New York State Teachers Retirement System Sells 131,867 Shares of JPMorgan Chase & Co. (NYSE:JPM)

New York State Teachers Retirement System cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,704,923 shares of the financial services provider’s stock after selling 131,867 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.2% of New York State Teachers Retirement System’s holdings, making the stock its 11th biggest holding. New York State Teachers Retirement System owned approximately 0.09% of JPMorgan Chase & Co. worth $547,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $6,016,878,000. Swedbank AB purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $800,130,000. Capital Research Global Investors grew its position in shares of JPMorgan Chase & Co. by 23.3% during the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares in the last quarter. Capital International Investors grew its position in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock worth $7,062,094,000 after purchasing an additional 2,128,478 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its stake in JPMorgan Chase & Co. by 3,836.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock valued at $258,377,000 after buying an additional 1,480,379 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

JPM has been the subject of several analyst reports. Jefferies Financial Group raised their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Robert W. Baird boosted their price objective on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Royal Bank of Canada restated an “outperform” rating and issued a $211.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Finally, Evercore ISI boosted their price objective on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $205.71.

Insider Activity

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $199.54, for a total value of $1,014,860.44. Following the completion of the transaction, the insider now owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.8 %

JPM opened at $218.28 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $219.19. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.92. The firm has a market capitalization of $626.83 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 2.42 and a beta of 1.12. The company’s 50 day moving average price is $206.81 and its two-hundred day moving average price is $196.86.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same quarter in the prior year, the business earned $4.37 earnings per share. As a group, research analysts predict that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

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.