State of Michigan Retirement System Grows Stock Holdings in JPMorgan Chase & Co. $JPM

State of Michigan Retirement System raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 925,631 shares of the financial services provider’s stock after purchasing an additional 24,100 shares during the quarter. JPMorgan Chase & Co. comprises about 1.4% of State of Michigan Retirement System’s investment portfolio, making the stock its 11th biggest position. State of Michigan Retirement System’s holdings in JPMorgan Chase & Co. were worth $268,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in JPM. Kingstone Capital Partners Texas LLC raised its stake in shares of JPMorgan Chase & Co. by 609,867.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after purchasing an additional 72,885,260 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in JPMorgan Chase & Co. by 2.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock valued at $5,040,469,000 after purchasing an additional 548,853 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in JPMorgan Chase & Co. by 5.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider’s stock valued at $4,523,588,000 after acquiring an additional 890,553 shares during the period. Nuveen LLC acquired a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $3,972,807,000. Finally, Invesco Ltd. lifted its stake in shares of JPMorgan Chase & Co. by 4.1% in the 1st quarter. Invesco Ltd. now owns 13,754,558 shares of the financial services provider’s stock worth $3,373,993,000 after acquiring an additional 547,110 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Robin Leopold sold 966 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the sale, the insider owned 58,479 shares in the company, valued at $18,240,769.68. This represents a 1.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director owned 82,207 shares of the company’s stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.4%

Shares of NYSE JPM opened at $320.11 on Thursday. The company has a market cap of $871.42 billion, a PE ratio of 15.85, a P/E/G ratio of 1.84 and a beta of 1.14. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a 50-day moving average of $307.23 and a two-hundred day moving average of $288.84. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $322.25.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. The firm had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.37 EPS. As a group, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on JPM shares. DZ Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, October 15th. Barclays raised their price target on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Wolfe Research upped their target price on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Citigroup lifted their price objective on shares of JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Finally, Zacks Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $326.38.

About JPMorgan Chase & Co.

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.