Illinois Municipal Retirement Fund Buys 28,744 Shares of JPMorgan Chase & Co. $JPM

Illinois Municipal Retirement Fund increased its position in JPMorgan Chase & Co. (NYSE:JPM) by 13.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,809 shares of the financial services provider’s stock after acquiring an additional 28,744 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.9% of Illinois Municipal Retirement Fund’s holdings, making the stock its 12th biggest position. Illinois Municipal Retirement Fund’s holdings in JPMorgan Chase & Co. were worth $69,366,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Three Seasons Wealth LLC raised its stake in JPMorgan Chase & Co. by 12.8% during the 1st quarter. Three Seasons Wealth LLC now owns 822 shares of the financial services provider’s stock worth $242,000 after acquiring an additional 93 shares during the period. Harmony Asset Management LLC boosted its position in shares of JPMorgan Chase & Co. by 0.9% in the first quarter. Harmony Asset Management LLC now owns 10,378 shares of the financial services provider’s stock worth $3,053,000 after purchasing an additional 96 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of JPMorgan Chase & Co. by 2.4% in the first quarter. Geneos Wealth Management Inc. now owns 73,064 shares of the financial services provider’s stock worth $21,492,000 after purchasing an additional 1,730 shares during the period. Northstar Financial Companies Inc. increased its stake in shares of JPMorgan Chase & Co. by 27.1% in the first quarter. Northstar Financial Companies Inc. now owns 6,031 shares of the financial services provider’s stock worth $1,774,000 after purchasing an additional 1,287 shares in the last quarter. Finally, Ethos Financial Group LLC raised its position in shares of JPMorgan Chase & Co. by 1.8% during the 1st quarter. Ethos Financial Group LLC now owns 25,349 shares of the financial services provider’s stock valued at $7,583,000 after purchasing an additional 455 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $341.60 on Monday. The firm has a market cap of $915.33 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 1.52 and a beta of 0.99. The firm has a fifty day moving average price of $319.11 and a 200 day moving average price of $310.21. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $351.24. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.71%.

Insider Transactions at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 3,022 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the transaction, the chief financial officer owned 32,438 shares in the company, valued at approximately $10,036,641.58. This trade represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total value of $1,808,100.91. Following the completion of the transaction, the general counsel owned 40,961 shares of the company’s stock, valued at approximately $13,547,031.53. This trade represents a 11.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 18,876 shares of company stock worth $5,907,051 in the last three months. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on JPM. Royal Bank Of Canada lifted their target price on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley reiterated a “positive” rating and issued a $370.00 price target on shares of JPMorgan Chase & Co. in a research note on Wednesday. Weiss Ratings raised JPMorgan Chase & Co. from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, July 6th. Argus raised their price target on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Finally, Evercore restated an “outperform” rating and issued a $360.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $354.92.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: JPMorgan’s blowout Q2 earnings are driving bullish sentiment, with the bank reporting record profits, 41% higher net income, strong trading and investment banking activity, and higher full-year net interest income guidance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income — Up 41% — and CEO Jamie Dimon Said the Economy Is “Close to as Good as It Gets.”
• Positive Sentiment: Analysts have been raising expectations after the results, including multiple higher price targets and upgraded earnings forecasts, signaling confidence that JPMorgan can continue to outperform. JPMorgan Price Target Raised to $380 on Strong Q2 Results, Upgraded Outlook and Capital Strength
• Positive Sentiment: The stock is also benefiting from expectations that JPMorgan may raise its quarterly dividend by 10% after passing the Federal Reserve stress test, reinforcing the bank’s capital strength and shareholder-return story. JPM Stock Just Staged a Record Bull Run. 1 Analyst Thinks It Can Still Soar to $420.
• Neutral Sentiment: JPMorgan was added to several “Strong Buy” and momentum/income stock lists, which adds to positive sentiment but is less directly impactful than earnings or guidance. New Strong Buy Stocks for July 17th
• Neutral Sentiment: JPMorgan also drew attention for major financing activity and a $24 million Philadelphia shipbuilding investment, highlighting ongoing business expansion and capital deployment. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Late-day sector weakness in financial stocks may be limiting JPMorgan’s upside even as company-specific fundamentals remain strong. Sector Update: Financial Stocks Decline Friday Afternoon

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.