Pictet Asset Management Ltd. Decreases Position in J P Morgan Chase & Co (NYSE:JPM)

Pictet Asset Management Ltd. cut its stake in shares of J P Morgan Chase & Co (NYSE:JPM) by 9.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,081,209 shares of the financial services provider’s stock after selling 225,196 shares during the period. Pictet Asset Management Ltd. owned about 0.06% of J P Morgan Chase & Co worth $182,813,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of JPM. Pacific Center for Financial Services purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $106,000. Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $125,000. Glacier Peak Capital LLC purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $129,000. 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 worth $136,000 after buying an additional 1,283 shares in the last quarter. Finally, Horrell Capital Management Inc. raised its stake in shares of J P Morgan Chase & Co by 5.0% in the first quarter. Horrell Capital Management Inc. now owns 1,647 shares of the financial services provider’s stock worth $145,000 after buying an additional 78 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

J P Morgan Chase & Co (NYSE:JPM) traded down 0.79% during trading on Friday, hitting $91.46. The stock had a trading volume of 9,453,399 shares. The firm has a market cap of $321.80 billion, a price-to-earnings ratio of 13.49 and a beta of 1.19. J P Morgan Chase & Co has a one year low of $64.86 and a one year high of $95.22. The stock’s 50-day moving average is $91.75 and its 200 day moving average is $88.44.

J P Morgan Chase & Co (NYSE:JPM) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.23. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 earnings per share. Equities analysts anticipate that J P Morgan Chase & Co will post $6.81 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Thursday, July 6th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Monday, July 3rd. J P Morgan Chase & Co’s dividend payout ratio is 29.59%.

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A number of research analysts have issued reports on JPM shares. Vetr downgraded J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $97.41 price target for the company. in a report on Monday, May 15th. Wells Fargo & Company started coverage on J P Morgan Chase & Co in a report on Wednesday. They issued an “outperform” rating and a $110.00 price target for the company. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of J P Morgan Chase & Co in a research note on Friday, July 21st. Vining Sparks raised J P Morgan Chase & Co to an “outperform” rating and set a $95.00 target price for the company in a research note on Thursday, April 27th. Finally, Zacks Investment Research raised J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research note on Tuesday, July 18th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $85.53.

In other news, 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 value of $91,290.00. Following the completion of the transaction, the insider now owns 3,783 shares in the company, valued at $345,350.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marianne Lake sold 17,596 shares of J P Morgan Chase & Co stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $91.58, for a total transaction of $1,611,441.68. The disclosure for this sale can be found here. 0.85% of the stock is owned by company 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.