JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board reduced its stake in JPMorgan Chase & Co. by 7.1%, now holding approximately 1.1 million shares valued at $270,966,000, which accounts for about 1.2% of its total holdings.
• JPMorgan Chase's stock is currently trading at $290.48, down 1.3%, with a market capitalization of $798.75 billion and a dividend yield of 1.9%.
• Recent analysts' ratings have resulted in a mixed outlook, with target prices ranging from $235.00 to $325.00 and a consensus rating of "Moderate Buy".

Public Sector Pension Investment Board cut its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 7.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,104,633 shares of the financial services provider's stock after selling 83,846 shares during the quarter. JPMorgan Chase & Co. comprises about 1.2% of Public Sector Pension Investment Board's holdings, making the stock its 11th biggest holding. Public Sector Pension Investment Board's holdings in JPMorgan Chase & Co. were worth $270,966,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in JPM. MJT & Associates Financial Advisory Group Inc. purchased a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $28,000. University of Illinois Foundation purchased a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $30,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $33,000. Measured Risk Portfolios Inc. bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $44,000. Finally, Minot DeBlois Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $54,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM traded down $3.68 during midday trading on Friday, hitting $290.48. The company's stock had a trading volume of 7,339,238 shares, compared to its average volume of 7,940,475. JPMorgan Chase & Co. has a fifty-two week low of $200.61 and a fifty-two week high of $301.29. The firm's 50 day moving average is $286.42 and its 200-day moving average is $263.59. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $798.75 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.93 and a beta of 1.11.

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

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

Wall Street Analyst Weigh In

JPM has been the topic of several recent analyst reports. Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective on the stock. in a research report on Friday, June 27th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Finally, Truist Financial upped their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $288.68.

Insider Activity at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 2,821 shares of the stock in a transaction that occurred on 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 in the company, valued at $18,269,422.47. This trade represents a 3.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the transaction, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,557 shares of company stock worth $4,113,796. Insiders own 0.47% of the company's stock.

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.