Traders Buy J P Morgan Chase & Co (JPM) on Weakness

Investors bought shares of J P Morgan Chase & Co (NYSE:JPM) on weakness during trading on Tuesday. $433.46 million flowed into the stock on the tick-up and $320.69 million flowed out of the stock on the tick-down, for a money net flow of $112.77 million into the stock. Of all companies tracked, J P Morgan Chase & Co had the 8th highest net in-flow for the day. J P Morgan Chase & Co traded down ($1.23) for the day and closed at $105.72

Several equities analysts recently commented on JPM shares. Wells Fargo & Company started coverage on shares of J P Morgan Chase & Co in a report on Wednesday, August 9th. They set an “outperform” rating and a $110.00 price target on the stock. Royal Bank Of Canada restated a “buy” rating and issued a $95.00 target price on shares of J P Morgan Chase & Co in a research note on Friday, August 18th. Keefe, Bruyette & Woods set a $96.00 target price on shares of J P Morgan Chase & Co and gave the stock a “hold” rating in a research note on Saturday, August 19th. Zacks Investment Research upgraded shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a research note on Thursday, August 24th. Finally, BMO Capital Markets restated a “hold” rating and issued a $86.00 target price on shares of J P Morgan Chase & Co in a research note on Friday, August 25th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $92.18.

The stock has a market cap of $363,592.56, a PE ratio of 15.10, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.37.

J P Morgan Chase & Co (NYSE:JPM) last announced its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.09. J P Morgan Chase & Co had a net margin of 24.08% and a return on equity of 11.68%. The firm had revenue of $25.33 billion during the quarter, compared to analysts’ expectations of $24.91 billion. During the same quarter in the prior year, the company earned $1.58 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. analysts anticipate that J P Morgan Chase & Co will post 6.91 EPS for the current year.

In other news, General Counsel Stacey Friedman sold 2,099 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $101.96, for a total value of $214,014.04. Following the completion of the sale, the general counsel now owns 15,279 shares of the company’s stock, valued at approximately $1,557,846.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in J P Morgan Chase & Co by 1.5% during the second quarter. Vanguard Group Inc. now owns 249,887,622 shares of the financial services provider’s stock valued at $22,839,729,000 after acquiring an additional 3,717,683 shares during the last quarter. State Street Corp increased its stake in J P Morgan Chase & Co by 0.8% during 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 purchasing an additional 1,357,194 shares in the last quarter. Northern Trust Corp increased its stake in J P Morgan Chase & Co by 1.8% during the 2nd quarter. Northern Trust Corp now owns 48,965,734 shares of the financial services provider’s stock valued at $4,475,468,000 after purchasing an additional 847,463 shares in the last quarter. Capital Research Global Investors increased its stake in J P Morgan Chase & Co by 2.5% during the 2nd quarter. Capital Research Global Investors now owns 31,714,763 shares of the financial services provider’s stock valued at $2,898,729,000 after purchasing an additional 765,082 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in J P Morgan Chase & Co by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 28,683,523 shares of the financial services provider’s stock valued at $2,621,677,000 after purchasing an additional 176,306 shares in the last quarter. 73.93% of the stock is owned by hedge funds and other institutional investors.

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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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