State Board of Administration of Florida Retirement System lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,189,136 shares of the financial services provider’s stock after selling 37,510 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.0% of State Board of Administration of Florida Retirement System’s portfolio, making the stock its 10th biggest holding. State Board of Administration of Florida Retirement System owned approximately 0.11% of JPMorgan Chase & Co. worth $427,663,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Financial Solutions LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $26,000. Creative Capital Management Investments LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $30,000. Capital Directions Investment Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $44,000. Bellwether Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 119.1% during the 3rd quarter. Bellwether Advisors LLC now owns 493 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 268 shares during the last quarter. Finally, Delos Wealth Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 24.4% during the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 67.89% of the company’s stock.
Wall Street Analyst Weigh In
JPM has been the subject of a number of recent analyst reports. Barclays cut their price objective on JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating for the company in a research report on Wednesday, April 12th. Morgan Stanley raised their price objective on JPMorgan Chase & Co. from $153.00 to $157.00 and gave the stock an “overweight” rating in a research report on Monday, April 17th. UBS Group set a $156.00 price objective on JPMorgan Chase & Co. in a research report on Friday, January 13th. Odeon Capital Group raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Monday, May 1st. Finally, The Goldman Sachs Group raised their price objective on JPMorgan Chase & Co. from $160.00 to $172.00 in a research report on Friday, April 14th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $155.00.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings data on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.69. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. The business had revenue of $38.35 billion during the quarter, compared to the consensus estimate of $35.77 billion. During the same period in the previous year, the company posted $2.63 earnings per share. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 14.33 EPS for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Sunday, April 30th. Investors of record on Thursday, April 6th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Wednesday, April 5th. JPMorgan Chase & Co.’s payout ratio is 29.52%.
JPMorgan Chase & Co. Profile
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.
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