State of Michigan Retirement System Sells 30,900 Shares of JPMorgan Chase & Co. $JPM

Key Points

• State of Michigan Retirement System trimmed its stake in JPMorgan by 3.3%, selling 30,900 shares and leaving it with 912,731 shares worth about $294.1 million (1.4% of the fund, its 12th-largest holding).
• Other institutional investors have been active—Danske Bank started a roughly $697 million stake and several large funds (Holocene, Viking, CalPERS, Legal & General) materially increased positions, leaving about 71.55% of JPM owned by hedge funds and institutions.
• JPMorgan reported a strong quarter (EPS $5.94 vs. $5.50 expected; revenue $50.54B, up 10% YoY), pays a $1.50 quarterly dividend (2.0% yield), and holds a consensus analyst rating of Moderate Buy with an average price target of $338.12.

State of Michigan Retirement System trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 912,731 shares of the financial services provider's stock after selling 30,900 shares during the period. JPMorgan Chase & Co. comprises 1.4% of State of Michigan Retirement System's holdings, making the stock its 12th biggest holding. State of Michigan Retirement System's holdings in JPMorgan Chase & Co. were worth $294,100,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Danske Bank A S purchased a new stake in shares of JPMorgan Chase & Co. in the third quarter worth approximately $696,885,000. Holocene Advisors LP boosted its holdings in JPMorgan Chase & Co. by 1,033.3% during the 3rd quarter. Holocene Advisors LP now owns 2,155,120 shares of the financial services provider's stock valued at $679,790,000 after acquiring an additional 1,964,958 shares during the period. Viking Global Investors LP grew its position in JPMorgan Chase & Co. by 86.1% in the 2nd quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider's stock valued at $1,171,826,000 after acquiring an additional 1,870,386 shares during the last quarter. California Public Employees Retirement System grew its position in JPMorgan Chase & Co. by 19.6% in the 3rd quarter. California Public Employees Retirement System now owns 6,615,749 shares of the financial services provider's stock valued at $2,086,806,000 after acquiring an additional 1,082,913 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in JPMorgan Chase & Co. by 3.3% in the third quarter. Legal & General Group Plc now owns 18,908,978 shares of the financial services provider's stock worth $5,964,459,000 after purchasing an additional 607,025 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan participated in a cross‑border pilot to settle tokenized U.S. Treasuries in near real‑time with Ripple, Mastercard and Ondo Finance — a concrete step toward fee‑generating blockchain services and faster settlement capabilities. JPMorgan Weighs Tokenized Treasury Pilot
• Positive Sentiment: JPMorgan issued a new series of preferred stock (Series PP, 6.100% fixed‑rate reset) — a capital‑raising move that supports regulatory capital ratios and liquidity positioning. JPMorgan Issues New Series PP Preferred Stock
• Positive Sentiment: Broker commentary remains largely constructive (Barclays reaffirmed Buy; HSBC and others adjusted targets), which can support investor confidence even as price targets shift. HSBC adjusts price target on JPMorgan
• Neutral Sentiment: JPMorgan issued guidance allowing employees to use prediction markets under rules — a governance/policy change that reduces ambiguity but has limited direct near‑term earnings impact. JPMorgan Clears the Way for Employees to Trade on Prediction Markets
• Neutral Sentiment: UBS trimmed its price target slightly (from $380 to $375) — a modest calibration that highlights differing analyst views but leaves consensus still above current levels. UBS adjusts JPMorgan Chase price target
• Negative Sentiment: JPMorgan and Citigroup were sued by Chinese firm HY Energy over frozen payments tied to U.S. sanctions — a legal/regulatory dispute with potential financial and reputational implications for cross‑border payment flows. JPMorgan, Citi Sued for Frozen Payments
• Negative Sentiment: Reporting shows JPMorgan tried to privately settle harassment accusations against an executive — renewed reputational/legal scrutiny that can pressure sentiment and invite regulatory or litigation costs. JPMorgan Tried to Settle Harassment Accusations
• Negative Sentiment: Insider selling: CFO Jeremy Barnum (and other senior execs) executed Rule 10b5‑1 sales in recent days — routine in many cases but sometimes interpreted by markets as signal for caution. Barnum SEC filing

Analyst Ratings Changes

JPM has been the subject of a number of research analyst reports. Piper Sandler lifted their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. Wells Fargo & Company dropped their target price on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 17th. DZ Bank reaffirmed a "neutral" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Freedom Capital upgraded JPMorgan Chase & Co. to a "hold" rating in a report on Wednesday, January 14th. Finally, Royal Bank Of Canada reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Monday. Fifteen analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and an average price target of $338.12.

JPMorgan Chase & Co. Stock Down 2.7%

JPMorgan Chase & Co. stock opened at $306.44 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. The firm has a market cap of $821.10 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.53 and a beta of 1.03. The business has a fifty day moving average of $299.69 and a two-hundred day moving average of $307.26. JPMorgan Chase & Co. has a twelve month low of $251.55 and a twelve month high of $337.25.

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

JPMorgan Chase & Co. Dividend Announcement

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

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,404 shares of the business's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $306.40, for a total value of $1,042,985.60. Following the completion of the transaction, the general counsel directly owned 61,949 shares in the company, valued at approximately $18,981,173.60. The trade was a 5.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robin Leopold sold 433 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $295.06, for a total transaction of $127,760.98. Following the sale, the insider directly owned 64,920 shares of the company's stock, valued at approximately $19,155,295.20. The trade was a 0.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 79,849 shares of company stock valued at $24,522,956 over the last three months. Corporate insiders own 0.41% of the company's stock.

About JPMorgan Chase & Co.

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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