Illinois Municipal Retirement Fund Acquires 4,817 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by on Apr 30th, 2023

Illinois Municipal Retirement Fund grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,700 shares of the financial services provider’s stock after purchasing an additional 4,817 shares during the period. Illinois Municipal Retirement Fund’s holdings in JPMorgan Chase & Co. were worth $19,538,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Retirement Financial Solutions LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $26,000. Creative Capital Management Investments LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $30,000. Capital Directions Investment Advisors LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $44,000. Bellwether Advisors LLC grew its stake in JPMorgan Chase & Co. by 119.1% in the 3rd quarter. Bellwether Advisors LLC now owns 493 shares of the financial services provider’s stock worth $51,000 after buying an additional 268 shares in the last quarter. Finally, Delos Wealth Advisors LLC grew its stake in JPMorgan Chase & Co. by 24.4% in the 3rd quarter. Delos Wealth Advisors LLC now owns 505 shares of the financial services provider’s stock worth $53,000 after buying an additional 99 shares in the last quarter. Institutional investors own 67.89% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.9 %

Shares of JPM opened at $138.24 on Friday. The company’s fifty day moving average is $134.33 and its 200 day moving average is $133.56. JPMorgan Chase & Co. has a fifty-two week low of $101.28 and a fifty-two week high of $144.34. The stock has a market capitalization of $405.25 billion, a PE ratio of 10.20, a P/E/G ratio of 1.98 and a beta of 1.10. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.69. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The company had revenue of $38.35 billion for the quarter, compared to analysts’ expectations of $35.77 billion. During the same quarter in the previous year, the business posted $2.63 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 24.8% on a year-over-year basis. Sell-side analysts expect that JPMorgan Chase & Co. will post 13.85 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Thursday, April 6th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.89%. The ex-dividend date is Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.52%.

Wall Street Analyst Weigh In

A number of research firms have commented on JPM. BMO Capital Markets boosted their price target on shares of JPMorgan Chase & Co. from $154.00 to $169.00 and gave the stock a “market perform” rating in a research note on Monday, April 17th. Morgan Stanley upped their price objective on shares of JPMorgan Chase & Co. from $153.00 to $157.00 and gave the company an “overweight” rating in a research note on Monday, April 17th. Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, April 17th. Evercore ISI cut their price objective on shares of JPMorgan Chase & Co. from $157.00 to $146.00 and set an “outperform” rating for the company in a research note on Wednesday, April 5th. Finally, Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Monday, April 17th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $154.94.

About JPMorgan Chase & Co.

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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.

Further Reading

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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