Kentucky Retirement Systems Has $41.80 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Kentucky Retirement Systems trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 8.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 198,210 shares of the financial services provider’s stock after selling 18,188 shares during the period. JPMorgan Chase & Co. comprises about 1.2% of Kentucky Retirement Systems’ investment portfolio, making the stock its 12th biggest position. Kentucky Retirement Systems’ holdings in JPMorgan Chase & Co. were worth $41,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Accredited Investors Inc. grew its position in JPMorgan Chase & Co. by 4.9% in the 2nd quarter. Accredited Investors Inc. now owns 14,174 shares of the financial services provider’s stock worth $2,867,000 after purchasing an additional 667 shares during the last quarter. Sunburst Financial Group LLC grew its position in JPMorgan Chase & Co. by 5.0% in the 2nd quarter. Sunburst Financial Group LLC now owns 5,651 shares of the financial services provider’s stock worth $1,143,000 after purchasing an additional 268 shares during the last quarter. Sageworth Trust Co grew its position in JPMorgan Chase & Co. by 37.9% in the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after purchasing an additional 786 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in JPMorgan Chase & Co. by 16.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after purchasing an additional 95,461 shares during the last quarter. Finally, Czech National Bank lifted its holdings in shares of JPMorgan Chase & Co. by 7.6% during the 2nd quarter. Czech National Bank now owns 547,224 shares of the financial services provider’s stock worth $110,682,000 after acquiring an additional 38,548 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Down 0.8 %

Shares of NYSE JPM opened at $243.03 on Wednesday. JPMorgan Chase & Co. has a 1-year low of $151.92 and a 1-year high of $248.00. The company has a market cap of $684.21 billion, a PE ratio of 13.52, a P/E/G ratio of 3.56 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The company has a 50-day moving average of $220.81 and a two-hundred day moving average of $210.92.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping 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 company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same period in the previous year, the firm posted $4.33 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. As a group, equities analysts expect that JPMorgan Chase & Co. will post 17.62 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 Thursday, October 31st. Stockholders of record on Friday, October 4th were given a dividend of $1.25 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date was Friday, October 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.06%. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley downgraded shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Citigroup raised their price objective on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday. Oppenheimer raised their price objective on shares of JPMorgan Chase & Co. from $232.00 to $241.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Finally, Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $229.31.

JPMorgan Chase & Co. Profile

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.