JPMorgan Chase & Co. (JPM) is State Treasurer State of Michigan’s 9th Largest Position

State Treasurer State of Michigan raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 8.5% during the 4th quarter, Holdings Channel reports. The firm owned 1,661,385 shares of the financial services provider’s stock after buying an additional 130,100 shares during the period. JPMorgan Chase & Co. accounts for 1.5% of State Treasurer State of Michigan’s holdings, making the stock its 9th largest holding. State Treasurer State of Michigan’s holdings in JPMorgan Chase & Co. were worth $162,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. grew its stake in shares of JPMorgan Chase & Co. by 188.3% in the fourth quarter. Contravisory Investment Management Inc. now owns 542 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 354 shares in the last quarter. Bogart Wealth LLC grew its stake in shares of JPMorgan Chase & Co. by 19.0% in the fourth quarter. Bogart Wealth LLC now owns 625 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 100 shares in the last quarter. D Orazio & Associates Inc. grew its stake in shares of JPMorgan Chase & Co. by 62.6% in the fourth quarter. D Orazio & Associates Inc. now owns 779 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 300 shares in the last quarter. QV Investors Inc. grew its stake in shares of JPMorgan Chase & Co. by 9.1% in the fourth quarter. QV Investors Inc. now owns 1,315 shares of the financial services provider’s stock valued at $128,000 after acquiring an additional 110 shares in the last quarter. Finally, Rocky Mountain Advisers LLC grew its stake in shares of JPMorgan Chase & Co. by 143.4% in the fourth quarter. Rocky Mountain Advisers LLC now owns 1,358 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 67.58% of the company’s stock.

NYSE JPM opened at $108.52 on Wednesday. JPMorgan Chase & Co. has a 12-month low of $91.11 and a 12-month high of $119.24. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $376.52 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 1.56 and a beta of 1.16.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.33. JPMorgan Chase & Co. had a net margin of 24.28% and a return on equity of 14.23%. The business had revenue of $29.12 billion during the quarter, compared to the consensus estimate of $27.95 billion. During the same quarter last year, the firm posted $2.37 EPS. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 10.03 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Wednesday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 35.56%.

In other JPMorgan Chase & Co. news, CFO Marianne Lake sold 115,415 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $109.75, for a total transaction of $12,666,796.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Douglas B. Petno sold 18,303 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $109.74, for a total value of $2,008,571.22. Following the transaction, the chief executive officer now owns 259,386 shares in the company, valued at $28,465,019.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,573 shares of company stock worth $17,293,454. Company insiders own 0.76% of the company’s stock.

Several equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Morgan Stanley upped their price target on shares of JPMorgan Chase & Co. from $124.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Credit Suisse Group upped their price target on shares of JPMorgan Chase & Co. from $128.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. BMO Capital Markets upped their price target on shares of JPMorgan Chase & Co. from $116.00 to $118.00 and gave the company a “market perform” rating in a research note on Monday, April 15th. Finally, HSBC set a $102.00 price target on shares of JPMorgan Chase & Co. and gave the company a “neutral” rating in a research note on Thursday, April 4th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus price target of $123.85.

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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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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