KAMES CAPITAL plc cut its stake in J P Morgan Chase & Co (NYSE:JPM) by 15.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,530,273 shares of the financial services provider’s stock after selling 272,928 shares during the period. J P Morgan Chase & Co comprises about 3.6% of KAMES CAPITAL plc’s holdings, making the stock its 2nd largest position. KAMES CAPITAL plc’s holdings in J P Morgan Chase & Co were worth $134,419,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Pacific Center for Financial Services purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter valued at approximately $106,000. Northwest Quadrant Wealth Management LLC purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter valued at approximately $125,000. Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter valued at approximately $125,000. Glacier Peak Capital LLC purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter valued at approximately $129,000. Finally, Tortoise Investment Management LLC raised its stake in shares of J P Morgan Chase & Co by 434.9% in the fourth quarter. Tortoise Investment Management LLC now owns 1,578 shares of the financial services provider’s stock valued at $136,000 after buying an additional 1,283 shares during the last quarter. 74.12% of the stock is owned by institutional investors.
Shares of J P Morgan Chase & Co (JPM) opened at 91.28 on Tuesday. The firm’s 50-day moving average price is $89.27 and its 200-day moving average price is $87.81. J P Morgan Chase & Co has a 12 month low of $63.38 and a 12 month high of $94.51. The stock has a market capitalization of $321.21 billion, a P/E ratio of 13.47 and a beta of 1.19.
J P Morgan Chase & Co (NYSE:JPM) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.23. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.55 EPS. On average, equities research analysts forecast that J P Morgan Chase & Co will post $6.81 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Monday, July 3rd. J P Morgan Chase & Co’s dividend payout ratio is currently 29.59%.
Several analysts recently commented on the company. UBS AG reaffirmed a “buy” rating and issued a $101.00 price objective on shares of J P Morgan Chase & Co in a report on Monday, May 15th. Bank of America Corporation reaffirmed a “buy” rating and issued a $99.00 price objective on shares of J P Morgan Chase & Co in a report on Monday, July 17th. BidaskClub lowered J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Instinet reaffirmed a “neutral” rating and issued a $84.00 price objective (down previously from $87.00) on shares of J P Morgan Chase & Co in a report on Saturday, June 3rd. Finally, Zacks Investment Research raised J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $85.43.
In other news, insider Ashley Bacon sold 6,514 shares of J P Morgan Chase & Co stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $87.21, for a total transaction of $568,085.94. Following the sale, the insider now owns 47,384 shares of the company’s stock, valued at approximately $4,132,358.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nicole Giles sold 1,000 shares of J P Morgan Chase & Co stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $91.29, for a total transaction of $91,290.00. Following the sale, the insider now directly owns 3,783 shares in the company, valued at approximately $345,350.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,110 shares of company stock worth $2,270,818. Insiders own 0.85% of the company’s stock.
About J P Morgan Chase & Co
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 offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.
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