State of Michigan Retirement System Sells 10,700 Shares of JPMorgan Chase & Co. (NYSE:JPM)

State of Michigan Retirement System lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 764,131 shares of the financial services provider's stock after selling 10,700 shares during the quarter. JPMorgan Chase & Co. makes up 1.0% of State of Michigan Retirement System's investment portfolio, making the stock its 17th largest holding. State of Michigan Retirement System's holdings in JPMorgan Chase & Co. were worth $183,170,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. James Reed Financial Services Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $324,000. Tacita Capital Inc grew its stake in shares of JPMorgan Chase & Co. by 7.5% in the 4th quarter. Tacita Capital Inc now owns 2,507 shares of the financial services provider's stock valued at $601,000 after buying an additional 175 shares in the last quarter. WMG Financial Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 5.4% in the 4th quarter. WMG Financial Advisors LLC now owns 2,834 shares of the financial services provider's stock valued at $679,000 after buying an additional 146 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of JPMorgan Chase & Co. by 3.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 636,912 shares of the financial services provider's stock valued at $152,674,000 after buying an additional 20,088 shares in the last quarter. Finally, Global Strategic Investment Solutions LLC grew its stake in shares of JPMorgan Chase & Co. by 11.7% in the 4th quarter. Global Strategic Investment Solutions LLC now owns 2,881 shares of the financial services provider's stock valued at $691,000 after buying an additional 302 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

JPM has been the subject of a number of recent analyst reports. Wolfe Research raised JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 target price for the company in a research report on Friday, January 3rd. Bank of America upped their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a "buy" rating in a research report on Tuesday, January 7th. Robert W. Baird upgraded JPMorgan Chase & Co. from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Barclays upped 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. Finally, Baird R W upgraded JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and an average price target of $252.89.

Insider Activity at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,273 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the completion of the transaction, the chief operating officer now directly owns 54,469 shares in the company, valued at approximately $14,698,459.65. The trade was a 7.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 3,303 shares of the business's stock in a transaction 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 completion of the sale, the general counsel now owns 47,620 shares of the company's stock, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,326 shares of company stock valued at $12,448,445. 0.79% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Up 3.4 %

Shares of NYSE JPM traded up $7.75 during mid-day trading on Friday, reaching $232.94. 11,956,730 shares of the company's stock were exchanged, compared to its average volume of 8,873,993. The firm has a market capitalization of $651.31 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 2.83 and a beta of 1.10. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The business has a fifty day simple moving average of $258.50 and a 200 day simple moving average of $238.60. JPMorgan Chase & Co. has a twelve month low of $179.20 and a twelve month high of $280.25.

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

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of 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.