JPMorgan Chase & Co. (NYSE:JPM) Position Lowered by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 216,398 shares of the financial services provider’s stock after selling 3,154 shares during the period. JPMorgan Chase & Co. accounts for about 1.3% of Kentucky Retirement Systems’ investment portfolio, making the stock its 11th biggest holding. Kentucky Retirement Systems’ holdings in JPMorgan Chase & Co. were worth $43,769,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Retirement Group LLC boosted its holdings in shares of JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares during the period. Fairway Wealth LLC acquired a new position in JPMorgan Chase & Co. in the second quarter valued at approximately $32,000. Richardson Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $34,000. Anfield Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $34,000. Finally, Davidson Capital Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $211.09 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The business’s 50-day moving average price is $211.61 and its 200 day moving average price is $201.81. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48. The firm has a market cap of $606.18 billion, a P/E ratio of 11.77, a PEG ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter in the previous year, the company posted $4.37 EPS. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. JPMorgan Chase & Co.’s dividend payout ratio is 25.66%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Evercore ISI upped their price objective on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Citigroup lifted their price objective on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Oppenheimer upped their target price on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, BMO Capital Markets lifted their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $211.06.

JPMorgan Chase & Co. Company Profile

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.