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State of Michigan Retirement System Has $297.65 Million Holdings in JPMorgan Chase & Co. $JPM
The State of Michigan Retirement System increased its stake in JPMorgan Chase & Co. by 1.9% to 943,631 shares, valued at $297.65 million, making it the fund’s 12th largest holding. JPMorgan (NYSE:JPM) maintains a “Moderate Buy” consensus rating from analysts, despite recent insider selling and an ongoing legal challenge related to its cash-sweep program. The company recently appointed a new COO for its Commercial & Investment Bank to focus on data and AI strategy, and declared preferred-share dividends.