State of Michigan Retirement System increased its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 792,131 shares of the financial services provider after purchasing an additional 600 shares during the quarter. JPMorgan Chase & Co. makes up about 0.9% of State of Michigan Retirement System’s investment portfolio, making the stock its 19th-largest position. State of Michigan Retirement System’s holdings in JPMorgan Chase & Co. were worth $158,664,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC increased its stake in shares of JPMorgan Chase & Co. by 0.9% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 110,673 shares of the financial services provider’s stock worth $16,050,000 after acquiring an additional 965 shares in the last quarter. Harbor Investments Inc. increased its stake in shares of JPMorgan Chase & Co. by 2.3% in the 3rd quarter. Harbor Investments Inc. now owns 43,360 shares of the financial services provider’s stock worth $6,288,000 after acquiring an additional 960 shares in the last quarter. Obsidian Personal Planning Solutions LLC acquired a new position in JPMorgan Chase & Co. in the third quarter valued at about $290,000. Mine & Arao Wealth Creation & Management LLC. increased its holdings in JPMorgan Chase & Co. by 0.8% in the third quarter. Mine & Arao Wealth Creation & Management LLC. now owns 20,111 shares of the financial services provider’s stock worth $2,917,000 after acquiring an additional 168 shares in the last quarter. Finally, Owen LaRue LLC increased its position in JPMorgan Chase & Co. by 70.7% in the third quarter. Owen LaRue LLC now owns 25,189 shares of the financial services provider’s stock worth $3,653,000 after acquiring an additional 10,436 shares during the same period. 71.55% of the shares are currently held by hedge funds and other institutional investors.
Insiders place their bets
In other news, CEO James Dimon sold 178,222 shares of the company’s stock in a transaction that occurred on Monday, April 15. The shares were sold at an average price of $184.18, for a total value of $32,824,927.96. Following the sale, the CEO now directly owns 264,461 shares of the company’s stock, valued at approximately $48,708,426.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other JPMorgan Chase & Co. news, CEO James Dimon sold 178,222 shares of the company’s stock in a transaction that occurred on Monday, April 15. The shares were sold at an average price of $184.18, for a total value of $32,824,927.96. Following the completion of the sale, the CEO now directly owns 264,461 shares of the company’s stock, valued at $48,708,426.98. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 4,415 shares of the company’s stock on Monday, May 20. The shares were sold at an average price of $200.65, for a total value of $885,869.75. Following the transaction, the General Counsel now directly owns 42,124 shares of the company’s stock, valued at $8,452,180.60. The disclosure regarding this sale can be found here. In the last ninety days, insiders sold 250,565 shares of the company’s stock, valued at $46,962,717. 0.79% of the shares are owned by company insiders.
Wall Street analysts predict growth
Several research firms have recently commented on JPM. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Morgan Stanley decreased their price target on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday. UBS Group raised their price target on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Finally, Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $203.00 to $209.00 and gave the company a “market perform” rating in a research report on Tuesday, May 21. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating. The company currently has an average rating of “moderate buy” and a consensus price target of $194.65, according to MarketBeat.com.
Check out our latest stock analysis on JPM
JPMorgan Chase & Co. share price development
Shares of JPM opened at $204.77 on Friday. The company has a debt-to-equity ratio of 1.29, a current debt ratio of 0.92 and a current asset ratio of 0.92. The company has a 50-day moving average price of $198.41 and a 200-day moving average price of $187.45. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $210.38. The stock has a market cap of $588.03 billion, a P/E ratio of 12.37, a PEG ratio of 2.79 and a beta of 1.12.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last released its earnings results on Friday, April 12. The financial services provider reported earnings per share of $4.63 for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. The company had revenue of $41.93 billion for the quarter, compared to analyst estimates of $40.90 billion. Equities analysts forecast that JPMorgan Chase & Co. will report earnings per share of $16.5 for the current fiscal year.
JPMorgan Chase & Co. Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will receive a dividend of $1.15, with the ex-dividend date being Friday, July 5th. This represents an annualized dividend of $4.60 and a yield of 2.25%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.78%.
JPMorgan Chase & Co. Profile
(Free report)
JPMorgan Chase & Co is a global financial services company. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB) and Asset & Wealth Management (AWM). The CCB segment provides deposit, investment and lending products, cash management and payments and services, mortgage origination and servicing, mortgage loans and home equity loans, as well as credit cards, auto loans, leasing and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.
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