JPMorgan Chase & Co. Sells 985,632 Shares of J P Morgan Chase & Co (JPM)

JPMorgan Chase & Co. Sells 985,632 Shares of J P Morgan Chase & Co (JPM)

JPMorgan Chase & Co. cut its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 17.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,695,391 shares of the financial services provider’s stock after selling 985,632 shares during the period. JPMorgan Chase & Co. owned 0.13% of J P Morgan Chase & Co worth $312,667,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of JPM. Family Firm Inc. raised its stake in shares of J P Morgan Chase & Co by 0.3% in the second quarter. Family Firm Inc. now owns 3,489 shares of the financial services provider’s stock worth $217,000 after buying an additional 11 shares during the period. Marshwinds Advisory Co. raised its stake in shares of J P Morgan Chase & Co by 0.3% in the third quarter. Marshwinds Advisory Co. now owns 4,383 shares of the financial services provider’s stock worth $292,000 after buying an additional 11 shares during the period. Jackson Grant Investment Advisers Inc. raised its stake in shares of J P Morgan Chase & Co by 0.7% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,014 shares of the financial services provider’s stock worth $125,000 after buying an additional 14 shares during the period. Evanson Asset Management LLC raised its stake in shares of J P Morgan Chase & Co by 0.4% in the second quarter. Evanson Asset Management LLC now owns 4,969 shares of the financial services provider’s stock worth $309,000 after buying an additional 18 shares during the period. Finally, ELM Advisors LLC raised its stake in shares of J P Morgan Chase & Co by 0.5% in the third quarter. ELM Advisors LLC now owns 4,013 shares of the financial services provider’s stock worth $267,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 73.55% of the company’s stock.

J P Morgan Chase & Co (NYSE:JPM) opened at 86.93 on Friday. The stock’s 50 day moving average price is $85.78 and its 200 day moving average price is $73.04. The firm has a market capitalization of $310.40 billion, a PE ratio of 14.04 and a beta of 1.54. J P Morgan Chase & Co has a 12 month low of $52.50 and a 12 month high of $88.17.

J P Morgan Chase & Co (NYSE:JPM) last released its quarterly earnings data on Friday, January 13th. The financial services provider reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.29. J P Morgan Chase & Co had a return on equity of 10.91% and a net margin of 23.45%. The company had revenue of $24.30 billion for the quarter, compared to analyst estimates of $23.48 billion. During the same period in the prior year, the company posted $1.68 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts expect that J P Morgan Chase & Co will post $6.55 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, January 6th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, January 4th. This represents a $1.92 annualized dividend and a dividend yield of 2.21%. J P Morgan Chase & Co’s dividend payout ratio is currently 31.02%.

A number of brokerages have weighed in on JPM. Vetr lowered J P Morgan Chase & Co from a “buy” rating to a “hold” rating and set a $87.76 price objective for the company. in a research note on Tuesday, January 24th. Sandler O’Neill restated a “hold” rating on shares of J P Morgan Chase & Co in a research note on Wednesday, January 11th. BMO Capital Markets restated a “hold” rating and set a $77.00 price objective on shares of J P Morgan Chase & Co in a research note on Wednesday, January 11th. Goldman Sachs Group, Inc. (The) set a $89.00 price objective on J P Morgan Chase & Co and gave the company a “hold” rating in a research note on Wednesday, January 11th. Finally, Nomura restated a “neutral” rating and set a $80.00 price objective on shares of J P Morgan Chase & Co in a research note on Tuesday, January 17th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eighteen have given a buy rating to the company. J P Morgan Chase & Co has an average rating of “Hold” and a consensus target price of $76.96.

In other news, CEO Douglas B. Petno sold 6,728 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $84.16, for a total value of $566,228.48. Following the sale, the chief executive officer now directly owns 115,938 shares in the company, valued at approximately $9,757,342.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gordon Smith sold 65,865 shares of the company’s stock in a transaction that occurred on Wednesday, January 18th. The shares were sold at an average price of $83.67, for a total value of $5,510,924.55. Following the completion of the sale, the insider now owns 237,466 shares in the company, valued at $19,868,780.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,699 shares of company stock worth $17,009,515. Corporate insiders own 0.85% of the company’s stock.

J P Morgan Chase & Co Company Profile

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment serves consumers and businesses through personal service at bank branches and through automatic teller machines, online, mobile and telephone banking.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for J P Morgan Chase & Co (NYSE:JPM).

Related posts

Leave a Comment