State of Michigan Retirement System 13F: Cuts JPM Stake by $6M
Key Points
- The State of Michigan Retirement System's reported value in JPMorgan Chase is now about $11.02 billion, with the trimmed position worth roughly $220.9 million after the reduction.
- State of Michigan Retirement System held 667,831 $JPM shares at quarter end, down 2.65% from the prior quarter.
- JPMorgan Chase shares recently traded around $335.79, which is about equal to the $336.17 closing price on October 27, 2026, and below its 50-day moving average by 2.6%.
- Analysts have a consensus buy rating on JPMorgan Chase, with a mean price target of $372.26 based on 23 opinions.
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On October 27, 2026, the State of Michigan Retirement System trimmed its stake in JPMorgan Chase & Co. (JPM) by 18,200 shares. This change reduces its holdings to 667,831 shares, valued at approximately $220.9 million, according to the fund's latest Form 13F filing with the SEC.
JPM
JPMorgan Chase & Co.
Where JPMorgan Chase Fits in State of Michigan Retirement System's Portfolio
The stake now represents 2.01% of the State of Michigan Retirement System's total reported portfolio, ranking 15th among its holdings. The fund's reported value in JPMorgan Chase is about $11.02 billion, and this reduction corresponds to a decrease of roughly 2.65% in its position.
Other Institutional Activity in JPMorgan Chase
Indivisible Partners recently increased its position in JPMorgan by 13,803 shares, bringing its total to 41,342 shares valued at about $13.7 million. Additionally, Asset Management One boosted its stake by 36,589 shares, totaling 1,354,702 shares.
JPMorgan Chase & Co. Stock Up 1.3%
JPMorgan Chase shares recently traded around $335.79, which is about equal to the $336.17 closing price on October 27, 2026. The stock is currently below its 50-day moving average by about 2.6%, while it remains above its 200-day moving average by 4.1%.
Recent Earnings
JPMorgan Chase reported trailing twelve-month revenue of about $190.7 billion and earnings per share (EPS) of $23.84. The next earnings report is scheduled for January 14, 2027.
Dividend
JPMorgan Chase pays an annual dividend of $6.60 per share, yielding approximately 1.98%.
Insider Buying and Selling at JPMorgan Chase & Co.
General Counsel Stacey R. Friedman sold 5,468 shares on May 20, 2026, for about $1.64 million at an average price of $300.27. Another sale occurred on June 22, 2026, when Friedman sold 5,467 shares at an average price of $330.73, totaling about $1.81 million.
Analysts Set New Price Targets
On October 14, 2026, Truist Securities maintained a Hold rating with a target price of $361.00. Barclays also maintained an Overweight rating with a target price of $425.00. The consensus recommendation for JPMorgan Chase is a buy, with a mean price target of $372.26 from 23 analysts.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. operates as a bank and financial holding company, providing a range of financial services globally. It serves clients through segments including Consumer & Community Banking, Commercial & Investment Bank, and Asset & Wealth Management.
Bottom Line
Investors should keep an eye on JPMorgan Chase's upcoming earnings report scheduled for January 14, 2027. The State of Michigan Retirement System's recent position adjustment highlights ongoing portfolio management strategies as market conditions evolve.
Related Filing Alerts
Source: State of Michigan Retirement System's 13F filing on $JPM (Oct 27, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts