New York State Teachers Retirement System Sells 10,519 Shares of JPMorgan Chase & Co. $JPM

New York State Teachers Retirement System lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,309,022 shares of the financial services provider’s stock after selling 10,519 shares during the quarter. JPMorgan Chase & Co. comprises 1.4% of New York State Teachers Retirement System’s investment portfolio, making the stock its 11th biggest holding. New York State Teachers Retirement System owned about 0.08% of JPMorgan Chase & Co. worth $669,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. JFS Wealth Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 0.4% in the second quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider’s stock worth $2,290,000 after purchasing an additional 35 shares in the last quarter. LCM Capital Management Inc increased its stake 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 purchasing an additional 36 shares in the last quarter. jvl associates llc increased its stake 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 purchasing an additional 36 shares in the last quarter. Lakeshore Financial Planning Inc. increased its stake 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 purchasing an additional 37 shares in the last quarter. Finally, Western Financial Corp CA increased its stake 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 purchasing an additional 38 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the company’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 completion of the sale, the director owned 82,207 shares of the company’s stock, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on JPM shares. Royal Bank Of Canada restated a “buy” rating and set a $343.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Bank of America upped their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods upped their target price on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Finally, UBS Group upped their target price on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $322.27.

JPMorgan Chase & Co. Stock Up 1.9%

Shares of JPMorgan Chase & Co. stock opened at $300.27 on Friday. The firm’s 50 day moving average price is $303.43 and its 200-day moving average price is $281.56. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 52-week low of $202.16 and a 52-week high of $318.01. The company has a market cap of $825.66 billion, a P/E ratio of 14.87, a PEG ratio of 1.81 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping 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 company had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. During the same period last year, the business earned $4.37 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is currently 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.