Maryland State Retirement & Pension System Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Maryland State Retirement & Pension System decreased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 223,424 shares of the financial services provider’s stock after selling 2,437 shares during the period. JPMorgan Chase & Co. makes up 0.8% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 15th largest holding. Maryland State Retirement & Pension System’s holdings in JPMorgan Chase & Co. were worth $45,190,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Retirement Group LLC raised its position in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares during the last quarter. Richardson Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $34,000. Bare Financial Services Inc acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $35,000. Partnership Wealth Management LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at approximately $36,000. Finally, Davidson Capital Management Inc. acquired a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $37,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the sale, the insider now owns 212,265 shares in the company, valued at $42,355,358.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

JPM has been the topic of several recent research reports. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. UBS Group upped their target price on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday. Barclays upped their price objective on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Jefferies Financial Group lifted their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $208.35.

JPMorgan Chase & Co. Stock Down 2.0 %

Shares of NYSE JPM opened at $220.30 on Wednesday. The stock has a fifty day moving average price of $210.24 and a 200 day moving average price of $199.40. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $225.48. The company has a market cap of $632.63 billion, a P/E ratio of 12.29, a P/E/G ratio of 2.62 and a beta of 1.12.

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