Earnest Partners LLC lessened its holdings in shares of J P Morgan Chase & Co (NYSE:JPM) by 19.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 223,430 shares of the financial services provider’s stock after selling 55,293 shares during the period. Earnest Partners LLC’s holdings in J P Morgan Chase & Co were worth $19,626,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of JPM. Karp Capital Management Corp acquired a new stake in shares of J P Morgan Chase & Co during the 1st quarter worth about $140,124,000. State Street Corp raised its position in shares of J P Morgan Chase & Co by 0.8% during the 1st quarter. State Street Corp now owns 170,534,760 shares of the financial services provider’s stock worth $14,979,775,000 after acquiring an additional 1,357,194 shares in the last quarter. Pioneer Investment Management Inc. raised its position in shares of J P Morgan Chase & Co by 22.2% during the 1st quarter. Pioneer Investment Management Inc. now owns 7,402,919 shares of the financial services provider’s stock worth $650,272,000 after acquiring an additional 1,344,295 shares in the last quarter. Swedbank raised its position in shares of J P Morgan Chase & Co by 19.0% during the 1st quarter. Swedbank now owns 5,261,038 shares of the financial services provider’s stock worth $462,130,000 after acquiring an additional 840,518 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of J P Morgan Chase & Co during the 1st quarter worth about $63,330,000. 78.02% of the stock is currently owned by institutional investors and hedge funds.
J P Morgan Chase & Co (JPM) traded up 0.71% during trading on Friday, hitting $91.62. The stock had a trading volume of 18,171,794 shares. J P Morgan Chase & Co has a 1-year low of $65.11 and a 1-year high of $95.22. The firm’s 50-day moving average price is $91.54 and its 200-day moving average price is $89.03. The stock has a market cap of $322.36 billion, a PE ratio of 13.52 and a beta of 1.19.
J P Morgan Chase & Co (NYSE:JPM) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $24.38 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts predict that J P Morgan Chase & Co will post $6.81 earnings per share for the current fiscal year.
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JPM has been the topic of several research analyst reports. Wells Fargo & Company assumed coverage on J P Morgan Chase & Co in a research report on Wednesday, August 9th. They set an “outperform” rating and a $110.00 target price on the stock. Vetr upgraded J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $93.14 price target on the stock in a research note on Wednesday, September 6th. Zacks Investment Research upgraded J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research note on Tuesday, July 18th. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of J P Morgan Chase & Co in a research note on Friday, July 21st. Finally, Credit Suisse Group dropped their price target on J P Morgan Chase & Co from $102.00 to $99.00 and set an “outperform” rating on the stock in a research note on Thursday, June 29th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $85.84.
In other news, insider Nicole Giles sold 1,000 shares of the stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 9,968 shares of the stock in a transaction on Monday, August 21st. The shares were sold at an average price of $90.55, for a total value of $902,602.40. Following the sale, the general counsel now owns 10,527 shares of the company’s stock, valued at approximately $953,219.85. The disclosure for this sale can be found here. Insiders have sold a total of 28,564 shares of company stock valued at $2,605,334 in the last quarter. Insiders own 0.88% 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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