Public Employees Retirement Association of Colorado Cuts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Public Employees Retirement Association of Colorado lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,271,157 shares of the financial services provider’s stock after selling 5,467 shares during the quarter. JPMorgan Chase & Co. comprises 1.6% of Public Employees Retirement Association of Colorado’s investment portfolio, making the stock its 7th biggest holding. Public Employees Retirement Association of Colorado owned about 0.07% of JPMorgan Chase & Co. worth $267,292,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Gilbert & Cook Inc. raised its holdings in shares of JPMorgan Chase & Co. by 3.7% during the third quarter. Gilbert & Cook Inc. now owns 4,547 shares of the financial services provider’s stock valued at $535,000 after purchasing an additional 161 shares during the period. Manitou Investment Management Ltd. raised its holdings in shares of JPMorgan Chase & Co. by 0.8% during the third quarter. Manitou Investment Management Ltd. now owns 100,190 shares of the financial services provider’s stock valued at $11,791,000 after purchasing an additional 760 shares during the period. First Business Financial Services Inc. raised its holdings in shares of JPMorgan Chase & Co. by 1.3% during the third quarter. First Business Financial Services Inc. now owns 8,392 shares of the financial services provider’s stock valued at $988,000 after purchasing an additional 105 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in shares of JPMorgan Chase & Co. by 2.8% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 67,746 shares of the financial services provider’s stock valued at $7,973,000 after purchasing an additional 1,829 shares during the period. Finally, Taylor Hoffman Wealth Management raised its holdings in shares of JPMorgan Chase & Co. by 15.6% during the third quarter. Taylor Hoffman Wealth Management now owns 11,028 shares of the financial services provider’s stock valued at $1,298,000 after purchasing an additional 1,486 shares during the period. 71.90% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Mellody L. Hobson bought 16,000 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, October 23rd. The stock was purchased at an average cost of $124.65 per share, with a total value of $1,994,400.00. Following the transaction, the director now directly owns 8,186 shares of the company’s stock, valued at $1,020,384.90. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gordon Smith sold 83,289 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $119.98, for a total transaction of $9,993,014.22. Following the transaction, the chief executive officer now directly owns 393,197 shares of the company’s stock, valued at $47,175,776.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,944 shares of company stock valued at $19,088,970. Company insiders own 0.76% of the company’s stock.

JPM has been the topic of a number of analyst reports. BMO Capital Markets upped their target price on shares of JPMorgan Chase & Co. to $126.00 in a report on Wednesday, October 16th. Royal Bank of Canada upped their target price on shares of JPMorgan Chase & Co. to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. ValuEngine upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Wells Fargo & Co set a $125.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Buckingham Research lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a report on Monday, September 16th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $123.02.

NYSE:JPM traded down $0.47 on Monday, hitting $129.91. The stock had a trading volume of 4,304,200 shares, compared to its average volume of 12,174,789. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.97 and a current ratio of 0.93. The stock has a market cap of $404.92 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 1.81 and a beta of 1.21. JPMorgan Chase & Co. has a 1 year low of $91.11 and a 1 year high of $131.29. The firm’s fifty day simple moving average is $120.77 and its two-hundred day simple moving average is $114.02.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $2.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.45 by $0.23. The firm had revenue of $29.34 billion during the quarter, compared to analyst estimates of $28.36 billion. JPMorgan Chase & Co. had a net margin of 24.70% and a return on equity of 14.63%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the business posted $2.34 EPS. Equities research analysts predict that JPMorgan Chase & Co. will post 10.17 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a $0.90 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, October 3rd. This represents a $3.60 annualized dividend and a yield of 2.77%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 40.00%.

About JPMorgan Chase & Co.

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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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

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