JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 967,142 shares of the financial services provider’s stock after selling 45,782 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.8% of Retirement Systems of Alabama’s portfolio, making the stock its 15th largest position. Retirement Systems of Alabama’s holdings in JPMorgan Chase & Co. were worth $203,932,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of JPM. Oddo BHF Asset Management Sas acquired a new position in JPMorgan Chase & Co. in the third quarter valued at $6,031,000. Inspire Trust Co. N.A. boosted its stake in JPMorgan Chase & Co. by 12.8% in the third quarter. Inspire Trust Co. N.A. now owns 19,309 shares of the financial services provider’s stock valued at $4,071,000 after acquiring an additional 2,192 shares in the last quarter. Old North State Trust LLC boosted its stake in JPMorgan Chase & Co. by 3.0% in the third quarter. Old North State Trust LLC now owns 4,017 shares of the financial services provider’s stock valued at $847,000 after acquiring an additional 117 shares in the last quarter. Franklin Resources Inc. boosted its stake in JPMorgan Chase & Co. by 7.2% in the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after acquiring an additional 1,016,289 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its stake in JPMorgan Chase & Co. by 57.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 363,152 shares of the financial services provider’s stock valued at $76,574,000 after acquiring an additional 132,987 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the subject of several research analyst reports. Citigroup upped their price objective on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Barclays increased their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Royal Bank of Canada increased their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Daiwa Capital Markets decreased their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $234.81.

JPMorgan Chase & Co. Trading Up 0.3 %

Shares of JPMorgan Chase & Co. stock opened at $242.23 on Friday. JPMorgan Chase & Co. has a 12-month low of $161.71 and a 12-month high of $254.31. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock has a market cap of $681.96 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. The company has a 50-day moving average of $233.51 and a two-hundred day moving average of $216.37.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. During the same period last year, the company posted $4.33 EPS. The company’s revenue was up 6.5% on a year-over-year basis. On average, research analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a yield of 2.06%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.82%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.