Teachers Retirement System of The State of Kentucky Purchases 2,867 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• The Teachers Retirement System of Kentucky increased its stake in JPMorgan Chase & Co. by 0.6%, holding a total of 460,170 shares valued at $112.88 million.
• JPMorgan recently announced a quarterly dividend of $1.40 per share, yielding 1.88% on an annualized basis.
• Despite a decline in year-over-year revenue, JPMorgan Chase reported $4.96 EPS for the last quarter, surpassing expectations of $4.48 EPS.

Teachers Retirement System of The State of Kentucky lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 460,170 shares of the financial services provider's stock after acquiring an additional 2,867 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.0% of Teachers Retirement System of The State of Kentucky's holdings, making the stock its 8th biggest holding. Teachers Retirement System of The State of Kentucky's holdings in JPMorgan Chase & Co. were worth $112,879,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. J.W. Cole Advisors Inc. boosted its position in JPMorgan Chase & Co. by 62.7% during the first quarter. J.W. Cole Advisors Inc. now owns 93,952 shares of the financial services provider's stock valued at $23,046,000 after purchasing an additional 36,212 shares in the last quarter. BKM Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. by 5.9% during the 1st quarter. BKM Wealth Management LLC now owns 17,296 shares of the financial services provider's stock worth $4,243,000 after acquiring an additional 961 shares in the last quarter. Integrated Capital Management LLC lifted its position in JPMorgan Chase & Co. by 1.1% during the first quarter. Integrated Capital Management LLC now owns 8,712 shares of the financial services provider's stock valued at $2,137,000 after acquiring an additional 95 shares during the last quarter. IFP Advisors Inc boosted its stake in JPMorgan Chase & Co. by 3.6% in the first quarter. IFP Advisors Inc now owns 45,720 shares of the financial services provider's stock valued at $11,215,000 after acquiring an additional 1,577 shares in the last quarter. Finally, Aspen Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the first quarter worth $1,050,000. Institutional investors own 71.55% of the company's stock.

Insider Transactions at JPMorgan Chase & Co.

In other news, CFO Jeremy Barnum sold 40,014 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the transaction, the chief financial officer directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Stacey Friedman sold 2,821 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the sale, the general counsel owned 68,757 shares of the company's stock, valued at approximately $18,269,422.47. The trade was a 3.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,200 shares of company stock valued at $18,060,015. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM traded up $2.59 during trading hours on Wednesday, reaching $299.63. The company had a trading volume of 8,046,594 shares, compared to its average volume of 8,322,348. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $301.29. The business's 50 day moving average price is $279.75 and its 200-day moving average price is $260.92. The firm has a market cap of $832.70 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The business's quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $6.12 EPS. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.87%. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on JPM shares. Hsbc Global Res cut JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. HSBC reissued a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of 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, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $288.68.

About JPMorgan Chase & Co.

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.