Kentucky Retirement Systems Purchases 1,007 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on May 4th, 2023

Kentucky Retirement Systems boosted its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 230,563 shares of the financial services provider’s stock after acquiring an additional 1,007 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.2% of Kentucky Retirement Systems’ holdings, making the stock its 10th biggest holding. Kentucky Retirement Systems’ holdings in JPMorgan Chase & Co. were worth $30,918,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in JPM. Retirement Financial Solutions LLC acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth approximately $26,000. Creative Capital Management Investments LLC acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth approximately $30,000. Capital Directions Investment Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $44,000. Bellwether Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 119.1% during the third quarter. Bellwether Advisors LLC now owns 493 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 268 shares in the last quarter. Finally, Delos Wealth Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 24.4% during the third quarter. Delos Wealth Advisors LLC now owns 505 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 99 shares in the last quarter. Institutional investors and hedge funds own 67.89% of the company’s stock.

JPMorgan Chase & Co. Trading Down 2.1 %

Shares of JPM opened at $135.98 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The firm’s 50-day moving average is $134.24 and its two-hundred day moving average is $134.20. JPMorgan Chase & Co. has a twelve month low of $101.28 and a twelve month high of $144.34. The firm has a market capitalization of $398.62 billion, a P/E ratio of 10.04, a PEG ratio of 1.98 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its 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 analyst estimates of $35.77 billion. During the same period in the prior year, the business posted $2.63 earnings per share. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, research analysts predict that JPMorgan Chase & Co. will post 14 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, April 30th. Shareholders of record on Thursday, April 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.52%.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research analyst reports. Bank of America lifted their target price on JPMorgan Chase & Co. from $152.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, April 17th. Barclays cut their target price on shares of JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating on the stock in a report on Wednesday, April 12th. Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, April 17th. The Goldman Sachs Group lifted their target price on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a report on Friday, April 14th. Finally, Credit Suisse Group boosted their price target on JPMorgan Chase & Co. from $155.00 to $160.00 in a research report on Tuesday, April 18th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $155.00.

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.