Weiss Multi Strategy Advisers LLC purchased a new position in J P Morgan Chase & Co (NYSE:JPM) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,713 shares of the financial services provider’s stock, valued at approximately $414,000.
Several other hedge funds also recently modified their holdings of the company. Billings Capital Management LLC raised its stake in shares of J P Morgan Chase & Co by 38.3% in the fourth quarter. Billings Capital Management LLC now owns 14,767 shares of the financial services provider’s stock worth $1,274,000 after buying an additional 4,088 shares in the last quarter. Cheviot Value Management LLC bought a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth $377,000. SRS Capital Advisors Inc. bought a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth $329,000. Wexford Capital LP raised its stake in shares of J P Morgan Chase & Co by 133.8% in the fourth quarter. Wexford Capital LP now owns 50,251 shares of the financial services provider’s stock worth $4,336,000 after buying an additional 28,759 shares in the last quarter. Finally, Wallace Capital Management Inc. bought a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth $213,000. 74.06% of the stock is owned by institutional investors.
J P Morgan Chase & Co (NYSE:JPM) traded down 0.84% during mid-day trading on Friday, reaching $91.42. 10,679,534 shares of the company’s stock traded hands. J P Morgan Chase & Co has a 1-year low of $65.11 and a 1-year high of $95.22. The firm has a 50-day moving average price of $91.87 and a 200-day moving average price of $88.50. The stock has a market cap of $321.66 billion, a P/E ratio of 13.49 and a beta of 1.19.
J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.23. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period last year, the company earned $1.55 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year. Equities research analysts anticipate 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.19%. J P Morgan Chase & Co’s dividend payout ratio (DPR) is presently 29.59%.
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JPM has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $47.00 price target on shares of J P Morgan Chase & Co in a research note on Friday, April 14th. Nomura reaffirmed a “neutral” rating and issued a $83.00 price target on shares of J P Morgan Chase & Co in a research note on Monday, April 17th. Guggenheim raised shares of J P Morgan Chase & Co from a “neutral” rating to a “buy” rating and upped their price target for the stock from $88.25 to $96.00 in a research note on Tuesday, April 25th. Vetr lowered shares of J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $99.01 price target for the company. in a research note on Wednesday, April 26th. Finally, Vining Sparks upgraded shares of J P Morgan Chase & Co to an “outperform” rating and set a $95.00 target price on the stock in a report on Thursday, April 27th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have given a buy rating to the company’s stock. J P Morgan Chase & Co currently has an average rating of “Hold” and an average price target of $85.53.
In other news, 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 value of $1,611,441.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 completion of the sale, the insider now owns 3,783 shares in the company, valued at $345,350.07. The disclosure for this sale can be found here. 0.85% of the stock is owned by company insiders.
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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