Stock Traders Purchase Large Volume of J P Morgan Chase & Co Put Options (JPM)

J P Morgan Chase & Co (NYSE:JPM) saw unusually large options trading on Tuesday. Stock traders bought 33,230 put options on the stock. This represents an increase of 133% compared to the average daily volume of 14,277 put options.

Several equities research analysts recently commented on JPM shares. Wells Fargo & Company assumed coverage on J P Morgan Chase & Co in a report on Wednesday, August 9th. They issued an “outperform” rating and a $110.00 price objective for the company. Vetr upgraded J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $93.14 price target for the company 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 for the company 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 cut their price target on J P Morgan Chase & Co from $102.00 to $99.00 and set an “outperform” rating for the company in a research note on Thursday, June 29th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $85.84.

J P Morgan Chase & Co (JPM) opened at 91.62 on Friday. J P Morgan Chase & Co has a 52-week low of $65.11 and a 52-week high of $95.22. The stock’s 50 day moving average price is $91.54 and its 200 day moving average price is $89.03. The company has a market cap of $322.36 billion, a P/E 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, topping the Zacks’ consensus estimate of $1.59 by $0.23. The firm had revenue of $25.50 billion for 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 firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.55 earnings per share. Analysts expect that J P Morgan Chase & Co will post $6.81 earnings per share for the current year.

In related news, CFO Marianne Lake sold 17,596 shares of J P Morgan Chase & Co stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $91.58, for a total value 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, General Counsel Stacey Friedman sold 9,968 shares of J P Morgan Chase & Co stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $90.55, for a total value of $902,602.40. Following the completion of the sale, the general counsel now owns 10,527 shares of the company’s stock, valued at $953,219.85. The disclosure for this sale can be found here. Insiders sold a total of 28,564 shares of company stock valued at $2,605,334 over the last quarter. 0.88% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of JPM. Janus Henderson Group PLC grew its stake in shares of J P Morgan Chase & Co by 517.3% in the second quarter. Janus Henderson Group PLC now owns 5,553,819 shares of the financial services provider’s stock valued at $507,632,000 after buying an additional 4,654,113 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of J P Morgan Chase & Co by 29.2% in the second quarter. Alliancebernstein L.P. now owns 17,456,699 shares of the financial services provider’s stock valued at $1,595,542,000 after buying an additional 3,945,948 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of J P Morgan Chase & Co by 1.5% in the second quarter. Vanguard Group Inc. now owns 249,887,622 shares of the financial services provider’s stock valued at $22,839,729,000 after buying an additional 3,717,683 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in shares of J P Morgan Chase & Co by 40.8% in the second quarter. Parametric Portfolio Associates LLC now owns 9,769,017 shares of the financial services provider’s stock valued at $892,886,000 after buying an additional 2,828,726 shares in the last quarter. Finally, Harbour Capital Advisors LLC grew its stake in shares of J P Morgan Chase & Co by 8,767.4% in the second quarter. Harbour Capital Advisors LLC now owns 2,794,464 shares of the financial services provider’s stock valued at $30,574,000 after buying an additional 2,762,950 shares in the last quarter. 78.02% of the stock is owned by institutional investors and hedge funds.

WARNING: This piece was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another site, it was stolen and republished in violation of international copyright & trademark laws. The legal version of this piece can be viewed at https://ledgergazette.com/2017/09/17/investors-purchase-high-volume-of-put-options-on-j-p-morgan-chase-co-jpm.html.

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.

Receive News & Ratings for J P Morgan Chase & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J P Morgan Chase & Co and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply