Kentucky Retirement Systems Insurance Trust Fund Has $17.76 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Kentucky Retirement Systems Insurance Trust Fund reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 84,238 shares of the financial services provider’s stock after selling 8,385 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.2% of Kentucky Retirement Systems Insurance Trust Fund’s holdings, making the stock its 12th biggest position. Kentucky Retirement Systems Insurance Trust Fund’s holdings in JPMorgan Chase & Co. were worth $17,762,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Mizuho Securities Co. Ltd. bought a new position in shares of JPMorgan Chase & Co. during the third quarter worth approximately $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth $27,000. Fairway Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at about $32,000. Anfield Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the second quarter valued at about $34,000. Finally, West Financial Advisors LLC bought a new position in JPMorgan Chase & Co. during the third quarter worth about $37,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on JPM. Citigroup increased their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research report on Tuesday. Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Daiwa Capital Markets dropped their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Evercore ISI raised their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $229.31.

JPMorgan Chase & Co. Trading Down 1.0 %

Shares of JPM stock opened at $240.78 on Thursday. JPMorgan Chase & Co. has a twelve month low of $152.57 and a twelve month high of $248.00. The stock’s fifty day simple moving average is $221.48 and its 200 day simple moving average is $211.13. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $677.88 billion, a P/E ratio of 13.40, a P/E/G ratio of 3.56 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $41.43 billion. During the same quarter in the prior year, the firm posted $4.33 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $1.25 dividend. 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 2.08%. JPMorgan Chase & Co.’s payout ratio is currently 27.82%.

JPMorgan Chase & Co. Company 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.