Retirement Systems of Alabama Decreases Position in JPMorgan Chase & Co. (NYSE:JPM)

Retirement Systems of Alabama trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 994,111 shares of the financial services provider’s stock after selling 19,944 shares during the quarter. JPMorgan Chase & Co. comprises 0.7% of Retirement Systems of Alabama’s holdings, making the stock its 15th biggest holding. Retirement Systems of Alabama’s holdings in JPMorgan Chase & Co. were worth $169,098,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Stone House Investment Management LLC increased its position in shares of JPMorgan Chase & Co. by 132.8% during the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after buying an additional 89 shares during the period. Macroview Investment Management LLC increased its holdings in JPMorgan Chase & Co. by 7,833.3% during the 3rd 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 during the period. Briaud Financial Planning Inc purchased a new stake in JPMorgan Chase & Co. in the 3rd quarter worth approximately $40,000. Stuart Chaussee & Associates Inc. bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at $40,000. Finally, Rakuten Securities Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Evercore ISI boosted their target price on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. UBS Group lowered their target price on shares of JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Jefferies Financial Group boosted their price target on shares of JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. The Goldman Sachs Group restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. Finally, Wells Fargo & Company upped their target price on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $192.05.

Insider Activity

In related news, insider Lori A. Beer sold 3,920 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $195.36, for a total transaction of $765,811.20. Following the completion of the transaction, the insider now owns 64,783 shares of the company’s stock, valued at approximately $12,656,006.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Ashley Bacon sold 3,368 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $179.00, for a total value of $602,872.00. Following the completion of the transaction, the insider now owns 202,093 shares in the company, valued at $36,174,647. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lori A. Beer sold 3,920 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $195.36, for a total value of $765,811.20. Following the sale, the insider now owns 64,783 shares of the company’s stock, valued at $12,656,006.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,020,696 shares of company stock worth $186,794,151. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $190.51 on Friday. The company’s fifty day moving average price is $191.40 and its 200-day moving average price is $172.13. The stock has a market cap of $547.08 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 2.40 and a beta of 1.13. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. JPMorgan Chase & Co. has a 12 month low of $131.81 and a 12 month high of $200.94.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Thursday, April 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s dividend payout ratio is 27.78%.

JPMorgan Chase & Co. Profile

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; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.