Retirement Systems of Alabama Trims Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Retirement Systems of Alabama lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 922,686 shares of the financial services provider's stock after selling 33,679 shares during the period. JPMorgan Chase & Co. comprises about 0.9% of Retirement Systems of Alabama's portfolio, making the stock its 14th largest holding. Retirement Systems of Alabama's holdings in JPMorgan Chase & Co. were worth $226,335,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $8,310,884,000. GAMMA Investing LLC increased its stake in shares of JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares in the last quarter. Northern Trust Corp increased its stake in shares of JPMorgan Chase & Co. by 15.4% in 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 purchasing an additional 4,515,147 shares in the last quarter. Proficio Capital Partners LLC increased its stake in shares of JPMorgan Chase & Co. by 34,259.3% in the 4th quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider's stock valued at $838,865,000 after purchasing an additional 3,489,314 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of JPMorgan Chase & Co. by 31.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock valued at $2,561,256,000 after purchasing an additional 2,551,899 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.3%

Shares of NYSE:JPM opened at $274.74 on Monday. The stock has a market capitalization of $763.52 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 2.57 and a beta of 1.08. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $280.25. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. The company has a 50 day moving average price of $256.36 and a 200 day moving average price of $251.50.

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 EPS for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same quarter last year, the business posted $4.44 EPS. The company's revenue was up 8.0% on a year-over-year basis. On average, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.04%. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.49%.

Insider Activity

In related news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction 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 now owns 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the transaction, the chief financial officer now owns 18,017 shares in the company, valued at $4,518,123.09. This trade represents a 68.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on JPM. Royal Bank Of Canada reiterated a "hold" rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Finally, Bank of America increased their price target on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $271.70.

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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