Teacher Retirement System of Texas Sells 128,942 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Teacher Retirement System of Texas reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 12.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 945,560 shares of the financial services provider's stock after selling 128,942 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.0% of Teacher Retirement System of Texas' holdings, making the stock its 13th largest position. Teacher Retirement System of Texas' holdings in JPMorgan Chase & Co. were worth $231,946,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Redwood Park Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $29,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth about $33,000. Sellwood Investment Partners LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $34,000. Investment Counsel Co. of Nevada acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $37,000. Finally, Prudent Man Investment Management Inc. acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $43,000. 71.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was 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 directly owned 62,455 shares in the company, valued at $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the transaction, the chief financial officer owned 18,017 shares of the company's stock, valued at approximately $4,518,123.09. This trade represents a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock valued at $18,060,015 in the last quarter. Company insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on JPM shares. Evercore ISI set a $298.00 target price on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday. Wells Fargo & Company reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Monday. Morgan Stanley set a $240.00 target price on JPMorgan Chase & Co. and gave the stock an "equal weight" rating in a report on Monday. Piper Sandler reissued a "hold" rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Finally, Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $280.45.

JPMorgan Chase & Co. Stock Down 0.5%

Shares of JPMorgan Chase & Co. stock traded down $1.41 during trading on Friday, hitting $286.78. 7,243,690 shares of the stock traded hands, compared to its average volume of 9,558,124. The company has a fifty day moving average price of $270.30 and a two-hundred day moving average price of $255.98. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $296.40. 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 stock has a market cap of $796.99 billion, a P/E ratio of 14.08, a PEG ratio of 2.62 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The firm had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same period in the previous year, the company earned $4.44 EPS. The company's revenue for the quarter was up 8.0% on a year-over-year basis. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.95%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 27.49%.

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.