Teacher Retirement System of Texas Lowers Stake in JPMorgan Chase & Co. (NYSE:JPM)

Teacher Retirement System of Texas cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 12.0% during the first quarter, according to its most recent Form 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' investment portfolio, making the stock its 13th biggest holding. Teacher Retirement System of Texas' holdings in JPMorgan Chase & Co. were worth $231,946,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $29,000. Curat Global LLC purchased a new position in JPMorgan Chase & Co. during the first quarter valued at $33,000. Sellwood Investment Partners LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter worth about $34,000. Investment Counsel Co. of Nevada acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $37,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $43,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

JPM traded up $4.98 on Thursday, reaching $288.14. The company had a trading volume of 8,404,198 shares, compared to its average volume of 9,567,150. The stock has a market capitalization of $800.76 billion, a PE ratio of 14.15, a P/E/G ratio of 2.62 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $296.40. The stock has a 50-day moving average price of $269.48 and a 200-day moving average price of $255.64.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly 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 the consensus estimate of $43.62 billion. During the same period last year, the company earned $4.44 earnings per share. The company's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors 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 annualized dividend and a yield of 1.94%. JPMorgan Chase & Co.'s dividend payout ratio is presently 27.49%.

Insider Transactions at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,129 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total value of $1,536,908.04. Following the sale, the chief operating officer owned 68,583 shares of the company's stock, valued at approximately $17,197,873.08. This represents a 8.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the sale, the director owned 91,539 shares in the company, valued at approximately $22,884,750. This trade represents a 9.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,200 shares of company stock worth $18,060,015. Corporate insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on JPM shares. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. HSBC reissued a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Piper Sandler reissued a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Finally, Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, June 30th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $280.45.

JPMorgan Chase & Co. 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.