Osborne Partners Capital Management LLC Reduces Position in J P Morgan Chase & Co (JPM)

Osborne Partners Capital Management LLC lowered its stake in J P Morgan Chase & Co (NYSE:JPM) by 3.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 227,258 shares of the financial services provider’s stock after selling 7,877 shares during the period. J P Morgan Chase & Co accounts for approximately 2.9% of Osborne Partners Capital Management LLC’s holdings, making the stock its 4th largest position. Osborne Partners Capital Management LLC’s holdings in J P Morgan Chase & Co were worth $19,962,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. FMR LLC increased its position in J P Morgan Chase & Co by 19.4% in the fourth quarter. FMR LLC now owns 96,587,143 shares of the financial services provider’s stock valued at $8,334,505,000 after buying an additional 15,715,835 shares during the last quarter. Norges Bank acquired a new position in J P Morgan Chase & Co during the fourth quarter valued at approximately $2,897,377,000. Dodge & Cox acquired a new position in J P Morgan Chase & Co during the fourth quarter valued at approximately $2,297,616,000. Teachers Advisors LLC increased its position in J P Morgan Chase & Co by 10.1% in the fourth quarter. Teachers Advisors LLC now owns 8,317,280 shares of the financial services provider’s stock valued at $717,698,000 after buying an additional 764,019 shares during the last quarter. Finally, FIL Ltd increased its position in J P Morgan Chase & Co by 3.0% in the fourth quarter. FIL Ltd now owns 7,365,199 shares of the financial services provider’s stock valued at $635,544,000 after buying an additional 211,295 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

J P Morgan Chase & Co (NYSE JPM) traded down 0.36% on Tuesday, reaching $93.68. 13,739,699 shares of the company traded hands. The stock has a 50-day moving average of $90.52 and a 200 day moving average of $88.06. The company has a market capitalization of $329.66 billion, a PE ratio of 13.82 and a beta of 1.19. J P Morgan Chase & Co has a 52-week low of $63.65 and a 52-week high of $95.22.

J P Morgan Chase & Co (NYSE:JPM) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.23. The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.55 earnings per share. On average, equities analysts forecast that J P Morgan Chase & Co will post $6.81 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Thursday, July 6th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Monday, July 3rd. J P Morgan Chase & Co’s payout ratio is currently 29.59%.

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Several research firms have commented on JPM. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $93.00 target price on shares of J P Morgan Chase & Co in a research report on Thursday, July 6th. Buckingham Research reissued a “neutral” rating and set a $100.00 target price (up from $94.00) on shares of J P Morgan Chase & Co in a research report on Monday, July 10th. Berenberg Bank set a $65.00 price target on J P Morgan Chase & Co and gave the company a “sell” rating in a research report on Thursday, August 3rd. Deutsche Bank AG reaffirmed a “buy” rating on shares of J P Morgan Chase & Co in a research report on Monday, July 3rd. Finally, BidaskClub raised J P Morgan Chase & Co from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Three 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 presently has a consensus rating of “Hold” and a consensus price target of $84.71.

In other news, insider Ashley Bacon sold 6,514 shares of the stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $87.21, for a total transaction of $568,085.94. Following the completion of the sale, the insider now directly owns 47,384 shares in the company, valued at $4,132,358.64. The transaction was disclosed in a filing with the SEC, which is available at this link. 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. Insiders have sold 25,110 shares of company stock valued at $2,270,818 in the last ninety days. Insiders own 0.85% of the company’s stock.

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.

Institutional Ownership by Quarter for J P Morgan Chase & Co (NYSE:JPM)

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