IBM Retirement Fund Sells 2,946 Shares of JPMorgan Chase & Co. (NYSE:JPM)

IBM Retirement Fund cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,523 shares of the financial services provider’s stock after selling 2,946 shares during the quarter. JPMorgan Chase & Co. makes up approximately 0.9% of IBM Retirement Fund’s investment portfolio, making the stock its 12th largest holding. IBM Retirement Fund’s holdings in JPMorgan Chase & Co. were worth $7,104,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Domani Wealth LLC boosted its position in JPMorgan Chase & Co. by 2.1% during the 1st quarter. Domani Wealth LLC now owns 5,152 shares of the financial services provider’s stock worth $464,000 after buying an additional 105 shares during the period. Emerald Advisers LLC boosted its position in JPMorgan Chase & Co. by 2.3% during the 1st quarter. Emerald Advisers LLC now owns 4,907 shares of the financial services provider’s stock worth $442,000 after buying an additional 108 shares during the period. BCJ Capital Management LLC boosted its position in JPMorgan Chase & Co. by 3.2% during the 4th quarter. BCJ Capital Management LLC now owns 3,692 shares of the financial services provider’s stock worth $515,000 after buying an additional 115 shares during the period. Martin Capital Partners LLC boosted its position in JPMorgan Chase & Co. by 0.3% during the 1st quarter. Martin Capital Partners LLC now owns 43,592 shares of the financial services provider’s stock worth $3,925,000 after buying an additional 115 shares during the period. Finally, Weaver Consulting Group boosted its position in JPMorgan Chase & Co. by 6.2% during the 1st quarter. Weaver Consulting Group now owns 1,961 shares of the financial services provider’s stock worth $177,000 after buying an additional 115 shares during the period. 71.57% of the stock is currently owned by institutional investors.

NYSE JPM traded up $0.94 during mid-day trading on Wednesday, hitting $93.26. The company’s stock had a trading volume of 1,275,282 shares, compared to its average volume of 22,248,936. The company’s 50 day simple moving average is $97.65 and its 200 day simple moving average is $110.38. JPMorgan Chase & Co. has a twelve month low of $76.91 and a twelve month high of $141.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $282.79 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 3.73 and a beta of 1.19.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.70 by ($1.92). JPMorgan Chase & Co. had a net margin of 21.61% and a return on equity of 12.52%. The business had revenue of $28.25 billion during the quarter, compared to analyst estimates of $29.45 billion. During the same period in the previous year, the business posted $2.65 EPS. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, research analysts forecast that JPMorgan Chase & Co. will post 5.09 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Thursday, July 2nd. JPMorgan Chase & Co.’s payout ratio is currently 34.35%.

JPM has been the topic of several recent research reports. Deutsche Bank reiterated a “neutral” rating and set a $105.00 target price (down from $130.00) on shares of JPMorgan Chase & Co. in a research report on Thursday, April 2nd. UBS Group lifted their target price on shares of JPMorgan Chase & Co. from $82.00 to $96.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Societe Generale upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “buy” rating in a report on Tuesday, April 14th. TheStreet lowered shares of JPMorgan Chase & Co. from a “b-” rating to a “c” rating in a report on Monday, May 11th. Finally, Bank of America lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $147.00 to $100.00 in a report on Friday, March 27th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. JPMorgan Chase & Co. has an average rating of “Buy” and an average target price of $110.82.

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 13,027 shares of JPMorgan Chase & Co. stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $91.12, for a total transaction of $1,187,020.24. Following the transaction, the insider now directly owns 137,243 shares of the company’s stock, valued at approximately $12,505,582.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen B. Burke acquired 75,000 shares of the business’s stock in a transaction on Thursday, April 16th. The shares were purchased at an average cost of $87.99 per share, for a total transaction of $6,599,250.00. Following the completion of the acquisition, the director now directly owns 150,043 shares in the company, valued at $13,202,283.57. The disclosure for this purchase can be found here. Company insiders own 0.78% of the company’s stock.

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.

Read More: Why do analysts give a neutral rating?

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

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