J P Morgan Chase & Co (JPM) Position Lifted by State of Wisconsin Investment Board

State of Wisconsin Investment Board raised its stake in J P Morgan Chase & Co (NYSE:JPM) by 18.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,990,986 shares of the financial services provider’s stock after purchasing an additional 631,810 shares during the quarter. J P Morgan Chase & Co accounts for 1.2% of State of Wisconsin Investment Board’s investment portfolio, making the stock its 9th biggest holding. State of Wisconsin Investment Board owned about 0.11% of J P Morgan Chase & Co worth $364,776,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in JPM. Harbour Capital Advisors LLC lifted its holdings in shares of J P Morgan Chase & Co by 8,767.4% in the 2nd quarter. Harbour Capital Advisors LLC now owns 2,794,464 shares of the financial services provider’s stock valued at $30,574,000 after buying an additional 2,762,950 shares during the period. Karp Capital Management Corp acquired a new stake in shares of J P Morgan Chase & Co in the 1st quarter valued at approximately $140,124,000. State Street Corp lifted its holdings in shares of J P Morgan Chase & Co by 0.8% in the 1st quarter. State Street Corp now owns 170,534,760 shares of the financial services provider’s stock valued at $14,979,775,000 after buying an additional 1,357,194 shares during the period. Pioneer Investment Management Inc. lifted its holdings in shares of J P Morgan Chase & Co by 22.2% in the 1st quarter. Pioneer Investment Management Inc. now owns 7,402,919 shares of the financial services provider’s stock valued at $650,272,000 after buying an additional 1,344,295 shares during the period. Finally, Hexavest Inc. lifted its holdings in shares of J P Morgan Chase & Co by 33,815.1% in the 2nd quarter. Hexavest Inc. now owns 904,516 shares of the financial services provider’s stock valued at $82,673,000 after buying an additional 901,849 shares during the period. Institutional investors own 78.59% of the company’s stock.

J P Morgan Chase & Co (NYSE JPM) opened at $99.01 on Tuesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $343,360.00, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 2.13 and a beta of 1.22. J P Morgan Chase & Co has a one year low of $77.29 and a one year high of $102.42.

J P Morgan Chase & Co (NYSE:JPM) last issued its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.09. The firm had revenue of $25.33 billion during the quarter, compared to analyst estimates of $24.91 billion. J P Morgan Chase & Co had a return on equity of 11.68% and a net margin of 24.08%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the company posted $1.58 EPS. equities research analysts predict that J P Morgan Chase & Co will post 6.91 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were paid a dividend of $0.56 per share. This is a positive change from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. This represents a $2.24 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Thursday, October 5th. J P Morgan Chase & Co’s dividend payout ratio (DPR) is presently 32.14%.

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Several equities analysts recently issued reports on JPM shares. Wells Fargo & Company lifted their price objective on J P Morgan Chase & Co from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Vetr raised J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $93.14 price target for the company in a report on Wednesday, September 6th. Jefferies Group LLC reissued a “buy” rating and issued a $102.00 price target on shares of J P Morgan Chase & Co in a report on Friday, September 15th. Zacks Investment Research cut J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $86.00 price target on shares of J P Morgan Chase & Co in a report on Friday, August 25th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the company. J P Morgan Chase & Co presently has an average rating of “Hold” and a consensus target price of $92.18.

In other news, General Counsel Stacey Friedman sold 2,099 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $101.96, for a total transaction of $214,014.04. Following the completion of the sale, the general counsel now owns 15,279 shares in the company, valued at approximately $1,557,846.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.88% 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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Institutional Ownership by Quarter for J P Morgan Chase & Co (NYSE:JPM)

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