Kentucky Retirement Systems Insurance Trust Fund Has $17.76 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Kentucky Retirement Systems Insurance Trust Fund reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 84,238 shares of the financial services provider’s stock after selling 8,385 shares during the period. JPMorgan Chase & Co. comprises about 1.2% of Kentucky Retirement Systems Insurance Trust Fund’s investment portfolio, making the stock its 12th biggest position. Kentucky Retirement Systems Insurance Trust Fund’s holdings in JPMorgan Chase & Co. were worth $17,762,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mizuho Securities Co. Ltd. bought a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $25,000. Catalyst Capital Advisors LLC bought a new position in JPMorgan Chase & Co. in the 3rd quarter valued at $27,000. Fairway Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $32,000. Anfield Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $34,000. Finally, West Financial Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the third quarter valued at $37,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Down 1.0 %

JPMorgan Chase & Co. stock opened at $240.78 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. JPMorgan Chase & Co. has a 1-year low of $152.57 and a 1-year high of $248.00. The company has a fifty day simple moving average of $221.48 and a 200 day simple moving average of $211.13. The company has a market cap of $677.88 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 3.56 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. JPMorgan Chase & Co.’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.33 earnings per share. Research analysts anticipate that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.08%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $235.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Barclays raised their price target on JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Evercore ISI upped their price objective on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price on the stock. in a report on Thursday, November 7th. Finally, Citigroup upped their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $229.31.

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.