Strs Ohio Lowers Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Strs Ohio trimmed its JPMorgan stake by 6.4% in the fourth quarter, selling 78,995 shares and ending with 1,161,911 shares valued at about $374.4 million.
• JPMorgan posted strong quarterly results, reporting earnings of $5.94 per share and revenue of $50.54 billion, both above analyst expectations and up 10% from a year earlier.
• The bank remains supported by income and analyst sentiment, with a recent $1.50 quarterly dividend and a consensus Wall Street rating of “Moderate Buy” with a target price of $338.12.

Strs Ohio decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 6.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,161,911 shares of the financial services provider's stock after selling 78,995 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.4% of Strs Ohio's holdings, making the stock its 9th biggest holding. Strs Ohio's holdings in JPMorgan Chase & Co. were worth $374,391,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Legal & General Group Plc lifted its position in JPMorgan Chase & Co. by 3.3% during the 3rd quarter. Legal & General Group Plc now owns 18,908,978 shares of the financial services provider's stock worth $5,964,459,000 after buying an additional 607,025 shares in the last quarter. Fisher Asset Management LLC lifted its position in JPMorgan Chase & Co. by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 15,722,443 shares of the financial services provider's stock worth $4,959,330,000 after buying an additional 347,033 shares in the last quarter. Invesco Ltd. lifted its position in JPMorgan Chase & Co. by 2.3% during the 3rd quarter. Invesco Ltd. now owns 14,655,153 shares of the financial services provider's stock worth $4,622,675,000 after buying an additional 322,735 shares in the last quarter. Boston Partners lifted its position in JPMorgan Chase & Co. by 2.3% during the 3rd quarter. Boston Partners now owns 7,492,763 shares of the financial services provider's stock worth $2,360,045,000 after buying an additional 168,184 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in JPMorgan Chase & Co. by 0.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,809,417 shares of the financial services provider's stock worth $2,147,894,000 after buying an additional 31,421 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan is expanding further into crypto and tokenized funds, signaling it wants a bigger share of a rapidly growing market for tokenized assets. JPMorgan’s crypto push deepens with filing for tokenized fund
• Positive Sentiment: JPMorgan’s markets division is reportedly booming after a record quarter, reinforcing strength in a key profit driver. JPMorgan’s Markets Business Is Booming After Record Quarter
• Positive Sentiment: Analysts continue to highlight JPMorgan’s earnings power and dividend appeal, which can help support the stock’s valuation. JPMorgan Chase & Co. (JPM) is a Top Dividend Stock Right Now: Should You Buy?
• Neutral Sentiment: JPMorgan’s own strategists are staying constructive on stocks overall, saying profits are outweighing war risks and that inflation and macro volatility remain important themes for markets. JPMorgan’s Lakos-Bujas Says Profits Eclipse War Risks for Stocks
• Negative Sentiment: Jamie Dimon warned that higher UK bank taxes could cause JPMorgan to reconsider or scale back its planned multibillion-dollar London headquarters investment, raising policy risk around future expansion. Jamie Dimon just joined Ken Griffin in warning that taxes could curb expansion plans

Insiders Place Their Bets

In related news, insider Robin Leopold sold 433 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $295.06, for a total value of $127,760.98. Following the sale, the insider directly owned 64,920 shares in the company, valued at $19,155,295.20. This trade represents a 0.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Troy L. Rohrbaugh sold 50,000 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $307.11, for a total transaction of $15,355,500.00. Following the completion of the sale, the chief executive officer owned 111,279 shares in the company, valued at $34,174,893.69. This represents a 31.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 79,849 shares of company stock worth $24,522,956 over the last ninety days. Company insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $304.83 on Wednesday. The company has a market capitalization of $816.81 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 1.46 and a beta of 1.03. The firm's 50 day simple moving average is $299.65 and its 200 day simple moving average is $307.35. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. JPMorgan Chase & Co. has a fifty-two week low of $256.00 and a fifty-two week 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 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 net margin of 20.66% and a return on equity of 17.54%. JPMorgan Chase & Co.'s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the company posted $5.07 EPS. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 22.42 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Monday, April 6th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.74%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JPM. Autonomous Res reduced their price target on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a "neutral" rating on the stock in a research report on Monday, April 6th. HSBC upped their price target on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a "hold" rating in a research report on Monday, May 4th. Daiwa Securities Group reduced their price target on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 7th. Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Monday, May 4th. Finally, Piper Sandler raised their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. Fifteen research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and a consensus target price of $338.12.

JPMorgan Chase & Co. Company Profile

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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.