Eqis Capital Management Inc. cut its holdings in J P Morgan Chase & Co (NYSE:JPM) by 19.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,483 shares of the financial services provider’s stock after selling 5,148 shares during the period. Eqis Capital Management Inc.’s holdings in J P Morgan Chase & Co were worth $1,964,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in JPM. Pacific Center for Financial Services grew its holdings 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 valued at $123,000 after acquiring an additional 177 shares in the last quarter. Ullmann Financial Group Inc. bought a new position in shares of J P Morgan Chase & Co in the first quarter valued at approximately $148,000. Northwest Investment Counselors LLC bought a new position in shares of J P Morgan Chase & Co in the second quarter valued at approximately $165,000. Cordasco Financial Network grew its holdings in shares of J P Morgan Chase & Co by 496.7% in the second quarter. Cordasco Financial Network now owns 2,333 shares of the financial services provider’s stock valued at $213,000 after acquiring an additional 1,942 shares in the last quarter. Finally, Mascoma Wealth Management LLC grew its holdings in shares of J P Morgan Chase & Co by 3.1% in the second quarter. Mascoma Wealth Management LLC now owns 2,440 shares of the financial services provider’s stock valued at $223,000 after acquiring an additional 73 shares in the last quarter. 77.89% of the stock is owned by institutional investors.
In other J P Morgan Chase & Co news, CFO Marianne Lake sold 17,596 shares of the company’s stock in a transaction dated 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 filing with the SEC, which is available through this link. Also, General Counsel Stacey Friedman sold 9,968 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $90.55, for a total transaction of $902,602.40. Following the completion of the transaction, the general counsel now owns 10,527 shares in the company, valued at $953,219.85. The disclosure for this sale can be found here. Insiders have sold a total of 28,564 shares of company stock worth $2,605,334 over the last quarter. 0.88% of the stock is currently owned by insiders.
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J P Morgan Chase & Co (JPM) traded down 0.30% during mid-day trading on Wednesday, hitting $96.84. The company had a trading volume of 6,614,490 shares. J P Morgan Chase & Co has a 1-year low of $66.74 and a 1-year high of $97.64. The stock has a 50 day moving average price of $93.07 and a 200-day moving average price of $89.60. The stock has a market capitalization of $340.78 billion, a PE ratio of 14.30 and a beta of 1.18.
J P Morgan Chase & Co (NYSE:JPM) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, beating the consensus estimate of $1.59 by $0.23. The company had revenue of $25.50 billion for 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 firm’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.55 EPS. On average, analysts forecast that J P Morgan Chase & Co will post $6.80 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 6th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.31%. This is an increase from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, October 5th. J P Morgan Chase & Co’s dividend payout ratio is presently 33.14%.
JPM has been the topic of several research analyst reports. Credit Suisse Group reiterated a “buy” rating and issued a $110.00 price objective (up previously from $103.00) on shares of J P Morgan Chase & Co in a research note on Monday. They noted that the move was a valuation call. Citigroup Inc. upped their price objective on J P Morgan Chase & Co from $90.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, October 6th. Deutsche Bank AG downgraded J P Morgan Chase & Co from a “buy” rating to a “hold” rating and upped their price objective for the company from $90.00 to $96.00 in a research note on Tuesday, September 26th. Robert W. Baird reiterated a “hold” rating and issued a $88.00 price objective on shares of J P Morgan Chase & Co in a research note on Thursday, September 21st. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $102.00 price objective on shares of J P Morgan Chase & Co in a research note on Friday, September 15th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seventeen have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $88.87.
J P Morgan Chase & Co 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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