JPMorgan Chase & Co. $JPM is Public Employees Retirement System of Ohio's 10th Largest Position

Key Points

• Public Employees Retirement System of Ohio increased its JPMorgan stake by 43.8% in the first quarter, bringing its holdings to 1.59 million shares valued at approximately $467.6 million—about 1.5% of its portfolio.
• JPMorgan reported quarterly EPS of $6.14 and revenue of $58.02 billion, beating analyst expectations, while revenue rose 27.7% year over year. The bank also declared a $1.50 quarterly dividend, equal to a 1.7% yield.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus and several firms raising price targets; however, CEO Jamie Dimon warned about geopolitical, fiscal, valuation and consumer-credit risks.

Public Employees Retirement System of Ohio increased its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 43.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,589,736 shares of the financial services provider's stock after buying an additional 484,284 shares during the period. JPMorgan Chase & Co. comprises about 1.5% of Public Employees Retirement System of Ohio's investment portfolio, making the stock its 10th largest position. Public Employees Retirement System of Ohio owned approximately 0.06% of JPMorgan Chase & Co. worth $467,637,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Timmons Wealth Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth about $32,000. MBM Wealth Consultants LLC acquired a new position in JPMorgan Chase & Co. in the first quarter worth about $29,000. Osbon Capital Management LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at about $35,000. Finally, Turning Point Benefit Group Inc. bought a new stake in JPMorgan Chase & Co. in the third quarter valued at about $35,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Trading Up 0.8%

Shares of NYSE JPM opened at $356.15 on Tuesday. The company has a market cap of $954.30 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99. JPMorgan Chase & Co. has a 12-month low of $279.10 and a 12-month high of $359.05. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The stock's 50 day simple moving average is $324.84 and its 200 day simple moving average is $311.12.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, topping analysts' consensus estimates of $5.59 by $0.55. The firm had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The firm's revenue was up 27.7% on a year-over-year basis. During the same period in the prior year, the business earned $4.96 EPS. Equities research analysts expect that JPMorgan Chase & Co. will post 23.97 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.7%. JPMorgan Chase & Co.'s payout ratio is 25.71%.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: Strong earnings momentum: JPMorgan’s record second-quarter performance, including sharply higher earnings and revenue that exceeded analyst expectations, has reinforced investor confidence in its lending, trading and investment-banking operations. JPMorgan and Goldman Posted Record Quarters
• Positive Sentiment: Rising earnings estimates: Analysts are increasing their profit forecasts for JPMorgan, a trend that can support further near-term gains as investors reassess the bank’s earnings outlook. Earnings Estimates Rising for JPMorgan Chase
• Positive Sentiment: New payments opportunity: South Korea’s KB Kookmin Bank plans to use JPMorgan’s Kinexys blockchain for cross-border U.S.-dollar payments across 10 countries. The agreement highlights potential growth for JPMorgan’s institutional payments and digital-assets infrastructure. South Korea’s Largest Bank to Launch Payment Service on JPMorgan’s Kinexys
• Positive Sentiment: AI and efficiency appeal: Analysts continue to view JPMorgan favorably as it applies artificial intelligence to reduce costs and improve productivity, while maintaining strong cash generation and a diversified revenue base. These 3 AI Winners Don’t Sell the Tech—They Use It
• Neutral Sentiment: CEO Jamie Dimon’s account of his 2020 health crisis is personal and does not materially change JPMorgan’s current earnings or valuation outlook. Jamie Dimon Reveals the Moment He Knew It Might Be Goodbye
• Negative Sentiment: Risk warnings temper optimism: Dimon cautioned that investors may be underestimating geopolitical, fiscal and valuation risks. Rising consumer credit-card delinquencies and unusually volatile markets also represent potential pressure on future loan quality and results. Jamie Dimon Said Markets Are Underestimating Risks

Analyst Ratings Changes

A number of research firms have commented on JPM. Keefe, Bruyette & Woods increased their target price on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. Dbs Bank upgraded JPMorgan Chase & Co. to a "hold" rating in a report on Tuesday, May 12th. UBS Group upped their price target on JPMorgan Chase & Co. from $375.00 to $384.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $360.00 to $375.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "buy" rating and set a $375.00 target price for the company in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and an average price target of $358.67.

Insider Transactions at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the sale, the chief financial officer owned 32,438 shares of the company's stock, valued at $10,036,641.58. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the transaction, the chief operating officer directly owned 85,082 shares of the company's stock, valued at $26,326,072.44. The trade was a 5.47% 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. Over the last quarter, insiders sold 18,876 shares of company stock worth $5,907,051. Insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.