Catalyst Capital Advisors LLC Cuts Holdings in J P Morgan Chase & Co (JPM)

Catalyst Capital Advisors LLC lessened its stake in J P Morgan Chase & Co (NYSE:JPM) by 74.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,200 shares of the financial services provider’s stock after selling 17,970 shares during the period. Catalyst Capital Advisors LLC’s holdings in J P Morgan Chase & Co were worth $566,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in JPM. State Street Corp boosted its stake 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 purchasing an additional 1,357,194 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of J P Morgan Chase & Co by 3.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 12,241,448 shares of the financial services provider’s stock valued at $1,118,869,000 after purchasing an additional 424,317 shares in the last quarter. Pioneer Investment Management Inc. boosted its stake 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 purchasing an additional 1,344,295 shares in the last quarter. Swedbank boosted its stake in shares of J P Morgan Chase & Co by 19.0% in the 1st quarter. Swedbank now owns 5,261,038 shares of the financial services provider’s stock valued at $462,130,000 after purchasing an additional 840,518 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its stake in shares of J P Morgan Chase & Co by 13.0% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,668,366 shares of the financial services provider’s stock valued at $426,689,000 after purchasing an additional 536,181 shares in the last quarter. 78.97% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on JPM. Wells Fargo & Company upped their price objective on shares of J P Morgan Chase & Co from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $105.00 price objective on shares of J P Morgan Chase & Co in a research note on Wednesday. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of J P Morgan Chase & Co in a research note on Wednesday, October 11th. Citigroup Inc. upped their price objective on shares of 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. Finally, Credit Suisse Group reaffirmed 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, October 9th. They noted that the move was a valuation call. Three investment 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. The company currently has an average rating of “Hold” and an average price target of $92.18.

Shares of J P Morgan Chase & Co (JPM) opened at $97.27 on Wednesday. J P Morgan Chase & Co has a 1 year low of $76.88 and a 1 year high of $102.42. The company has a market cap of $339,547.38, a PE ratio of 14.10, a P/E/G ratio of 2.12 and a beta of 1.22. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.03 and a current ratio of 1.03.

J P Morgan Chase & Co (NYSE:JPM) last announced its quarterly earnings data on Thursday, October 12th. The financial services provider reported $1.76 EPS for the quarter, beating the Thomson Reuters’ 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 company had revenue of $25.33 billion for the quarter, compared to the consensus estimate of $24.91 billion. During the same period in the prior year, the firm posted $1.58 EPS. J P Morgan Chase & Co’s revenue for the quarter was up 2.6% on a year-over-year basis. equities analysts predict that J P Morgan Chase & Co will post 6.91 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 6th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.30%. This is an increase from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. The ex-dividend date was Thursday, October 5th. J P Morgan Chase & Co’s dividend payout ratio is 32.28%.

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In related news, General Counsel Stacey Friedman sold 2,099 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $101.96, for a total transaction of $214,014.04. Following the sale, the general counsel now directly owns 15,279 shares of the company’s stock, valued at approximately $1,557,846.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.88% of the company’s stock.

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

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