.57 billion during the quarter, compared to the consensus estimate of $39.73 billion. JPMorgan Chase & Co. had a return on equity of 17.80% and a net margin of 20.70%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the firm earned $3.57 EPS. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 15.85 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Thursday, January 4th were given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Thursday, January 4th. JPMorgan Chase & Co.’s payout ratio is presently 25.89%.

Insider Transactions at JPMorgan Chase & Co.

In other news, CEO Marianne Lake sold 32,243 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $160.00, for a total transaction of $5,158,880.00. Following the transaction, the chief executive officer now directly owns 131,962 shares of the company’s stock, valued at $21,113,920. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Marianne Lake sold 32,243 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $160.00, for a total transaction of $5,158,880.00. Following the transaction, the chief executive officer now directly owns 131,962 shares of the company’s stock, valued at $21,113,920. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Peter Scher sold 1,812 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $166.65, for a total transaction of $301,969.80. Following the sale, the insider now directly owns 46,766 shares in the company, valued at $7,793,553.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,072 shares of company stock valued at $6,297,103. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Profile

(Free Report)

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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