Public Sector Pension Investment Board Cuts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Public Sector Pension Investment Board reduced its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 7.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,104,633 shares of the financial services provider's stock after selling 83,846 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.2% of Public Sector Pension Investment Board's holdings, making the stock its 11th largest holding. Public Sector Pension Investment Board's holdings in JPMorgan Chase & Co. were worth $270,966,000 at the end of the most recent reporting period.

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A number of other hedge funds and other institutional investors have also recently modified their holdings of JPM. Brighton Jones LLC lifted its stake in shares of JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after acquiring an additional 4,841 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in shares of JPMorgan Chase & Co. by 0.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after acquiring an additional 1,229 shares during the last quarter. Highview Capital Management LLC DE lifted its stake in shares of JPMorgan Chase & Co. by 16.1% in the 4th quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock valued at $3,266,000 after acquiring an additional 1,893 shares during the last quarter. KKM Financial LLC lifted its stake in shares of JPMorgan Chase & Co. by 3.9% in the 4th quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock valued at $4,040,000 after acquiring an additional 640 shares during the last quarter. Finally, Jump Financial LLC lifted its stake in shares of JPMorgan Chase & Co. by 211.8% in the 4th quarter. Jump Financial LLC now owns 13,013 shares of the financial services provider's stock valued at $3,119,000 after acquiring an additional 8,840 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Down 1.3%

Shares of NYSE:JPM opened at $290.48 on Friday. JPMorgan Chase & Co. has a 52-week low of $200.61 and a 52-week high of $301.29. The firm has a market capitalization of $798.75 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.95 and a beta of 1.11. The stock has a 50 day moving average price of $286.42 and a 200-day moving average price of $263.61. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88.

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JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same quarter in the prior year, the company earned $6.12 EPS. The business's revenue was down 10.5% compared to the same quarter last year. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were paid a $1.40 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

Analysts Set New Price Targets

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JPM has been the subject of a number of recent research reports. Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price for the company. in a research note on Friday, June 27th. Citigroup set a $275.00 target price on JPMorgan Chase & Co. and gave the company a "buy" rating in a research note on Monday, July 7th. Phillip Securities lowered JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Finally, Royal Bank Of Canada set a $305.00 price objective on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, June 30th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $288.68.

Get Our Latest Stock Report on JPM

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 2,821 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $749,567.91. Following the sale, the general counsel owned 68,757 shares in the company, valued at $18,269,422.47. This represents a 3.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the sale, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. The trade was a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,557 shares of company stock worth $4,113,796 in the last 90 days. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.

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