Cape Cod Five Cents Savings Bank lowered its position in J P Morgan Chase & Co (NYSE:JPM) by 12.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,406 shares of the financial services provider’s stock after selling 16,307 shares during the period. J P Morgan Chase & Co comprises about 1.7% of Cape Cod Five Cents Savings Bank’s holdings, making the stock its 12th largest position. Cape Cod Five Cents Savings Bank’s holdings in J P Morgan Chase & Co were worth $10,489,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. raised its position in J P Morgan Chase & Co by 4.8% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 143,746 shares of the financial services provider’s stock worth $12,404,000 after buying an additional 6,527 shares during the last quarter. Armor Investment Advisors LLC purchased a new position in J P Morgan Chase & Co during the fourth quarter worth about $1,912,000. Elgethun Capital Management bought a new position in J P Morgan Chase & Co during the fourth quarter worth $4,891,000. Syntal Capital Partners LLC bought a new position in J P Morgan Chase & Co during the fourth quarter worth $400,000. Finally, Cleararc Capital Inc. raised its position in J P Morgan Chase & Co by 4.2% in the fourth quarter. Cleararc Capital Inc. now owns 108,639 shares of the financial services provider’s stock worth $9,374,000 after buying an additional 4,365 shares during the period. 74.12% of the stock is currently owned by hedge funds and other institutional investors.
Shares of J P Morgan Chase & Co (NYSE JPM) traded up 0.43% on Monday, reaching $91.28. The company’s stock had a trading volume of 10,725,116 shares. J P Morgan Chase & Co has a 1-year low of $63.38 and a 1-year high of $94.51. The firm has a market cap of $321.21 billion, a price-to-earnings ratio of 13.47 and a beta of 1.19. The company’s 50 day moving average is $89.27 and its 200-day moving average is $87.81.
J P Morgan Chase & Co (NYSE:JPM) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.23. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. The company had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period last year, the firm posted $1.55 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. Equities research analysts expect that J P Morgan Chase & Co will post $6.81 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, July 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.19%. J P Morgan Chase & Co’s payout ratio is 29.59%.
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A number of equities analysts recently weighed in on the company. UBS AG reiterated a “buy” rating and issued a $101.00 price target on shares of J P Morgan Chase & Co in a research report on Monday, May 15th. Bank of America Corporation reiterated a “buy” rating and issued a $99.00 price target on shares of J P Morgan Chase & Co in a research report on Monday, July 17th. BidaskClub lowered J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Instinet reiterated a “neutral” rating and issued a $84.00 price target (down previously from $87.00) on shares of J P Morgan Chase & Co in a research report on Saturday, June 3rd. Finally, Zacks Investment Research upgraded J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $85.43.
In other news, insider Nicole Giles sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $91.29, for a total transaction of $91,290.00. Following the transaction, the insider now owns 3,783 shares in the company, valued at $345,350.07. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Marianne Lake sold 17,596 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $91.58, for a total value of $1,611,441.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,110 shares of company stock valued at $2,270,818. 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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