Norway Savings Bank cut its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,209 shares of the financial services provider’s stock after selling 24 shares during the period. J P Morgan Chase & Co makes up approximately 2.1% of Norway Savings Bank’s holdings, making the stock its 11th largest position. Norway Savings Bank’s holdings in J P Morgan Chase & Co were worth $2,122,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Shepherd Financial Partners LLC bought a new stake in J P Morgan Chase & Co during the fourth quarter valued at approximately $3,128,000. CHURCHILL MANAGEMENT Corp bought a new stake in J P Morgan Chase & Co during the first quarter valued at approximately $1,367,000. Michael & Susan Dell Foundation bought a new stake in J P Morgan Chase & Co during the fourth quarter valued at approximately $42,343,000. Guggenheim Capital LLC raised its stake in J P Morgan Chase & Co by 5.9% in the fourth quarter. Guggenheim Capital LLC now owns 1,234,560 shares of the financial services provider’s stock valued at $106,530,000 after buying an additional 68,720 shares during the period. Finally, Israel Discount Bank of New York GFN bought a new stake in J P Morgan Chase & Co during the fourth quarter valued at approximately $1,857,000. 74.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of J P Morgan Chase & Co (NYSE JPM) opened at 91.20 on Thursday. The firm’s 50-day moving average price is $88.54 and its 200 day moving average price is $87.71. 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 $320.93 billion, a PE ratio of 13.45 and a beta of 1.19.
J P Morgan Chase & Co (NYSE:JPM) last released 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 business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.55 EPS. On average, equities research analysts forecast that J P Morgan Chase & Co will post $6.80 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be issued a dividend of $0.50 per share. The ex-dividend date 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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JPM has been the topic of several analyst reports. Vetr lowered J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $98.53 target price on the stock. in a report on Tuesday, March 28th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $47.00 price target on shares of J P Morgan Chase & Co in a research report on Friday, April 14th. Nomura reiterated a “neutral” rating and set a $83.00 price target on shares of J P Morgan Chase & Co in a research report on Monday, April 17th. Guggenheim upgraded J P Morgan Chase & Co from a “neutral” rating to a “buy” rating and increased their price target for the stock from $88.25 to $96.00 in a research report on Tuesday, April 25th. Finally, Vining Sparks upgraded J P Morgan Chase & Co to an “outperform” rating and set a $95.00 price target on the stock in a research report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $85.43.
In other news, CFO Marianne Lake sold 17,596 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $91.58, for a total transaction of $1,611,441.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicole Giles sold 1,000 shares of the company’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $91.29, for a total value of $91,290.00. Following the sale, the insider now owns 3,783 shares of the company’s stock, valued at $345,350.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,110 shares of company stock valued at $2,270,818. Insiders own 0.85% of the company’s stock.
About J P Morgan Chase & Co
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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