JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 7.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,776 shares of the financial services provider’s stock after selling 13,032 shares during the period. JPMorgan Chase & Co. makes up approximately 0.8% of Maryland State Retirement & Pension System’s holdings, making the stock its 23rd largest holding. Maryland State Retirement & Pension System’s holdings in JPMorgan Chase & Co. were worth $36,382,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Disciplined Investments LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth approximately $217,000. LGT Group Foundation lifted its holdings in shares of JPMorgan Chase & Co. by 2.8% during the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock valued at $126,040,000 after acquiring an additional 14,300 shares in the last quarter. Kinsale Capital Group Inc. boosted its position in JPMorgan Chase & Co. by 11.1% during the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock worth $10,483,000 after purchasing an additional 4,375 shares during the period. Jag Capital Management LLC increased its holdings in JPMorgan Chase & Co. by 10.5% in the 4th quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock valued at $353,000 after purchasing an additional 140 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in JPMorgan Chase & Co. by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock valued at $938,491,000 after purchasing an additional 319,730 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.2 %

JPM stock opened at $250.99 on Wednesday. The firm has a market cap of $701.79 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $179.20 and a 1-year high of $280.25. The firm has a fifty day moving average price of $258.02 and a two-hundred day moving average price of $239.98. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. During the same quarter in the prior year, the firm earned $3.04 EPS. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. Research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be issued a $1.40 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. This represents a $5.60 annualized dividend and a dividend yield of 2.23%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.37%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on JPM shares. Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research report on Friday, January 3rd. Truist Financial boosted their target price on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. UBS Group raised their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Bank of America boosted their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $252.89.

Insider Activity at JPMorgan Chase & Co.

In related news, CEO Troy L. Rohrbaugh sold 25,000 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $247.02, for a total value of $6,175,500.00. Following the sale, the chief executive officer now owns 133,381 shares of the company’s stock, valued at $32,947,774.62. This trade represents a 15.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the sale, the insider now directly owns 50,377 shares in the company, valued at approximately $13,606,323.93. This trade represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,848 shares of company stock worth $19,987,908 in the last 90 days. 0.79% of the stock is currently owned by company insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.