Public Employees Retirement System of Ohio Has $467.64 Million Stock Position in JPMorgan Chase & Co. $JPM

Public Employees Retirement System of Ohio grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 43.8% during the first quarter, Holdings Channel.com reports. The firm owned 1,589,736 shares of the financial services provider’s stock after buying an additional 484,284 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.5% of Public Employees Retirement System of Ohio’s portfolio, making the stock its 10th biggest position. Public Employees Retirement System of Ohio’s holdings in JPMorgan Chase & Co. were worth $467,637,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of JPM. Morgan Stanley increased its stake in JPMorgan Chase & Co. by 1.4% during the 4th quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock valued at $21,390,662,000 after buying an additional 939,421 shares during the period. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $11,396,496,000. Bank of New York Mellon Corp lifted its stake in shares of JPMorgan Chase & Co. by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock worth $7,547,837,000 after acquiring an additional 1,194,583 shares during the period. Legal & General Group Plc boosted its holdings in shares of JPMorgan Chase & Co. by 0.6% in the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock valued at $6,128,484,000 after acquiring an additional 110,586 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of JPMorgan Chase & Co. by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 18,968,884 shares of the financial services provider’s stock valued at $5,578,788,000 after acquiring an additional 607,288 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: Strong earnings momentum: JPMorgan’s record second-quarter performance, including sharply higher earnings and revenue that exceeded analyst expectations, has reinforced investor confidence in its lending, trading and investment-banking operations. JPMorgan and Goldman Posted Record Quarters
• Positive Sentiment: Rising earnings estimates: Analysts are increasing their profit forecasts for JPMorgan, a trend that can support further near-term gains as investors reassess the bank’s earnings outlook. Earnings Estimates Rising for JPMorgan Chase
• Positive Sentiment: New payments opportunity: South Korea’s KB Kookmin Bank plans to use JPMorgan’s Kinexys blockchain for cross-border U.S.-dollar payments across 10 countries. The agreement highlights potential growth for JPMorgan’s institutional payments and digital-assets infrastructure. South Korea’s Largest Bank to Launch Payment Service on JPMorgan’s Kinexys
• Positive Sentiment: AI and efficiency appeal: Analysts continue to view JPMorgan favorably as it applies artificial intelligence to reduce costs and improve productivity, while maintaining strong cash generation and a diversified revenue base. These 3 AI Winners Don’t Sell the Tech—They Use It
• Neutral Sentiment: CEO Jamie Dimon’s account of his 2020 health crisis is personal and does not materially change JPMorgan’s current earnings or valuation outlook. Jamie Dimon Reveals the Moment He Knew It Might Be Goodbye
• Negative Sentiment: Risk warnings temper optimism: Dimon cautioned that investors may be underestimating geopolitical, fiscal and valuation risks. Rising consumer credit-card delinquencies and unusually volatile markets also represent potential pressure on future loan quality and results. Jamie Dimon Said Markets Are Underestimating Risks

Wall Street Analyst Weigh In

JPM has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their target price on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Zacks Research upgraded JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Daiwa Securities Group dropped their price objective on JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Finally, Morgan Stanley restated a “positive” rating and issued a $370.00 price objective on shares of JPMorgan Chase & Co. in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $358.67.

Insider Activity

In other news, General Counsel Stacey Friedman sold 5,467 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of the sale, the general counsel directly owned 40,961 shares of the company’s stock, valued at $13,547,031.53. This trade represents a 11.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the transaction, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. The trade was a 8.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 18,876 shares of company stock worth $5,907,051. Insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.8%

NYSE JPM opened at $356.15 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.86. The company’s 50 day simple moving average is $324.84 and its 200 day simple moving average is $311.12. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $359.05. The company has a market capitalization of $954.30 billion, a P/E ratio of 15.26, a PEG ratio of 1.47 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.59 by $0.55. The business had revenue of $58.02 billion during the quarter, compared to analyst estimates of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The business’s quarterly revenue was up 27.7% on a year-over-year basis. During the same period in the prior year, the business earned $4.96 earnings per share. Equities research analysts expect that JPMorgan Chase & Co. will post 23.97 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is 25.71%.

JPMorgan Chase & Co. 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.