New York State Common Retirement Fund Has $731.16 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Apr 19th, 2023

New York State Common Retirement Fund grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,452,358 shares of the financial services provider’s stock after acquiring an additional 35,082 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.0% of New York State Common Retirement Fund’s investment portfolio, making the stock its 10th biggest position. New York State Common Retirement Fund owned 0.19% of JPMorgan Chase & Co. worth $731,161,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Retirement Financial Solutions LLC bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $26,000. Creative Capital Management Investments LLC bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $30,000. VitalStone Financial LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $58,000. Marshall & Sullivan Inc. WA acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $60,000. Finally, Iron Horse Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 9,000.0% in the 4th quarter. Iron Horse Wealth Management LLC now owns 455 shares of the financial services provider’s stock valued at $61,000 after buying an additional 450 shares during the period. 67.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Mellody L. Hobson bought 375 shares of the firm’s stock in a transaction on Thursday, January 19th. The stock was acquired at an average price of $134.53 per share, with a total value of $50,448.75. Following the completion of the purchase, the director now owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.79% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $141.40 on Wednesday. The company has a 50-day simple moving average of $134.90 and a two-hundred day simple moving average of $131.71. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 1.07. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $144.34. The firm has a market cap of $414.51 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 2.18 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its quarterly earnings data on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, beating the consensus estimate of $3.41 by $0.69. The firm had revenue of $38.35 billion during the quarter, compared to the consensus estimate of $35.77 billion. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The company’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.63 earnings per share. On average, equities analysts forecast that JPMorgan Chase & Co. will post 12.73 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Thursday, April 6th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Wednesday, April 5th. JPMorgan Chase & Co.’s payout ratio is currently 29.52%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on JPM shares. Bank of America lifted their price target on JPMorgan Chase & Co. from $152.00 to $158.00 and gave the company a “buy” rating in a research note on Monday. Morgan Stanley boosted their target price on JPMorgan Chase & Co. from $153.00 to $157.00 and gave the stock an “overweight” rating in a research note on Monday. Evercore ISI cut their target price on JPMorgan Chase & Co. from $157.00 to $146.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 5th. Deutsche Bank Aktiengesellschaft downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and cut their target price for the stock from $155.00 to $145.00 in a research note on Friday, January 6th. Finally, Citigroup boosted their target price on JPMorgan Chase & Co. from $150.00 to $165.00 in a research note on Tuesday, January 17th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $154.94.

JPMorgan Chase & Co. Profile

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JPMorgan Chase & Co is a financial holding company, which engages in providing financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.