State of Michigan Retirement System lowered its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 764,131 shares of the financial services provider's stock after selling 10,700 shares during the quarter. JPMorgan Chase & Co. accounts for 1.0% of State of Michigan Retirement System's investment portfolio, making the stock its 17th biggest position. State of Michigan Retirement System's holdings in JPMorgan Chase & Co. were worth $183,170,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 0.9% during the third quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider's stock worth $12,258,346,000 after purchasing an additional 505,830 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 3.7% during the fourth quarter. Fisher Asset Management LLC now owns 17,401,436 shares of the financial services provider's stock worth $4,171,298,000 after purchasing an additional 617,164 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of JPMorgan Chase & Co. by 2.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider's stock worth $3,180,806,000 after purchasing an additional 302,592 shares in the last quarter. Franklin Resources Inc. lifted 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, Sanders Capital LLC lifted its stake in shares of JPMorgan Chase & Co. by 0.6% in the third quarter. Sanders Capital LLC now owns 8,194,767 shares of the financial services provider's stock worth $1,727,949,000 after acquiring an additional 49,695 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.
Insider Buying and Selling
In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was 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 $42,737,529.04. This represents a 19.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the completion of the sale, the chief operating officer now owns 54,469 shares of the company's stock, valued at $14,698,459.65. This trade represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,326 shares of company stock valued at $12,448,445 in the last three months. 0.79% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the company. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. Wolfe Research upgraded JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 price target on the stock in a research note on Friday, January 3rd. Bank of America boosted their price target on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a "buy" rating in a research note on Tuesday, January 7th. Truist Financial boosted their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a "hold" rating in a research note on Thursday, January 16th. Finally, Baird R W upgraded JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research note on Friday, March 7th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $252.89.
Check Out Our Latest Stock Report on JPM
JPMorgan Chase & Co. Stock Performance
Shares of NYSE:JPM traded up $7.75 during trading on Friday, hitting $232.94. 11,956,730 shares of the company traded hands, compared to its average volume of 8,838,457. The stock 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 business's fifty day moving average is $258.29 and its 200-day moving average is $238.95. JPMorgan Chase & Co. has a one year low of $179.20 and a one year high of $280.25. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $41.90 billion. During the same period in the prior year, the company posted $3.04 EPS. The business's revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Company Profile
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Free Report)
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.
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