New York State Teachers Retirement System Trims Position in JPMorgan Chase & Co. (NYSE:JPM)

New York State Teachers Retirement System decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,577,719 shares of the financial services provider’s stock after selling 127,204 shares during the quarter. JPMorgan Chase & Co. comprises 1.1% of New York State Teachers Retirement System’s holdings, making the stock its 12th biggest position. New York State Teachers Retirement System’s holdings in JPMorgan Chase & Co. were worth $543,538,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Retirement Group LLC increased its position in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares during the last quarter. Fairway Wealth LLC acquired a new position in JPMorgan Chase & Co. during the second quarter worth approximately $32,000. Anfield Capital Management LLC acquired a new position in JPMorgan Chase & Co. during the second quarter worth approximately $34,000. Davidson Capital Management Inc. acquired a new position in JPMorgan Chase & Co. during the first quarter worth approximately $37,000. Finally, West Financial Advisors LLC acquired a new position in JPMorgan Chase & Co. during the third quarter worth approximately $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM opened at $222.94 on Friday. The company has a fifty day simple moving average of $216.15 and a 200 day simple moving average of $206.72. The firm has a market cap of $627.65 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 3.28 and a beta of 1.10. JPMorgan Chase & Co. has a twelve month low of $139.23 and a twelve month 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 posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the prior year, the firm posted $4.33 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. Equities research analysts expect that JPMorgan Chase & Co. will post 17.52 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.24%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on JPM shares. Citigroup upped their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Keefe, Bruyette & Woods increased their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Daiwa Capital Markets dropped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Finally, BMO Capital Markets increased their price objective on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $222.81.

About JPMorgan Chase & Co.

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.