JPMorgan Chase & Co. $JPM Position Decreased by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in JPMorgan Chase & Co. by 9.4%, now owning approximately 949,942 shares valued at $233 million, making it the company's 14th largest position.
• Analysts have varied opinions on JPMorgan, with some upgrades and a consensus rating of "Moderate Buy", and an average price target of $288.68.
• Insider activity shows significant sales, with COO Jennifer Piepszak selling over 6,000 shares at an average price of $262.47, reflecting a substantial decrease in their ownership.

State of New Jersey Common Pension Fund D lessened its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 9.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 949,942 shares of the financial services provider's stock after selling 98,747 shares during the quarter. JPMorgan Chase & Co. accounts for 1.0% of State of New Jersey Common Pension Fund D's investment portfolio, making the stock its 14th largest position. State of New Jersey Common Pension Fund D's holdings in JPMorgan Chase & Co. were worth $233,021,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in JPM. MJT & Associates Financial Advisory Group Inc. acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $28,000. University of Illinois Foundation acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $30,000. Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $33,000. Measured Risk Portfolios Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $44,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $54,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target on the stock. in a research report on Friday, June 27th. Truist Financial lifted their price target on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a research report on Monday, July 7th. Finally, TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM traded up $2.20 on Wednesday, reaching $292.86. 4,356,555 shares of the company's stock were exchanged, compared to its average volume of 9,846,833. The firm has a market capitalization of $805.29 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.94 and a beta of 1.11. JPMorgan Chase & Co. has a fifty-two week low of $200.61 and a fifty-two week high of $301.29. The business's 50-day moving average is $287.35 and its two-hundred day moving average is $263.91. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued 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 for the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm's revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company earned $6.12 earnings per share. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insider Activity at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, the chief operating officer owned 62,455 shares in the company, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Company Profile

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.