Illinois Municipal Retirement Fund Grows Stake in JPMorgan Chase & Co. (NYSE:JPM)

Illinois Municipal Retirement Fund boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 7.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,906 shares of the financial services provider's stock after buying an additional 15,231 shares during the period. JPMorgan Chase & Co. makes up 0.7% of Illinois Municipal Retirement Fund's investment portfolio, making the stock its 12th biggest holding. Illinois Municipal Retirement Fund's holdings in JPMorgan Chase & Co. were worth $50,754,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Redwood Park Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $29,000. Curat Global LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth approximately $33,000. Sellwood Investment Partners LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $34,000. Investment Counsel Co. of Nevada bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at $37,000. Finally, Midwest Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at $43,000. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Up 1.4%

Shares of JPM traded up $4.13 during trading hours on Friday, hitting $296.13. The company had a trading volume of 6,541,646 shares, compared to its average volume of 9,527,821. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $296.40. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. The stock's 50 day moving average price is $265.91 and its 200 day moving average price is $254.16. The firm has a market cap of $822.96 billion, a P/E ratio of 14.54, a P/E/G ratio of 2.72 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. JPMorgan Chase & Co.'s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $4.44 EPS. On average, research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on JPM. Citigroup reiterated a "neutral" rating and issued a $275.00 price objective (up previously from $250.00) on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 25th. Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday. Morgan Stanley upped their price objective on shares of JPMorgan Chase & Co. from $236.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Monday, June 23rd. Evercore ISI raised their price objective on shares of JPMorgan Chase & Co. from $280.00 to $298.00 and gave the company an "outperform" rating in a research report on Wednesday. Finally, Baird R W lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $277.74.

Insider Activity

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,129 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total value of $1,536,908.04. Following the sale, the chief operating officer owned 68,583 shares of the company's stock, valued at $17,197,873.08. This trade represents a 8.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction dated 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 completion of the transaction, the director owned 91,539 shares in the company, valued at $22,884,750. The trade was a 9.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock worth $18,060,015 over the last ninety days. Company insiders own 0.47% of the company's stock.

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.