Maryland State Retirement & Pension System raised its stake in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 0.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 230,629 shares of the financial services provider’s stock after purchasing an additional 1,763 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.7% of Maryland State Retirement & Pension System’s holdings, making the stock its 29th biggest holding. Maryland State Retirement & Pension System’s holdings in JPMorgan Chase & Co. were worth $30,053,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Moneta Group Investment Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 105,652.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after buying an additional 97,907,897 shares during the period. Morgan Stanley boosted its holdings in shares of JPMorgan Chase & Co. by 15.9% in the 4th quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock valued at $7,918,506,000 after buying an additional 8,088,433 shares during the period. Geode Capital Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 51,248,625 shares of the financial services provider’s stock valued at $6,859,512,000 after buying an additional 1,082,325 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of JPMorgan Chase & Co. by 71.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,484,094 shares of the financial services provider’s stock valued at $4,087,917,000 after buying an additional 12,654,947 shares during the period. Finally, Norges Bank acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $3,894,646,000. Institutional investors own 70.10% of the company’s stock.
JPMorgan Chase & Co. Stock Down 1.0 %
JPM stock opened at $143.21 on Friday. JPMorgan Chase & Co. has a 52-week low of $101.28 and a 52-week high of $147.48. The company’s 50 day simple moving average is $139.36 and its 200-day simple moving average is $137.14. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $418.50 billion, a P/E ratio of 10.57, a P/E/G ratio of 2.02 and a beta of 1.10.
JPMorgan Chase & Co. Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Wednesday, July 5th. JPMorgan Chase & Co.’s payout ratio is presently 29.52%.
Analyst Ratings Changes
A number of research analysts have issued reports on the stock. StockNews.com assumed coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 18th. They set a “hold” rating for the company. Credit Suisse Group boosted their target price on shares of JPMorgan Chase & Co. from $155.00 to $160.00 in a research note on Tuesday, April 18th. 92 Resources reissued a “maintains” rating on shares of JPMorgan Chase & Co. in a research note on Friday, May 12th. Barclays reduced their target price on shares of JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating for the company in a research note on Wednesday, April 12th. Finally, Oppenheimer boosted their target price on shares of JPMorgan Chase & Co. from $157.00 to $192.00 and gave the company an “outperformer” 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $157.35.
Insider Activity at JPMorgan Chase & Co.
In related news, CEO Daniel E. Pinto sold 113,640 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the transaction, the chief executive officer now directly owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Daniel E. Pinto sold 113,640 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the transaction, the chief executive officer now directly owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas B. Petno sold 4,930 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $142.16, for a total transaction of $700,848.80. Following the transaction, the chief executive officer now directly owns 277,161 shares in the company, valued at $39,401,207.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,861 shares of company stock valued at $19,858,275. Corporate insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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