JPMorgan Chase & Co. $JPM Shares Bought by New Mexico Educational Retirement Board

Key Points

• New Mexico Educational Retirement Board increased its JPMorgan stake by 5.8% in the second quarter, purchasing 7,400 additional shares for a total holding valued at approximately $43.9 million. Institutional investors own 71.55% of the stock.
• JPMorgan reported quarterly earnings of $6.14 per share, beating estimates of $5.59, while revenue rose 27.7% year over year to $58.02 billion. The company also raised its quarterly dividend to $1.65 per share, equivalent to a 2.0% annual yield.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $360.58; recommendations include 16 Buys and 12 Holds, although Jefferies recently lowered its target to $365 and kept a Hold rating.

New Mexico Educational Retirement Board grew its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,050 shares of the financial services provider's stock after purchasing an additional 7,400 shares during the period. JPMorgan Chase & Co. comprises approximately 1.1% of New Mexico Educational Retirement Board's investment portfolio, making the stock its 14th largest holding. New Mexico Educational Retirement Board's holdings in JPMorgan Chase & Co. were worth $43,879,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. MBM Wealth Consultants LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $29,000. Aventus Investment Advisors Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $33,000. Osbon Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $35,000. Lifetime Wealth Management P.C. purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $65,000. Finally, Phillip James Consulting Co. acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth about $64,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 0.2%

Shares of NYSE JPM opened at $338.05 on Friday. The company has a market capitalization of $898.60 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.40 and a beta of 0.98. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $366.50. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50-day moving average of $353.73 and a two-hundred day moving average of $325.34.

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 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The business had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $50.72 billion. During the same quarter in the previous year, the firm earned $4.96 EPS. The company's revenue was up 27.7% compared to the same quarter last year. On average, analysts forecast that JPMorgan Chase & Co. will post 24.3 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th will be paid a $1.65 dividend. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. This represents a $6.60 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 25.71%.

Wall Street Analysts Forecast Growth

Several analysts have commented on JPM shares. Jefferies Financial Group dropped their price objective on JPMorgan Chase & Co. from $370.00 to $365.00 and set a "hold" rating on the stock in a report on Thursday. Zacks Research lowered shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 14th. Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $375.00 to $390.00 and gave the stock an "overweight" rating in a report on Friday, August 14th. Morgan Stanley reiterated a "positive" rating and set a $370.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft raised shares of JPMorgan Chase & Co. from a "hold" rating to a "buy" rating and set a $375.00 target price on the stock in a research note on Wednesday, July 22nd. Sixteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $360.58.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $352.81, for a total transaction of $882,025.00. Following the completion of the sale, the insider directly owned 71,047 shares of the company's stock, valued at approximately $25,066,092.07. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: Cross-border payments expansion: JPMorgan Payments is partnering with Thunes to provide faster payouts to bank accounts and mobile wallets across more than 100 corridors. The initiative could expand transaction volumes and strengthen JPM’s global payments franchise. JPMorgan Payments brings faster cross-border payments to more markets
• Positive Sentiment: Asset-management growth: JPMorgan Asset Management announced a $200 million sustainable-forestry investment in Paraguay and recently secured a reported $20 billion multi-market investment partnership with Qatar Investment Authority. These developments could support fee income and reinforce JPM’s global asset-gathering platform. Paraguay sustainable forestry investment
• Positive Sentiment: Potential card expansion: JPMorgan is exploring a private-credit “second-look” model that could allow outside lenders to fund some applicants the bank declines. The approach may increase card reach and fee revenue while transferring some credit risk, though execution and regulatory considerations remain. Private credit and JPMorgan’s card business
• Neutral Sentiment: Analyst view: JPMorgan strategist Grace Peters remains constructive on equities despite higher bond yields, but the comments are broad market guidance rather than a direct change to JPM’s earnings outlook. JPMorgan’s Peters favors stocks
• Negative Sentiment: Jefferies trims valuation target: Jefferies lowered its JPMorgan price target to $365 from $370 while retaining a “Hold” rating. The reduction signals limited perceived upside after the stock’s strong run and is the clearest near-term negative catalyst. Jefferies adjusts JPMorgan price target

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, lending, payments, investment banking, asset management and wealth management services to consumers, businesses, institutional clients and governments.

The company operates through four primary business areas: Consumer & Community Banking; Commercial & Investment Banking; Asset & Wealth Management; and Corporate. Its offerings include deposit accounts, credit cards, mortgages, auto loans, business banking, commercial lending, treasury services, investment banking, securities trading, investment management and private banking.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across numerous international markets.

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.