State of New Jersey Common Pension Fund D reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,992,452 shares of the financial services provider’s stock after selling 108,614 shares during the period. JPMorgan Chase & Co. comprises approximately 0.8% of State of New Jersey Common Pension Fund D’s portfolio, making the stock its 19th biggest holding. State of New Jersey Common Pension Fund D’s holdings in JPMorgan Chase & Co. were worth $191,813,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of JPM. IBM Retirement Fund grew its holdings in shares of JPMorgan Chase & Co. by 36.7% during the 3rd quarter. IBM Retirement Fund now owns 103,214 shares of the financial services provider’s stock valued at $9,936,000 after purchasing an additional 27,691 shares during the last quarter. Hoey Investments Inc. increased its holdings in shares of JPMorgan Chase & Co. by 187.7% in the second quarter. Hoey Investments Inc. now owns 49,684 shares of the financial services provider’s stock worth $4,673,000 after buying an additional 32,417 shares during the period. Occidental Asset Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 6.7% in the 2nd quarter. Occidental Asset Management LLC now owns 8,857 shares of the financial services provider’s stock valued at $833,000 after acquiring an additional 554 shares during the last quarter. GFG Capital LLC purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at about $947,000. Finally, WealthTrust Axiom LLC increased its stake in JPMorgan Chase & Co. by 7.0% in the 2nd quarter. WealthTrust Axiom LLC now owns 7,703 shares of the financial services provider’s stock worth $724,000 after purchasing an additional 501 shares during the period. 69.35% of the stock is currently owned by hedge funds and other institutional investors.
Shares of JPM opened at $98.04 on Friday. JPMorgan Chase & Co. has a 12 month low of $76.91 and a 12 month high of $141.10. The business’s fifty day simple moving average is $99.04 and its two-hundred day simple moving average is $97.45. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.16. The company has a market cap of $298.79 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 2.68 and a beta of 1.15.
JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Monday, October 19th. The financial services provider reported $2.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.69. The business had revenue of $29.90 billion during the quarter, compared to analyst estimates of $28.20 billion. JPMorgan Chase & Co. had a return on equity of 10.85% and a net margin of 19.16%. JPMorgan Chase & Co.’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.68 EPS. As a group, research analysts forecast that JPMorgan Chase & Co. will post 7.45 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th will be paid a dividend of $0.90 per share. The ex-dividend date is Monday, October 5th. This represents a $3.60 dividend on an annualized basis and a yield of 3.67%. JPMorgan Chase & Co.’s dividend payout ratio is presently 34.35%.
In other news, insider Nicole Giles sold 2,281 shares of the company’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $100.98, for a total transaction of $230,335.38. Also, CFO Jennifer Piepszak sold 3,297 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $101.11, for a total transaction of $333,359.67. 0.78% of the stock is owned by corporate insiders.
Several brokerages recently commented on JPM. Credit Suisse Group reaffirmed a “buy” rating and issued a $126.00 target price (up from $122.00) on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 14th. Independent Research raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised their target price for the stock from $100.00 to $110.00 in a research note on Tuesday, September 29th. Seaport Global Securities assumed coverage on JPMorgan Chase & Co. in a research report on Wednesday, July 8th. They set a “buy” rating and a $119.00 price target for the company. Morgan Stanley reiterated a “buy” rating and issued a $106.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 27th. Finally, The Goldman Sachs Group upgraded JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company. JPMorgan Chase & Co. has an average rating of “Buy” and an average target price of $111.59.
JPMorgan Chase & Co. Company 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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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