JPMorgan Chase & Co. $JPM Shares Sold by Louisiana State Employees Retirement System

Key Points

• The Louisiana State Employees Retirement System reduced its stake in JPMorgan Chase & Co. by 2.5% in the second quarter, now holding 146,600 shares valued at approximately $42.5 million.
• Analysts have issued mixed ratings on JPMorgan, with several firms downgraded their outlook, while UBS raised its price target to $350.00 and reaffirmed a "buy" rating.
• JPMorgan Chase recently announced a quarterly dividend increase to $1.50 per share, representing an annual yield of 2.0%.

Louisiana State Employees Retirement System lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 146,600 shares of the financial services provider's stock after selling 3,800 shares during the period. JPMorgan Chase & Co. makes up 0.8% of Louisiana State Employees Retirement System's investment portfolio, making the stock its 13th largest holding. Louisiana State Employees Retirement System's holdings in JPMorgan Chase & Co. were worth $42,501,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Sax Wealth Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 7.4% in the 2nd quarter. Sax Wealth Advisors LLC now owns 20,729 shares of the financial services provider's stock worth $6,010,000 after acquiring an additional 1,434 shares during the period. BankPlus Trust Department lifted its stake in shares of JPMorgan Chase & Co. by 10.8% in the 2nd quarter. BankPlus Trust Department now owns 14,627 shares of the financial services provider's stock worth $4,241,000 after acquiring an additional 1,430 shares during the period. Penney Financial LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth $202,000. Canopy Partners LLC lifted its stake in shares of JPMorgan Chase & Co. by 0.9% in the 2nd quarter. Canopy Partners LLC now owns 14,738 shares of the financial services provider's stock worth $4,273,000 after acquiring an additional 125 shares during the period. Finally, SGL Investment Advisors Inc. lifted its stake in shares of JPMorgan Chase & Co. by 1.3% in the 2nd quarter. SGL Investment Advisors Inc. now owns 21,263 shares of the financial services provider's stock worth $6,013,000 after acquiring an additional 268 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on JPM. Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price for the company. in a research note on Friday, June 27th. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Zacks Research cut shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. UBS Group raised their price objective on shares of JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Finally, Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Fifteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of "Hold" and an average target price of $319.40.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $305.94 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm has a 50-day moving average price of $302.40 and a two-hundred day moving average price of $277.80. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. The company has a market capitalization of $841.24 billion, a P/E ratio of 15.15, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm had revenue of $46.43 billion during the quarter, compared to the consensus estimate of $44.42 billion. During the same period last year, the firm posted $4.37 EPS. The firm's revenue for the quarter was up 8.8% on a year-over-year basis. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is 30.79%.

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.

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