Hexavest Inc. continued to hold its stake in shares of J P Morgan Chase & Co (NYSE:JPM) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,667 shares of the financial services provider’s stock at the end of the first quarter. Hexavest Inc.’s holdings in J P Morgan Chase & Co were worth $234,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions 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. Hedge funds and other institutional investors own 74.12% of the company’s stock.
J P Morgan Chase & Co (NYSE:JPM) traded down 0.29% during mid-day trading on Friday, hitting $91.28. 9,351,915 shares of the company were exchanged. J P Morgan Chase & Co has a 12-month low of $63.38 and a 12-month high of $94.51. The stock has a market cap of $324.30 billion, a P/E ratio of 14.89 and a beta of 1.19. The company has a 50 day moving average of $90.21 and a 200 day moving average of $87.95.
J P Morgan Chase & Co (NYSE:JPM) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.23. The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates 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 was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.55 EPS. On average, equities research analysts expect that J P Morgan Chase & Co will post $6.82 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend 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 presently 29.59%.
JPM has been the topic of a number of research analyst reports. Vetr lowered shares of J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $99.01 price target on the stock. in a report on Wednesday, April 26th. Guggenheim raised shares of J P Morgan Chase & Co from a “neutral” rating to a “buy” rating and raised their target price for the company from $88.25 to $96.00 in a research note on Tuesday, April 25th. Keefe, Bruyette & Woods raised their target price on shares of J P Morgan Chase & Co to $47.00 and gave the company a “buy” rating in a research note on Monday, April 17th. UBS AG reissued a “buy” rating and issued a $101.00 target price on shares of J P Morgan Chase & Co in a research note on Monday, May 15th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of J P Morgan Chase & Co in a research note on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nineteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $85.43.
In related news, CFO Marianne Lake sold 17,596 shares of the stock in a transaction that occurred 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 filing with the SEC, which can be accessed through this link. Also, insider Ashley Bacon sold 6,514 shares of the stock in a transaction that occurred 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 owns 47,384 shares in the company, valued at $4,132,358.64. The disclosure for this sale can be found here. Insiders sold a total of 25,110 shares of company stock worth $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.
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