JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 7.2% during the third quarter, HoldingsChannel reports. The firm owned 3,731,860 shares of the financial services provider’s stock after selling 288,714 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.1% of New York State Common Retirement Fund’s portfolio, making the stock its 12th biggest holding. New York State Common Retirement Fund’s holdings in JPMorgan Chase & Co. were worth $786,900,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of JPM. Retirement Group LLC boosted its stake in shares of JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares in the last quarter. Fairway Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $32,000. Anfield Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $34,000. West Financial Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $37,000. Finally, Davidson Capital Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on JPM. Daiwa Capital Markets decreased their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada boosted their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average price target of $222.81.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $219.78 on Tuesday. The firm has a market capitalization of $618.76 billion, a P/E ratio of 12.23, a PEG ratio of 3.24 and a beta of 1.10. The stock has a fifty day moving average price of $216.17 and a 200 day moving average price of $207.18. JPMorgan Chase & Co. has a 52 week low of $142.79 and a 52 week high of $226.75. The company has a current ratio of 0.89, a quick ratio of 0.91 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion during the quarter, compared to analyst estimates of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.33 earnings per share. Equities research analysts anticipate that JPMorgan Chase & Co. will post 17.52 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $1.25 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.82%.

JPMorgan Chase & Co. Company 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, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.