137,400 Shares in JPMorgan Chase & Co. $JPM Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 137,400 shares of the financial services provider’s stock, valued at approximately $40,418,000. JPMorgan Chase & Co. accounts for approximately 0.7% of Louisiana State Employees Retirement System’s investment portfolio, making the stock its 16th biggest position.

Several other large investors have also recently bought and sold shares of the company. Dagco Inc. raised its holdings in JPMorgan Chase & Co. by 1.1% in the first quarter. Dagco Inc. now owns 14,004 shares of the financial services provider’s stock worth $4,119,000 after purchasing an additional 147 shares during the period. Tower View Wealth Management LLC boosted its position in shares of JPMorgan Chase & Co. by 1.0% during the first quarter. Tower View Wealth Management LLC now owns 9,757 shares of the financial services provider’s stock worth $2,870,000 after purchasing an additional 98 shares in the last quarter. First American Bank grew its holdings in shares of JPMorgan Chase & Co. by 1.1% in the 1st quarter. First American Bank now owns 136,055 shares of the financial services provider’s stock valued at $40,022,000 after buying an additional 1,477 shares during the period. KFG Wealth Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.6% in the 1st quarter. KFG Wealth Management LLC now owns 3,597 shares of the financial services provider’s stock valued at $1,058,000 after buying an additional 57 shares during the period. Finally, Kestra Private Wealth Services LLC increased its position in shares of JPMorgan Chase & Co. by 9.6% in the 1st quarter. Kestra Private Wealth Services LLC now owns 345,829 shares of the financial services provider’s stock valued at $101,729,000 after buying an additional 30,205 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Key Headlines Impacting JPMorgan Chase & Co.

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan cleared the Federal Reserve’s annual stress test, reinforcing that the bank is well capitalized and can withstand a severe downturn. That result supports higher payouts and helps confirm the firm’s balance-sheet strength. Article Title
• Positive Sentiment: The board approved a 10% dividend increase and a new $50 billion share buyback, which is a strong signal of confidence in earnings power and capital generation. Article Title
• Positive Sentiment: The stock recently hit an all-time high as investors reacted favorably to the dividend boost, buyback authorization, and ongoing confidence in JPMorgan’s earnings and capital return profile. Article Title

Analysts Set New Price Targets

JPM has been the topic of several research analyst reports. Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. Zacks Research downgraded JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. UBS Group dropped their price target on JPMorgan Chase & Co. from $380.00 to $375.00 in a research report on Wednesday, May 6th. Daiwa Securities Group cut their price objective on JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. Finally, HSBC increased their target price on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $339.58.

Insider Activity

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 3,022 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the sale, the chief financial officer owned 32,438 shares of the company’s stock, valued at $10,036,641.58. The trade was a 8.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total value of $1,808,100.91. Following the completion of the transaction, the general counsel owned 40,961 shares in the company, valued at $13,547,031.53. The trade was a 11.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 33,623 shares of company stock valued at $10,427,835 over the last three months. Insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $328.73 on Monday. The stock has a 50-day moving average price of $311.44 and a two-hundred day moving average price of $308.38. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $343.45. The stock has a market cap of $880.83 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.53 and a beta of 1.00. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping the consensus estimate of $5.50 by $0.44. The business had revenue of $50.54 billion during the quarter, compared to analysts’ expectations of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.07 earnings per share. Equities analysts forecast that JPMorgan Chase & Co. will post 22.43 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.74%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.