J P Morgan Chase & Co (JPM) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its stake in J P Morgan Chase & Co (NYSE:JPM) by 1.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,096,565 shares of the financial services provider’s stock after selling 110,661 shares during the period. J P Morgan Chase & Co comprises approximately 1.3% of Rhumbline Advisers’ investment portfolio, making the stock its 8th largest holding. Rhumbline Advisers owned 0.17% of J P Morgan Chase & Co worth $557,226,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Pacific Center for Financial Services raised its stake in shares of J P Morgan Chase & Co by 14.5% during the 1st quarter. Pacific Center for Financial Services now owns 1,401 shares of the financial services provider’s stock worth $123,000 after buying an additional 177 shares during the period. Ullmann Financial Group Inc. acquired a new position in shares of J P Morgan Chase & Co during the 1st quarter worth approximately $148,000. Northwest Investment Counselors LLC acquired a new position in shares of J P Morgan Chase & Co during the 2nd quarter worth approximately $165,000. Capital Advisors Ltd. LLC raised its stake in shares of J P Morgan Chase & Co by 53.0% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,935 shares of the financial services provider’s stock worth $177,000 after buying an additional 670 shares during the period. Finally, Rice Hall James & Associates LLC acquired a new position in shares of J P Morgan Chase & Co during the 2nd quarter worth approximately $188,000. Institutional investors and hedge funds own 78.97% of the company’s stock.

In other J P Morgan Chase & Co news, General Counsel Stacey Friedman sold 2,099 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $101.96, for a total value of $214,014.04. Following the sale, the general counsel now owns 15,279 shares of the company’s stock, valued at approximately $1,557,846.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by company insiders.

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J P Morgan Chase & Co (NYSE:JPM) opened at $97.27 on Wednesday. J P Morgan Chase & Co has a twelve month low of $76.88 and a twelve month high of $102.42. The company has a market capitalization of $339,547.38, a PE ratio of 14.10, a P/E/G ratio of 2.12 and a beta of 1.22. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.37.

J P Morgan Chase & Co (NYSE:JPM) last announced its earnings results on Thursday, October 12th. The financial services provider reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.09. J P Morgan Chase & Co had a return on equity of 11.68% and a net margin of 24.08%. The company had revenue of $25.33 billion during the quarter, compared to analysts’ expectations of $24.91 billion. During the same period last year, the business posted $1.58 EPS. J P Morgan Chase & Co’s revenue for the quarter was up 2.6% on a year-over-year basis. equities analysts anticipate that J P Morgan Chase & Co will post 6.91 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 6th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.30%. This is a boost from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, October 5th. J P Morgan Chase & Co’s dividend payout ratio (DPR) is 32.28%.

Several brokerages have recently weighed in on JPM. Royal Bank Of Canada reaffirmed a “buy” rating and set a $105.00 target price on shares of J P Morgan Chase & Co in a research note on Wednesday. Deutsche Bank AG downgraded J P Morgan Chase & Co from a “buy” rating to a “hold” rating and upped their target price for the stock from $90.00 to $96.00 in a research note on Tuesday, September 26th. Keefe, Bruyette & Woods set a $96.00 price objective on J P Morgan Chase & Co and gave the company a “hold” rating in a research note on Saturday, August 19th. Berenberg Bank set a $65.00 price objective on J P Morgan Chase & Co and gave the company a “sell” rating in a research note on Thursday, August 3rd. Finally, Zacks Investment Research downgraded J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $92.18.

J P Morgan Chase & Co 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.

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

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