Public Employees Retirement System of Ohio Sells 24,313 Shares of JPMorgan Chase & Co. $JPM

Key Points

• The Public Employees Retirement System of Ohio has reduced its stake in JPMorgan Chase & Co. by selling 24,313 shares, now holding 1,152,256 shares worth approximately $334 million.
• JPMorgan Chase announced a quarterly dividend increase from $1.40 to $1.50 per share, with a yield of 1.9% and the next payout scheduled for October 31.
• The company's stock has experienced fluctuations, recently trading around $316.12, with a market cap of $869.25 billion and a P/E ratio of 16.22.

Public Employees Retirement System of Ohio reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,152,256 shares of the financial services provider's stock after selling 24,313 shares during the quarter. JPMorgan Chase & Co. comprises about 1.1% of Public Employees Retirement System of Ohio's investment portfolio, making the stock its 12th biggest position. Public Employees Retirement System of Ohio's holdings in JPMorgan Chase & Co. were worth $334,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Chronos Wealth Management LLC boosted its position in shares of JPMorgan Chase & Co. by 0.3% during the second quarter. Chronos Wealth Management LLC now owns 41,187 shares of the financial services provider's stock valued at $11,941,000 after buying an additional 125 shares during the period. EWG Elevate Inc. boosted its position in shares of JPMorgan Chase & Co. by 14.6% during the second quarter. EWG Elevate Inc. now owns 1,556 shares of the financial services provider's stock valued at $451,000 after buying an additional 198 shares during the period. RVW Wealth LLC boosted its position in shares of JPMorgan Chase & Co. by 18.2% during the second quarter. RVW Wealth LLC now owns 4,715 shares of the financial services provider's stock valued at $1,367,000 after buying an additional 727 shares during the period. Northside Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. by 751.5% during the second quarter. Northside Capital Management LLC now owns 61,152 shares of the financial services provider's stock valued at $17,729,000 after buying an additional 53,970 shares during the period. Finally, IMS Capital Management purchased a new position in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $2,812,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Up 0.9%

JPMorgan Chase & Co. stock opened at $316.12 on Friday. The business has a fifty day moving average of $298.96 and a two-hundred day moving average of $271.68. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a market cap of $869.25 billion, a P/E ratio of 16.22, a P/E/G ratio of 2.07 and a beta of 1.13. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $317.81.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.JPMorgan Chase & Co.'s revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.12 earnings per share. On average, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business 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. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

Analyst Upgrades and Downgrades

JPM has been the subject of several recent analyst reports. Royal Bank Of Canada restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Thursday, September 11th. Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target for the company. in a report on Friday, June 27th. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Finally, TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Thirteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $297.17.

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.

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