State of Michigan Retirement System Sells 18,300 Shares of JPMorgan Chase & Co. $JPM

State of Michigan Retirement System decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 686,031 shares of the financial services provider’s stock after selling 18,300 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.0% of State of Michigan Retirement System’s holdings, making the stock its 15th largest holding. State of Michigan Retirement System’s holdings in JPMorgan Chase & Co. were worth $224,559,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of JPM. Timmons Wealth Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $32,000. MBM Wealth Consultants LLC acquired a new stake in JPMorgan Chase & Co. in the first quarter worth about $29,000. Aventus Investment Advisors Inc. bought a new stake in JPMorgan Chase & Co. during the 2nd quarter worth about $33,000. Finally, Osbon Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $35,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Trading Down 0.4%

JPM opened at $356.05 on Tuesday. The firm’s fifty day moving average is $347.92 and its two-hundred day moving average is $319.07. The firm has a market cap of $946.45 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $366.50. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.59 by $0.55. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The firm had revenue of $58.02 billion during the quarter, compared to analysts’ expectations of $50.72 billion. During the same period in the previous year, the firm earned $4.96 earnings per share. The company’s revenue was up 27.7% on a year-over-year basis. Equities research analysts anticipate that JPMorgan Chase & Co. will post 24.28 EPS for the current year.

Wall Street Analyst Weigh In

JPM has been the topic of a number of research reports. The Goldman Sachs Group restated a “buy” rating and set a $418.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Robert W. Baird boosted their price target on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Royal Bank Of Canada increased their price objective on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $375.00 to $390.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Finally, Citigroup lifted their target price on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $359.96.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $361.41, for a total transaction of $903,525.00. Following the completion of the transaction, the insider directly owned 73,547 shares of the company’s stock, valued at $26,580,621.27. This trade represents a 3.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 shares were sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of the transaction, the general counsel directly owned 40,961 shares of the company’s stock, valued at approximately $13,547,031.53. This trade represents a 11.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: JPMorgan has increased its planned capital returns, including a larger share-repurchase authorization and higher payouts. Strong investment-banking and trading activity, loan and deposit growth, and a resilient balance sheet have also supported the stock’s recent rally. JPM Stock Gains 20.6% in 3 Months: Key Factors to Watch Before Buying
• Positive Sentiment: The bank is expanding its physical branch network, including a flagship location in Chicago, which could strengthen its consumer and wealth-management presence. Its $750 billion housing commitment also highlights a long-term growth opportunity in a strategically important market. How Investors May Respond To JPMorgan Chase Bond Issuance, Branch Expansion and Higher Payouts
• Neutral Sentiment: JPMorgan recently issued callable, unsecured medium-term notes spanning maturities from 2031 to 2056. The financing supports expansion and capital-management flexibility, although it also increases the bank’s funding obligations. JPMorgan Bond Issuance, Branch Expansion and Higher Payouts
• Neutral Sentiment: JPMorgan hired Ward Jones from Deutsche Bank to lead mid-cap basic-materials investment banking, a modest signal of continued confidence in deal-making and advisory demand. JPMorgan Taps Deutsche Bank’s Jones for Mid-Cap Basic Materials Role
• Negative Sentiment: JPMorgan’s trading desk shifted from a bullish view to “tactically cautious” on U.S. equities after hawkish comments from Federal Reserve Chair Kevin Warsh. Concerns include interest-rate uncertainty and a possible unwinding of crowded artificial-intelligence trades, weighing on broader financial-sector sentiment. JPMorgan Turns Tactically Cautious Following Warsh’s Jackson Hole Speech
• Negative Sentiment: Expectations for another rate increase are mixed for JPMorgan: higher rates could lift net interest income, but they may increase stress among revolving-credit borrowers and pressure credit quality. JPMorgan Slips as 60% Hike Odds Cut Both Ways

About JPMorgan Chase & Co.

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.