Texas Permanent School Fund Purchases 1,811 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Posted by on May 10th, 2023

Texas Permanent School Fund increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 416,407 shares of the financial services provider’s stock after buying an additional 1,811 shares during the quarter. JPMorgan Chase & Co. accounts for 0.8% of Texas Permanent School Fund’s portfolio, making the stock its 10th biggest holding. Texas Permanent School Fund’s holdings in JPMorgan Chase & Co. were worth $55,840,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisor L.P boosted its holdings in JPMorgan Chase & Co. by 81.1% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock valued at $30,321,000 after purchasing an additional 99,636 shares in the last quarter. BCK Partners Inc. acquired a new stake in JPMorgan Chase & Co. during the first quarter valued at approximately $2,455,000. LSV Asset Management boosted its holdings in JPMorgan Chase & Co. by 35.6% during the first quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock valued at $5,085,000 after purchasing an additional 9,800 shares in the last quarter. Wsfs Capital Management LLC boosted its holdings in JPMorgan Chase & Co. by 70.8% during the first quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock valued at $575,000 after purchasing an additional 1,749 shares in the last quarter. Finally, Lumature Wealth Partners LLC boosted its holdings in JPMorgan Chase & Co. by 1,451.4% during the first quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 3,527 shares in the last quarter. 67.89% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $136.41 on Wednesday. The company has a 50 day moving average price of $133.81 and a 200 day moving average price of $134.83. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.85 and a quick ratio of 0.85. 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 $398.63 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 1.91 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its earnings results 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 net margin of 23.73% and a return on equity of 16.02%. The firm had revenue of $38.35 billion during the quarter, compared to analyst estimates of $35.77 billion. During the same quarter in the previous year, the business earned $2.63 EPS. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. Analysts forecast that JPMorgan Chase & Co. will post 14.33 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, April 30th. Shareholders of record on Thursday, April 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup lifted their price objective on JPMorgan Chase & Co. from $150.00 to $165.00 in a report on Tuesday, January 17th. Barclays decreased their price objective on JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating on the stock in a report on Wednesday, April 12th. The Goldman Sachs Group lifted their target price on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a research note on Friday, April 14th. UBS Group set a $156.00 target price on shares of JPMorgan Chase & Co. in a research note on Friday, January 13th. Finally, 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 research note on Monday, April 17th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $155.00.

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

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

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