Arizona State Retirement System Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Arizona State Retirement System lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 820,359 shares of the financial services provider's stock after selling 7,253 shares during the period. JPMorgan Chase & Co. makes up 1.3% of Arizona State Retirement System's portfolio, making the stock its 11th biggest position. Arizona State Retirement System's holdings in JPMorgan Chase & Co. were worth $201,234,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Redwood Park Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $29,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $33,000. Sellwood Investment Partners LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $34,000. Investment Counsel Co. of Nevada bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $37,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $43,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

Shares of JPM traded up $1.32 during mid-day trading on Friday, hitting $291.22. The stock had a trading volume of 12,206,726 shares, compared to its average volume of 9,522,248. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The company's fifty day simple moving average is $274.67 and its two-hundred day simple moving average is $257.92. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $296.40. The company has a market cap of $809.33 billion, a PE ratio of 14.94, a PEG ratio of 2.54 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $6.12 EPS. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

Insiders Place Their Bets

In other news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the transaction, the director directly owned 91,539 shares in the company, valued at approximately $22,884,750. This represents a 9.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the transaction, the chief operating officer directly owned 62,455 shares in the company, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock valued at $18,060,015 in the last 90 days. Insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on JPM. Truist Financial increased their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a research report on Friday, June 27th. TD Cowen initiated coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a "buy" rating and a $305.00 target price on the stock. Finally, Morgan Stanley increased their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and an average price target of $288.68.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.