California Public Employees Retirement System Trims Position in JPMorgan Chase & Co. (NYSE:JPM)

California Public Employees Retirement System trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,242,298 shares of the financial services provider's stock after selling 228,599 shares during the period. JPMorgan Chase & Co. makes up about 1.0% of California Public Employees Retirement System's holdings, making the stock its 13th largest holding. California Public Employees Retirement System owned approximately 0.22% of JPMorgan Chase & Co. worth $1,496,341,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JPM. Norges Bank purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $8,310,884,000. Proficio Capital Partners LLC raised its holdings in shares of JPMorgan Chase & Co. by 34,259.3% in the 4th quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider's stock valued at $838,865,000 after purchasing an additional 3,489,314 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth $259,038,000. Franklin Resources Inc. grew its stake in shares of JPMorgan Chase & Co. by 7.2% during the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider's stock worth $3,338,955,000 after purchasing an additional 1,016,289 shares in the last quarter. Finally, DJE Kapital AG purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at $179,870,000. Institutional investors and hedge funds own 71.55% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts have issued reports on JPM shares. Barclays lifted their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a "market perform" rating in a report on Thursday, January 16th. Robert W. Baird raised shares of JPMorgan Chase & Co. from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Evercore ISI reduced their price objective on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a research report on Tuesday. Finally, Baird R W upgraded shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research note on Friday, March 7th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $255.06.

Insider Activity

In other news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the sale, the general counsel now directly owns 47,620 shares in the company, valued at $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 158,381 shares in the company, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock worth $19,987,908 over the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

JPM stock traded down $17.23 during trading on Thursday, reaching $228.60. 17,164,458 shares of the company were exchanged, compared to its average volume of 9,398,057. JPMorgan Chase & Co. has a 52-week low of $179.20 and a 52-week high of $280.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The company has a market cap of $639.18 billion, a P/E ratio of 11.58, a PEG ratio of 2.83 and a beta of 1.10. The stock's 50 day moving average price is $256.54 and its 200 day moving average price is $241.36.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping the consensus estimate of $4.03 by $0.78. The business had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company's quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.04 EPS. As a group, analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a $1.40 dividend. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 annualized dividend and a yield of 2.45%. JPMorgan Chase & Co.'s dividend payout ratio is 28.37%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.