New York State Teachers Retirement System Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

New York State Teachers Retirement System cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,319,541 shares of the financial services provider's stock after selling 117,082 shares during the quarter. JPMorgan Chase & Co. comprises about 1.3% of New York State Teachers Retirement System's holdings, making the stock its 11th largest position. New York State Teachers Retirement System owned 0.08% of JPMorgan Chase & Co. worth $568,983,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of JPM. Geode Capital Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock valued at $14,161,171,000 after purchasing an additional 876,417 shares during the period. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $8,310,884,000. Northern Trust Corp lifted its position in shares of JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after acquiring an additional 4,515,147 shares during the period. GAMMA Investing LLC boosted its stake in JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after acquiring an additional 23,465,278 shares in the last quarter. Finally, Capital Research Global Investors grew its holdings in JPMorgan Chase & Co. by 9.1% in the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider's stock worth $5,475,223,000 after purchasing an additional 1,914,049 shares during the period. Institutional investors own 71.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on JPM. Citigroup reiterated a "neutral" rating and set a $275.00 price objective (up previously from $250.00) on shares of JPMorgan Chase & Co. in a report on Wednesday, June 25th. Morgan Stanley increased their price target on JPMorgan Chase & Co. from $236.00 to $240.00 and gave the stock an "equal weight" rating in a report on Monday, June 23rd. Piper Sandler reaffirmed a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. UBS Group increased their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Finally, TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 price target for the company. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $277.74.

Insider Transactions at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 40,014 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the sale, the chief financial officer directly owned 18,017 shares in the company, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Stacey Friedman sold 2,821 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the transaction, the general counsel owned 68,757 shares of the company's stock, valued at $18,269,422.47. This represents a 3.94% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,200 shares of company stock valued at $18,060,015. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock traded up $4.13 during trading hours on Friday, hitting $296.13. 6,541,646 shares of the company's stock traded hands, compared to its average volume of 9,527,821. The stock has a market capitalization of $822.96 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 2.75 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $296.40. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. The company has a fifty day simple moving average of $266.97 and a 200-day simple moving average of $254.56.

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

JPMorgan Chase & Co. Announces Dividend

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

About JPMorgan Chase & Co.

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.