Sumitomo Mitsui Asset Management Company LTD lowered its stake in J P Morgan Chase & Co (NYSE:JPM) by 1.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 388,626 shares of the financial services provider’s stock after selling 5,427 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in J P Morgan Chase & Co were worth $34,136,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in JPM. Jackson Grant Investment Advisers Inc. raised its stake in J P Morgan Chase & Co by 0.5% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 2,566 shares of the financial services provider’s stock valued at $221,000 after buying an additional 14 shares during the last quarter. Paradigm Financial Advisors LLC raised its stake in J P Morgan Chase & Co by 0.3% in the first quarter. Paradigm Financial Advisors LLC now owns 6,805 shares of the financial services provider’s stock valued at $597,000 after buying an additional 21 shares during the last quarter. Asset Management Group Inc. raised its stake in J P Morgan Chase & Co by 0.7% in the fourth quarter. Asset Management Group Inc. now owns 3,184 shares of the financial services provider’s stock valued at $275,000 after buying an additional 22 shares during the last quarter. Cypress Wealth Advisors LLC raised its stake in J P Morgan Chase & Co by 0.3% in the fourth quarter. Cypress Wealth Advisors LLC now owns 9,895 shares of the financial services provider’s stock valued at $854,000 after buying an additional 27 shares during the last quarter. Finally, Weybosset Research & Management LLC raised its stake in J P Morgan Chase & Co by 0.9% in the first quarter. Weybosset Research & Management LLC now owns 3,406 shares of the financial services provider’s stock valued at $299,000 after buying an additional 30 shares during the last quarter. 74.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of J P Morgan Chase & Co (NYSE JPM) opened at 93.66 on Friday. The firm has a 50-day moving average of $90.52 and a 200 day moving average of $88.06. The firm has a market cap of $329.59 billion, a PE ratio of 13.82 and a beta of 1.19. J P Morgan Chase & Co has a 52 week low of $63.65 and a 52 week high of $94.51.
J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.23. The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. J P Morgan Chase & Co’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.55 EPS. Equities research analysts predict that J P Morgan Chase & Co will post $6.81 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Thursday, July 6th were issued a $0.50 dividend. The ex-dividend date was Monday, July 3rd. This represents a $2.00 annualized dividend and a yield of 2.14%. J P Morgan Chase & Co’s payout ratio is 29.59%.
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JPM has been the subject of a number of research analyst reports. Buckingham Research reissued a “neutral” rating and set a $100.00 target price (up previously from $94.00) on shares of J P Morgan Chase & Co in a research report on Monday, July 10th. Vetr upgraded shares of J P Morgan Chase & Co from a “buy” rating to a “strong-buy” rating and set a $97.82 price objective on the stock in a report on Wednesday, April 12th. Bank of America Corporation restated an “outperform” rating and set a $99.00 price objective on shares of J P Morgan Chase & Co in a report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $93.00 target price on shares of J P Morgan Chase & Co in a research note on Thursday, July 6th. Finally, Nomura reissued a “neutral” rating and issued a $83.00 target price on shares of J P Morgan Chase & Co in a research note on Monday, April 17th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have assigned a buy rating to the stock. J P Morgan Chase & Co currently has a consensus rating of “Hold” and an average target price of $84.71.
In other J P Morgan Chase & Co news, insider Ashley Bacon sold 6,514 shares of the business’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $87.21, for a total transaction of $568,085.94. Following the completion of the sale, the insider now directly owns 47,384 shares in the company, valued at approximately $4,132,358.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Marianne Lake sold 17,596 shares of the business’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $91.58, for a total value of $1,611,441.68. The disclosure for this sale can be found here. Insiders sold a total of 25,110 shares of company stock valued at $2,270,818 over the last quarter. 0.85% of the stock is owned by corporate insiders.
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 offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.
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