Alaska State Department of Revenue Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)


The Alaska State Department of Revenue cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.2% in the first quarter, HoldingsChannel.com reports. The company held 446,294 shares of the financial services provider after selling 14,720 shares during the quarter. JPMorgan Chase & Co. accounts for 0.6% of the Alaska Department of Revenue’s portfolio, making it its 17th largest position. The Alaska State Department of Revenue’s holdings in JPMorgan Chase & Co. were worth $60,838,000 when it was last filed with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently changed their positions in the company. Lowe Wealth Advisors LLC increased its stake in JPMorgan Chase & Co. by 230.0% during the fourth quarter. Lowe Wealth Advisors LLC now owns 165 shares of the financial services provider valued at $26,000 after acquiring 115 additional shares in the last quarter. Carolina Wealth Advisors LLC increased its stake in JPMorgan Chase & Co. by 176.5% during the 4th quarter. Carolina Wealth Advisors LLC now owns 235 shares of the financial services provider valued at $37,000 after acquiring an additional 150 shares in the last quarter. Evolution Advisers Inc. bought a new position in JPMorgan Chase & Co. during Q4, valued at approximately $52,000. Leverty Financial Group LLC bought a new position in JPMorgan Chase & Co. during Q4, valued at around $54,000. Finally, Delos Wealth Advisors LLC increased its stake in JPMorgan Chase & Co. by 13,433.3% during the 4th quarter. Delos Wealth Advisors LLC now owns 406 shares of the financial services provider valued at $64,000 after acquiring 403 additional shares in the last quarter. Institutional investors and hedge funds hold 70.35% of the company’s shares.

Shares of JPM opened at $117.32 on Monday. The stock has a market capitalization of $344.57 billion, a price-to-earnings ratio of 8.70, a growth price-to-earnings ratio of 2.09 and a beta of 1.11. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt ratio of 1.16. JPMorgan Chase & Co. has a fifty-two week low of $111.48 and a fifty-two week high of $172.96. The company’s 50-day moving average price is $122.94 and its two-hundred-day moving average price is $138.87.

JPMorgan Chase & Co. (NYSE: JPM – Get Rating) last reported quarterly results on Wednesday, April 13. The financial services provider reported earnings per share of $2.63 for the quarter, missing analyst consensus estimates of $2.73 per ($0.10). The company posted revenue of $30.72 billion for the quarter, versus analyst estimates of $30.53 billion. JPMorgan Chase & Co. posted a net margin of 33.61% and a return on equity of 16.58%. The company’s quarterly revenue was down 4.8% year over year. During the same period last year, the company made earnings per share of $4.50. On average, stock analysts expect JPMorgan Chase & Co. to post EPS of 11.23 for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, July 31. Shareholders of record on Wednesday, July 6 will receive a dividend of $1.00 per share. The ex-dividend date is Tuesday, July 5. This represents a dividend of $4.00 on an annualized basis and a dividend yield of 3.41%. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.67%.

JPM has been the subject of several recent research reports. UBS Group set a target price of $197.00 on JPMorgan Chase & Co. shares in a Wednesday, March 2 report. Goldman Sachs Group set a price target of $151.00 on JPMorgan Chase & Co. shares and gave the stock a “buy” rating in a Thursday, April 14, report. Oppenheimer upgraded JPMorgan Chase & Co. shares from a “market performer” rating to an “outperformer” rating and set a price target of $167.00 for the company in a Tuesday 3 may. BMO Capital Markets raised its price target on JPMorgan Chase & Co. shares from $150.00 to $156.00 in a Tuesday, May 24 report. Finally, Keefe, Bruyette & Woods reiterated a “market performance” rating and set a price target of $148.00 (vs. $142.00) on JPMorgan Chase & Co. shares in a Tuesday report. May 24. One research analyst has assigned the stock a sell rating, eight have assigned a hold rating and eight have assigned the stock a buy rating. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $161.67.

In other news, insider Ashley Bacon sold 21,012 shares of JPMorgan Chase & Co. in a trade that took place on Tuesday, April 19. The shares were sold at an average price of $130.04, for a total transaction of $2,732,400.48. Following the sale, the insider now owns 178,588 shares of the company, valued at $23,223,583.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, CEO Jennifer Piepszak sold 4,668 shares of JPMorgan Chase & Co. in a trade that took place on Thursday, April 14. The shares were sold at an average price of $126.19, for a total transaction of $589,054.92. As a result of the sale, the CEO now owns 11,135 shares of the company, valued at approximately $1,405,125.65. The disclosure of this sale can be found here. Insiders of the company hold 0.79% of the shares of the company.

About JPMorgan Chase & Co. (Get an evaluation)

JPMorgan Chase & Co operates as a worldwide financial services company. 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 s deposit, investment and lending products, payments and consumer services; lending, deposit, cash management and payment solutions for small businesses; mortgage origination and management activities; residential mortgages and home equity loans; and credit card, car loan and leasing services.

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Institutional ownership by quarter for JPMorgan Chase & Co. (NYSE: JPM)



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