Maryland State Retirement & Pension System Raises Stock Position in JPMorgan Chase & Co. $JPM

Maryland State Retirement & Pension System boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,689 shares of the financial services provider’s stock after acquiring an additional 3,052 shares during the period. JPMorgan Chase & Co. accounts for about 0.9% of Maryland State Retirement & Pension System’s holdings, making the stock its 23rd biggest position. Maryland State Retirement & Pension System’s holdings in JPMorgan Chase & Co. were worth $39,048,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. LCM Capital Management Inc boosted its holdings in shares of JPMorgan Chase & Co. by 0.9% in the second quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock worth $1,115,000 after buying an additional 36 shares during the last quarter. jvl associates llc boosted its holdings in shares of JPMorgan Chase & Co. by 1.7% in the second quarter. jvl associates llc now owns 2,094 shares of the financial services provider’s stock worth $607,000 after buying an additional 36 shares during the last quarter. Lakeshore Financial Planning Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 0.4% in the second quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider’s stock worth $2,441,000 after buying an additional 37 shares during the last quarter. Western Financial Corp CA boosted its holdings in shares of JPMorgan Chase & Co. by 1.5% in the second quarter. Western Financial Corp CA now owns 2,642 shares of the financial services provider’s stock worth $766,000 after buying an additional 38 shares during the last quarter. Finally, First Command Advisory Services Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 0.4% in the first quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider’s stock worth $2,283,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on JPM shares. Morgan Stanley raised their price objective on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a report on Wednesday. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Friday, June 27th. Finally, Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Fifteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $319.40.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Trading Down 2.3%

Shares of JPM opened at $298.67 on Friday. The company’s fifty day moving average is $302.63 and its 200 day moving average is $278.17. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The stock has a market capitalization of $821.27 billion, a PE ratio of 14.79, a P/E/G ratio of 1.96 and a beta of 1.13. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business had revenue of $46.43 billion for the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter in the previous year, the business posted $4.37 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.72%.

JPMorgan Chase & Co. Company 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.