New York State Teachers Retirement System Has $642.62 Million Stock Holdings in JPMorgan Chase & Co. $JPM

New York State Teachers Retirement System boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,184,576 shares of the financial services provider’s stock after purchasing an additional 19,649 shares during the period. JPMorgan Chase & Co. comprises 1.3% of New York State Teachers Retirement System’s portfolio, making the stock its 11th biggest holding. New York State Teachers Retirement System’s holdings in JPMorgan Chase & Co. were worth $642,615,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Timmons Wealth Management LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $27,000. MBM Wealth Consultants LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $32,000. Osbon Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $35,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $35,000. 71.55% of the stock is currently owned by institutional investors.

More JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: UBS and Bank of America raised their price targets on JPMorgan Chase & Co. (NYSE: JPM), reinforcing a bullish outlook from major Wall Street firms.
• Positive Sentiment: JPMorgan Chase & Co. (NYSE: JPM) is approaching its July 14 earnings report with analysts expecting earnings growth and a potential beat.
• Positive Sentiment: Industry commentary suggests trading and investment-banking activity may have been strong in the second quarter, which could boost JPMorgan Chase & Co. (NYSE: JPM) results.
• Neutral Sentiment: Reports that big banks are exploring a payments deal to work around debit-card fee caps could be strategically important, but the direct impact on JPMorgan Chase & Co. (NYSE: JPM) remains uncertain.
• Neutral Sentiment: Several articles highlighted JPMorgan’s market commentary on currencies, semiconductors, and broader equities, which reflect the firm’s research activity more than a direct earnings driver.
• Neutral Sentiment: JPMorgan Chase & Co. (NYSE: JPM) ceased to be a substantial holder in Clarity Pharmaceuticals, a routine portfolio update with limited likely impact on the stock.

JPMorgan Chase & Co. Price Performance

JPM opened at $339.06 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $908.53 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 1.54 and a beta of 0.99. The company’s 50 day simple moving average is $314.47 and its 200-day simple moving average is $309.35. JPMorgan Chase & Co. has a one year low of $279.10 and a one year high of $343.45.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.44. The firm had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.07 EPS. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 22.76 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a dividend of $1.50 per share. The ex-dividend date is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. JPMorgan Chase & Co.’s payout ratio is presently 28.74%.

Insider Activity

In related news, CFO Jeremy Barnum sold 5,611 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.55, for a total value of $1,720,052.05. Following the transaction, the chief financial officer owned 35,460 shares in the company, valued at $10,870,263. This trade represents a 13.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 9,136 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total value of $2,800,732.16. Following the completion of the sale, the chief operating officer owned 90,001 shares of the company’s stock, valued at approximately $27,590,706.56. The trade was a 9.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 33,623 shares of company stock valued at $10,427,835 over the last 90 days. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on JPM. Weiss Ratings upgraded shares of JPMorgan Chase & Co. from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday. Argus lifted their target price on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Royal Bank Of Canada reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Bank of America raised their price target on JPMorgan Chase & Co. from $362.00 to $408.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Jefferies Financial Group reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, June 25th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $345.33.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.