J P Morgan Chase & Co (NYSE:JPM) Shares Bought by New England Asset Management Inc.

New England Asset Management Inc. grew its holdings in J P Morgan Chase & Co (NYSE:JPM) by 6.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,108 shares of the financial services provider’s stock after buying an additional 6,300 shares during the period. J P Morgan Chase & Co accounts for about 0.1% of New England Asset Management Inc.’s portfolio, making the stock its 16th biggest holding. New England Asset Management Inc.’s holdings in J P Morgan Chase & Co were worth $8,705,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Horrell Capital Management Inc. raised its holdings in J P Morgan Chase & Co by 5.0% in the 1st quarter. Horrell Capital Management Inc. now owns 1,647 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 78 shares in the last quarter. Windsor Financial Group LLC acquired a new position in J P Morgan Chase & Co in the 1st quarter valued at $224,000. Colorado Capital Management Inc. increased its stake in shares of J P Morgan Chase & Co by 3.0% in the 1st quarter. Colorado Capital Management Inc. now owns 2,549 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 75 shares during the last quarter. Vista Capital Partners Inc. increased its stake in shares of J P Morgan Chase & Co by 3.7% in the 1st quarter. Vista Capital Partners Inc. now owns 2,550 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 90 shares during the last quarter. Finally, Diversified Portfolios Inc. bought a new position in shares of J P Morgan Chase & Co in the 1st quarter valued at $232,000. 78.02% of the stock is owned by institutional investors and hedge funds.

JPM has been the topic of several recent analyst reports. BMO Capital Markets reaffirmed a “hold” rating and set a $85.00 target price on shares of J P Morgan Chase & Co in a report on Thursday, June 1st. Instinet reissued a “neutral” rating and issued a $84.00 price objective (down from $87.00) on shares of J P Morgan Chase & Co in a research note on Saturday, June 3rd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $92.00 price objective on shares of J P Morgan Chase & Co in a research note on Wednesday, June 7th. BidaskClub raised J P Morgan Chase & Co from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, Vetr downgraded J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $97.41 price target on the stock. in a research note on Monday, June 12th. 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 company currently has an average rating of “Hold” and a consensus target price of $85.84.

J P Morgan Chase & Co (JPM) traded up 0.71% during midday trading on Friday, reaching $91.62. 18,171,794 shares of the company’s stock were exchanged. The stock has a market capitalization of $322.41 billion, a price-to-earnings ratio of 13.53 and a beta of 1.19. J P Morgan Chase & Co has a 12-month low of $65.11 and a 12-month high of $95.22. The stock’s 50-day moving average is $91.54 and its 200-day moving average is $89.03.

J P Morgan Chase & Co (NYSE:JPM) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.23. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the prior year, the company earned $1.55 EPS. The firm’s revenue was up 4.6% on a year-over-year basis. On average, equities analysts forecast that J P Morgan Chase & Co will post $6.81 earnings per share for the current year.

In other news, General Counsel Stacey Friedman sold 9,968 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $90.55, for a total transaction of $902,602.40. Following the transaction, the general counsel now directly owns 10,527 shares in the company, valued at approximately $953,219.85. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Marianne Lake sold 17,596 shares of the stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $91.58, for a total transaction of $1,611,441.68. The disclosure for this sale can be found here. Insiders have sold a total of 28,564 shares of company stock worth $2,605,334 over the last ninety days. 0.88% of the stock is owned by corporate insiders.

TRADEMARK VIOLATION NOTICE: “J P Morgan Chase & Co (NYSE:JPM) Shares Bought by New England Asset Management Inc.” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this article on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://ledgergazette.com/2017/09/17/new-england-asset-management-inc-acquires-6300-shares-of-j-p-morgan-chase-co-jpm.html.

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.

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

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