New York State Teachers Retirement System Trims Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

New York State Teachers Retirement System cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,577,719 shares of the financial services provider’s stock after selling 127,204 shares during the period. JPMorgan Chase & Co. comprises approximately 1.1% of New York State Teachers Retirement System’s portfolio, making the stock its 12th largest position. New York State Teachers Retirement System owned approximately 0.09% of JPMorgan Chase & Co. worth $543,538,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of JPM. Retirement Group LLC increased its stake in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares during the period. Fairway Wealth LLC acquired a new position in JPMorgan Chase & Co. in the second quarter valued at $32,000. Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the second quarter valued at $34,000. West Financial Advisors LLC acquired a new position in JPMorgan Chase & Co. in the third quarter valued at $37,000. Finally, Davidson Capital Management Inc. acquired a new position in JPMorgan Chase & Co. in the first quarter valued at $37,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on JPM shares. Piper Sandler boosted their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. BMO Capital Markets boosted their price target on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Citigroup boosted their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Finally, StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.81.

JPMorgan Chase & Co. Stock Up 0.5 %

Shares of NYSE JPM opened at $222.94 on Friday. JPMorgan Chase & Co. has a 12-month low of $139.23 and a 12-month high of $226.75. The company has a market capitalization of $627.65 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 3.28 and a beta of 1.10. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.91. The firm’s 50-day moving average is $216.15 and its two-hundred day moving average is $206.72.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the prior year, the firm earned $4.33 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts anticipate that JPMorgan Chase & Co. will post 17.52 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

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.