Kentucky Retirement Systems Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Kentucky Retirement Systems decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 191,893 shares of the financial services provider’s stock after selling 3,624 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.4% of Kentucky Retirement Systems’ portfolio, making the stock its 11th biggest holding. Kentucky Retirement Systems’ holdings in JPMorgan Chase & Co. were worth $47,071,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Capital & Planning LLC increased its position in shares of JPMorgan Chase & Co. by 13.3% in the fourth quarter. Capital & Planning LLC now owns 2,357 shares of the financial services provider’s stock valued at $565,000 after buying an additional 276 shares in the last quarter. Brighton Jones LLC increased its holdings in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after acquiring an additional 4,841 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $66,088,000. SOA Wealth Advisors LLC. increased its holdings in JPMorgan Chase & Co. by 1.2% during the 4th quarter. SOA Wealth Advisors LLC. now owns 21,337 shares of the financial services provider’s stock valued at $5,115,000 after acquiring an additional 255 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG increased its stake in shares of JPMorgan Chase & Co. by 0.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider’s stock worth $46,068,000 after purchasing an additional 1,229 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Evercore ISI dropped their price objective on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Bank of America raised their price target on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, June 18th. Morgan Stanley lifted their price objective on JPMorgan Chase & Co. from $236.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Wall Street Zen upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $271.90.

Insider Activity

In related news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the transaction, the chief operating officer now owns 62,455 shares in the company, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the transaction, the general counsel now owns 36,520 shares in the company, valued at $9,703,729.20. The trade was a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock valued at $18,060,015 in the last three months. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.0%

Shares of JPM opened at $284.14 on Thursday. The firm has a market cap of $789.65 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 2.63 and a beta of 1.08. The company’s fifty day moving average is $259.29 and its two-hundred day moving average is $252.14. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $284.28. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44. The firm had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $4.44 earnings per share. Analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.49%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.