New York State Teachers Retirement System Lowers Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• New York State Teachers Retirement System cut its JPMorgan Chase stake by 3.4% in the fourth quarter, selling 77,334 shares and leaving it with 2,164,927 shares worth about $697.6 million. JPMorgan still makes up about 1.4% of the fund’s portfolio and is its 11th largest holding.
• Despite some institutional trimming, hedge funds and other investors remain heavily invested in JPMorgan, with 71.55% of shares owned by institutions. Several firms increased their positions during the period.
• JPMorgan recently posted strong quarterly results, beating earnings and revenue estimates, while also paying a quarterly dividend of $1.50 per share. Analysts currently rate the stock a Moderate Buy with a consensus price target of $338.12.

New York State Teachers Retirement System lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,164,927 shares of the financial services provider's stock after selling 77,334 shares during the period. JPMorgan Chase & Co. accounts for about 1.4% of New York State Teachers Retirement System's investment portfolio, making the stock its 11th biggest holding. New York State Teachers Retirement System owned approximately 0.08% of JPMorgan Chase & Co. worth $697,583,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Howard Capital Management Inc. raised its stake in JPMorgan Chase & Co. by 18.2% in the fourth quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider's stock valued at $8,308,000 after buying an additional 3,976 shares during the last quarter. Andra AP fonden lifted its stake in JPMorgan Chase & Co. by 3.2% during the 3rd quarter. Andra AP fonden now owns 107,700 shares of the financial services provider's stock valued at $33,972,000 after acquiring an additional 3,300 shares during the period. Newbridge Financial Services Group Inc. lifted its position in JPMorgan Chase & Co. by 51.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider's stock valued at $2,862,000 after purchasing an additional 3,027 shares during the period. Banco Santander S.A. boosted its stake in shares of JPMorgan Chase & Co. by 9.0% in the third quarter. Banco Santander S.A. now owns 452,612 shares of the financial services provider's stock worth $142,767,000 after buying an additional 37,550 shares during the last quarter. Finally, Brighton Jones LLC boosted its position in JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after purchasing an additional 4,841 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: Erste Group raised its FY2027 earnings-per-share estimate for JPMorgan, implying expectations for continued profit strength ahead. JPMorgan Chase & Co. trading and earnings background
• Positive Sentiment: JPMorgan’s role in the first near real-time cross-border tokenized U.S. Treasury redemption with Ripple, Mastercard, and Ondo highlights innovation in blockchain-based settlement and could support long-term growth in payments and markets infrastructure. Ondo, JPMorgan, Mastercard & Ripple complete cross-border Treasury redemption
• Neutral Sentiment: JPMorgan disclosed a new preferred stock issuance and also reported a new 3.06% stake in Umicore, both of which are mostly capital-management and portfolio moves rather than direct operating catalysts. JPMorgan Issues New Series PP Preferred Stock
• Neutral Sentiment: JPMorgan remains in the news for research and commentary, including warnings from CEO Jamie Dimon about a possible bond-market crisis and the bank’s view that U.S. grid failures disproportionately hurt lower-income households. These are important macro views, but they do not immediately change JPM’s fundamentals. Jamie Dimon warns of bond crisis
• Negative Sentiment: JPMorgan is facing lawsuit risk after being sued alongside Citigroup over frozen payments tied to a sanctioned Chinese firm, which raises regulatory and legal uncertainty for the bank. JPMorgan, Citi sued for frozen payments to sanctioned China firm
• Negative Sentiment: Asset Management One disclosed it trimmed its JPM position, adding to signs of some institutional profit-taking in the name. Fund update showing decrease in JPM shares

JPMorgan Chase & Co. Trading Down 0.1%

JPM opened at $301.93 on Monday. The business has a fifty day moving average price of $299.69 and a 200 day moving average price of $307.26. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. JPMorgan Chase & Co. has a 12 month low of $252.34 and a 12 month high of $337.25. The stock has a market capitalization of $809.04 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.47 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm had revenue of $50.54 billion for the quarter, compared to analysts' expectations of $48.30 billion. During the same quarter last year, the company earned $5.07 earnings per share. The firm's revenue was up 10.0% compared to the same quarter last year. Sell-side analysts expect that JPMorgan Chase & Co. will post 22.42 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 6th were issued a $1.50 dividend. The ex-dividend date was Monday, April 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.74%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Barclays reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 6th. Autonomous Res lowered their target price on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a "neutral" rating on the stock in a research note on Monday, April 6th. Daiwa Securities Group lowered their target price on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. HSBC upped their price objective on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a "hold" rating in a report on Monday, May 4th. Finally, Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Sunday, January 18th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and a consensus price target of $338.12.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,404 shares of the firm's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $306.40, for a total transaction of $1,042,985.60. Following the sale, the general counsel owned 61,949 shares of the company's stock, valued at approximately $18,981,173.60. This trade represents a 5.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Troy L. Rohrbaugh sold 50,000 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $307.11, for a total transaction of $15,355,500.00. Following the sale, the chief executive officer owned 111,279 shares in the company, valued at $34,174,893.69. This represents a 31.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 79,849 shares of company stock valued at $24,522,956 over the last three months. 0.41% of the stock is currently owned by insiders.

JPMorgan Chase & Co. 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.

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