J P Morgan Chase & Co (NYSE:JPM) Position Raised by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS raised its stake in J P Morgan Chase & Co (NYSE:JPM) by 265.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 73,518 shares of the financial services provider’s stock after buying an additional 53,380 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in J P Morgan Chase & Co were worth $6,458,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Jackson Grant Investment Advisers Inc. boosted its stake in shares of 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 boosted its stake in shares of 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. boosted its stake in shares of 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 boosted its stake in shares of 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 boosted its stake in shares of 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. Hedge funds and other institutional investors own 74.84% of the company’s stock.

J P Morgan Chase & Co (NYSE:JPM) opened at 92.49 on Tuesday. J P Morgan Chase & Co has a one year low of $64.86 and a one year high of $95.22. The stock has a 50 day moving average of $92.03 and a 200 day moving average of $88.58. The firm has a market cap of $325.43 billion, a price-to-earnings ratio of 13.64 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 for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the prior year, the company posted $1.55 earnings per share. J P Morgan Chase & Co’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities research analysts predict that J P Morgan Chase & Co will post $6.81 EPS for the current fiscal year.

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Several brokerages have issued reports on JPM. Keefe, Bruyette & Woods restated a “hold” rating and set a $92.00 price objective on shares of J P Morgan Chase & Co in a research note on Wednesday, June 7th. Vetr lowered J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $97.41 price objective for the company. in a report on Monday, May 15th. UBS AG reissued 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. Vining Sparks raised J P Morgan Chase & Co to an “outperform” rating and set a $95.00 price objective for the company in a report on Thursday, April 27th. Finally, Guggenheim raised J P Morgan Chase & Co from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $88.25 to $96.00 in a report on Tuesday, April 25th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have given a buy rating to the company’s stock. The company 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 the stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole Giles sold 1,000 shares of the stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $91.29, for a total transaction of $91,290.00. Following the sale, the insider now owns 3,783 shares of the company’s stock, valued at $345,350.07. The disclosure for this sale can be found here. Corporate 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.