Cumberland Partners Ltd Has $37.64 Million Holdings in J P Morgan Chase & Co (JPM)

Cumberland Partners Ltd trimmed its position in J P Morgan Chase & Co (NYSE:JPM) by 1.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 411,760 shares of the financial services provider’s stock after selling 5,945 shares during the quarter. J P Morgan Chase & Co makes up approximately 5.3% of Cumberland Partners Ltd’s portfolio, making the stock its 2nd largest position. Cumberland Partners Ltd’s holdings in J P Morgan Chase & Co were worth $37,635,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. ProShare Advisors LLC boosted its holdings in shares of J P Morgan Chase & Co by 2.1% during the first quarter. ProShare Advisors LLC now owns 997,631 shares of the financial services provider’s stock worth $87,632,000 after purchasing an additional 20,655 shares during the period. Brouwer & Janachowski LLC boosted its holdings in shares of J P Morgan Chase & Co by 36.3% during the first quarter. Brouwer & Janachowski LLC now owns 4,136 shares of the financial services provider’s stock worth $363,000 after purchasing an additional 1,102 shares during the period. Excalibur Management Corp boosted its holdings in shares of J P Morgan Chase & Co by 5.9% during the first quarter. Excalibur Management Corp now owns 48,182 shares of the financial services provider’s stock worth $4,232,000 after purchasing an additional 2,666 shares during the period. Sit Investment Associates Inc. boosted its holdings in shares of J P Morgan Chase & Co by 9.9% during the first quarter. Sit Investment Associates Inc. now owns 681,095 shares of the financial services provider’s stock worth $59,827,000 after purchasing an additional 61,420 shares during the period. Finally, Glen Harbor Capital Management LLC boosted its holdings in shares of J P Morgan Chase & Co by 144.7% during the first quarter. Glen Harbor Capital Management LLC now owns 254,096 shares of the financial services provider’s stock worth $22,320,000 after purchasing an additional 150,256 shares during the period. Institutional investors own 78.97% of the company’s stock.

Several analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of J P Morgan Chase & Co from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Barclays PLC raised their price target on shares of J P Morgan Chase & Co from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, October 13th. Nomura raised their price target on shares of J P Morgan Chase & Co from $87.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Bank of America Corporation set a $102.00 price target on shares of J P Morgan Chase & Co and gave the stock a “buy” rating in a report on Friday, October 13th. Finally, Morgan Stanley raised their price target on shares of J P Morgan Chase & Co from $99.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, October 13th. Three equities research 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’s stock. The company has a consensus rating of “Hold” and an average price target of $91.83.

In other J P Morgan Chase & Co news, General Counsel Stacey Friedman sold 2,099 shares of J P Morgan Chase & Co stock in a transaction on 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 owns 15,279 shares in the company, valued at $1,557,846.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is owned by insiders.

Shares of J P Morgan Chase & Co (NYSE:JPM) opened at $97.86 on Tuesday. J P Morgan Chase & Co has a 52 week low of $76.88 and a 52 week high of $102.42. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $338,332.97, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 2.12 and a beta of 1.22.

J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.76 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $25.33 billion for the quarter, compared to the consensus estimate of $24.91 billion. During the same quarter in the previous year, the company earned $1.58 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. equities analysts forecast that J P Morgan Chase & Co will post 6.91 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.24 dividend on an annualized basis and a yield of 2.29%. This is an increase from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. J P Morgan Chase & Co’s payout ratio is currently 32.28%.

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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.

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

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