Retirement Systems of Alabama Decreases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Retirement Systems of Alabama trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.5% in the third quarter, Holdings Channel reports. The firm owned 967,142 shares of the financial services provider’s stock after selling 45,782 shares during the period. JPMorgan Chase & Co. makes up 0.8% of Retirement Systems of Alabama’s portfolio, making the stock its 15th biggest position. Retirement Systems of Alabama’s holdings in JPMorgan Chase & Co. were worth $203,932,000 as of its most recent filing with the Securities and Exchange Commission.

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

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $242.23 on Friday. JPMorgan Chase & Co. has a 52 week low of $161.71 and a 52 week high of $254.31. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock has a market cap of $681.96 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11. The company has a 50-day moving average price of $233.51 and a two-hundred day moving average price of $216.37.

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

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.06%. The ex-dividend date is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on JPM. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Royal Bank of Canada upped their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Citigroup upped their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Finally, Daiwa Capital Markets cut their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $234.81.

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, 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.