Quantitative Systematic Strategies LLC bought a new position in J P Morgan Chase & Co (NYSE:JPM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,640 shares of the financial services provider’s stock, valued at approximately $332,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Pacific Center for Financial Services boosted its position in shares of J P Morgan Chase & Co by 14.5% in the first quarter. Pacific Center for Financial Services now owns 1,401 shares of the financial services provider’s stock worth $123,000 after buying an additional 177 shares during the period. Horrell Capital Management Inc. boosted its holdings in J P Morgan Chase & Co by 5.0% in the first quarter. Horrell Capital Management Inc. now owns 1,647 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 78 shares during the last quarter. Ullmann Financial Group Inc. purchased a new position in J P Morgan Chase & Co in the first quarter valued at about $148,000. Northwest Investment Counselors LLC purchased a new position in J P Morgan Chase & Co in the second quarter valued at about $165,000. Finally, Mitchell Sinkler & Starr PA purchased a new position in J P Morgan Chase & Co in the second quarter valued at about $212,000. 78.02% of the stock is owned by institutional investors.
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In related news, CFO Marianne Lake sold 17,596 shares of the company’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicole Giles sold 1,000 shares of the company’s 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 completion of the transaction, the insider now directly owns 3,783 shares of the company’s stock, valued at $345,350.07. The disclosure for this sale can be found here. Insiders sold a total of 28,564 shares of company stock valued at $2,605,334 in the last three months. 0.88% of the stock is owned by company insiders.
A number of brokerages recently commented on JPM. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $93.00 price target on shares of J P Morgan Chase & Co in a report on Thursday, July 6th. Wells Fargo & Company began coverage on J P Morgan Chase & Co in a report on Wednesday, August 9th. They issued an “outperform” rating and a $110.00 price target for the company. Buckingham Research reissued a “neutral” rating and issued a $100.00 price target (up previously from $94.00) on shares of J P Morgan Chase & Co in a 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 report on Thursday, August 3rd. Finally, BidaskClub raised J P Morgan Chase & Co from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $85.59.
J P Morgan Chase & Co (NYSE:JPM) traded up 1.84% during mid-day trading on Monday, reaching $90.05. The company had a trading volume of 7,135,240 shares. The company’s 50 day moving average is $91.67 and its 200 day moving average is $89.00. J P Morgan Chase & Co has a 52-week low of $65.11 and a 52-week high of $95.22. The stock has a market capitalization of $316.84 billion, a price-to-earnings ratio of 13.28 and a beta of 1.19.
J P Morgan Chase & Co (NYSE:JPM) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, beating the 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 analyst estimates of $24.38 billion. During the same quarter in the previous year, the business earned $1.55 EPS. The firm’s revenue was up 4.6% on a year-over-year basis. Equities analysts predict that J P Morgan Chase & Co will post $6.80 earnings per share for the current year.
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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