Oakbrook Investments LLC cut its stake in J P Morgan Chase & Co (NYSE:JPM) by 45.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 112,763 shares of the financial services provider’s stock after selling 93,360 shares during the period. Oakbrook Investments LLC’s holdings in J P Morgan Chase & Co were worth $9,905,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in JPM. Pacific Center for Financial Services bought a new position in shares of J P Morgan Chase & Co during the fourth quarter worth $106,000. Northwest Quadrant Wealth Management LLC bought a new position in shares of J P Morgan Chase & Co during the fourth quarter worth $125,000. Thomas J. Herzfeld Advisors Inc. bought a new position in shares of J P Morgan Chase & Co during the fourth quarter worth $125,000. Glacier Peak Capital LLC bought a new position in shares of J P Morgan Chase & Co during the fourth quarter worth $129,000. Finally, Tortoise Investment Management LLC raised its position in shares of J P Morgan Chase & Co by 434.9% in the fourth quarter. Tortoise Investment Management LLC now owns 1,578 shares of the financial services provider’s stock worth $136,000 after buying an additional 1,283 shares during the period. 74.12% of the stock is owned by hedge funds and other institutional investors.
Shares of J P Morgan Chase & Co (JPM) traded down 0.29% during midday trading on Friday, hitting $91.28. 9,351,915 shares of the company were exchanged. The stock has a market cap of $321.21 billion, a PE ratio of 13.47 and a beta of 1.19. J P Morgan Chase & Co has a one year low of $63.38 and a one year high of $94.51. The stock’s 50-day moving average is $90.03 and its 200-day moving average is $87.91.
J P Morgan Chase & Co (NYSE:JPM) last announced its earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.23. The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the company posted $1.55 EPS. Equities research analysts anticipate that J P Morgan Chase & Co will post $6.82 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, July 3rd. J P Morgan Chase & Co’s dividend payout ratio (DPR) is currently 29.59%.
JPM has been the topic of a number of research analyst reports. Buckingham Research reiterated 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. Vetr upgraded shares of J P Morgan Chase & Co from a “buy” rating to a “strong-buy” rating and set a $97.82 price target on the stock in a report on Wednesday, April 12th. Bank of America Corporation reiterated an “outperform” rating and issued a $99.00 price target on shares of J P Morgan Chase & Co in a report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $93.00 target price on shares of J P Morgan Chase & Co in a report on Thursday, July 6th. Finally, Nomura restated a “neutral” rating and set a $83.00 target price on shares of J P Morgan Chase & Co in a report on Monday, April 17th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nineteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $85.43.
In related news, insider Nicole Giles sold 1,000 shares of the stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $91.29, for a total transaction of $91,290.00. Following the completion of the sale, the insider now owns 3,783 shares in the company, valued at approximately $345,350.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ashley Bacon sold 6,514 shares of the firm’s stock in a transaction dated 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 owns 47,384 shares of the company’s stock, valued at approximately $4,132,358.64. The disclosure for this sale can be found here. Insiders have sold a total of 25,110 shares of company stock valued at $2,270,818 in the last quarter. 0.85% of the stock is currently owned by corporate insiders.
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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