Teachers Retirement System of The State of Kentucky Has $70.48 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Teachers Retirement System of The State of Kentucky reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 749,349 shares of the financial services provider’s stock after selling 29,400 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.8% of Teachers Retirement System of The State of Kentucky’s holdings, making the stock its 10th biggest position. Teachers Retirement System of The State of Kentucky’s holdings in JPMorgan Chase & Co. were worth $70,484,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. NuWave Investment Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $30,000. Laidlaw Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 20,306.8% during the 2nd quarter. Laidlaw Wealth Management LLC now owns 2,810,830 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 2,797,056 shares during the period. Lion Street Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $37,000. FAI Wealth Management grew its stake in shares of JPMorgan Chase & Co. by 317.0% during the 2nd quarter. FAI Wealth Management now owns 417 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 317 shares during the period. Finally, Bay Harbor Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 18.3% during the 2nd quarter. Bay Harbor Wealth Management LLC now owns 692 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 107 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

A number of brokerages recently issued reports on JPM. Oppenheimer reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. Deutsche Bank upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and boosted their price objective for the company from $105.00 to $115.00 in a research note on Thursday, September 3rd. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $113.00 price objective for the company in a research note on Thursday, July 9th. Atlantic Securities upgraded JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating and set a $120.00 price objective for the company in a research note on Wednesday, July 22nd. Finally, Credit Suisse Group set a $122.00 price objective on JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $111.37.

In other news, CEO Mary E. Erdoes sold 24,554 shares of the company’s stock in a transaction that occurred on Wednesday, July 15th. The stock was sold at an average price of $99.52, for a total transaction of $2,443,614.08. 0.78% of the stock is owned by corporate insiders.

NYSE JPM traded down $3.19 during trading hours on Tuesday, reaching $99.28. The company’s stock had a trading volume of 23,660,387 shares, compared to its average volume of 20,928,539. The company has a market capitalization of $302.57 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 3.39 and a beta of 1.16. JPMorgan Chase & Co. has a 1 year low of $76.91 and a 1 year high of $141.10. The firm’s 50-day moving average price is $99.98 and its 200-day moving average price is $97.41. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.35.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.04. The business had revenue of $32.98 billion for the quarter, compared to analysts’ expectations of $30.23 billion. JPMorgan Chase & Co. had a return on equity of 10.75% and a net margin of 18.16%. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.82 EPS. Equities research analysts anticipate that JPMorgan Chase & Co. will post 5.96 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Tuesday, October 6th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.63%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 34.35%.

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 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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