J P Morgan Chase & Co (JPM) Shares Sold by Allen Investment Management LLC

Allen Investment Management LLC lowered its position in J P Morgan Chase & Co (NYSE:JPM) by 69.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,519 shares of the financial services provider’s stock after selling 8,089 shares during the period. Allen Investment Management LLC’s holdings in J P Morgan Chase & Co were worth $309,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacific Center for Financial Services purchased a new position in J P Morgan Chase & Co during the fourth quarter worth $106,000. Thomas J. Herzfeld Advisors Inc. purchased a new position in J P Morgan Chase & Co during the fourth quarter worth $125,000. Glacier Peak Capital LLC purchased a new position in J P Morgan Chase & Co during the fourth quarter worth $129,000. Tortoise Investment Management LLC raised its position in J P Morgan Chase & Co by 434.9% in the fourth quarter. Tortoise Investment Management LLC now owns 1,578 shares of the financial services provider’s stock worth $136,000 after buying an additional 1,283 shares in the last quarter. Finally, Horrell Capital Management Inc. raised its position in J P Morgan Chase & Co by 5.0% in the first quarter. Horrell Capital Management Inc. now owns 1,647 shares of the financial services provider’s stock worth $145,000 after buying an additional 78 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Shares of J P Morgan Chase & Co (NYSE JPM) traded down 0.21% during trading on Friday, hitting $92.00. 2,615,006 shares of the stock were exchanged. The firm has a 50 day moving average price of $91.75 and a 200 day moving average price of $88.44. J P Morgan Chase & Co has a 52 week low of $64.86 and a 52 week high of $95.22. The firm has a market capitalization of $323.70 billion, a P/E ratio of 13.57 and a beta of 1.19.

J P Morgan Chase & Co (NYSE:JPM) last released its earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share (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 company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the previous year, the company earned $1.55 EPS. J P Morgan Chase & Co’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts forecast that J P Morgan Chase & Co will post $6.81 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Thursday, July 6th were given a dividend of $0.50 per share. The ex-dividend date was Monday, July 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.17%. J P Morgan Chase & Co’s payout ratio is presently 29.59%.

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JPM has been the subject of a number of research analyst reports. Vetr lowered shares of J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $99.01 target price for the company. in a research report on Wednesday, April 26th. Guggenheim raised shares of J P Morgan Chase & Co from a “neutral” rating to a “buy” rating and upped their price objective for the company from $88.25 to $96.00 in a research report on Tuesday, April 25th. Keefe, Bruyette & Woods upped their price objective on shares of J P Morgan Chase & Co to $47.00 and gave the company a “buy” rating in a research report on Monday, April 17th. UBS AG reaffirmed a “buy” rating and set a $101.00 price objective on shares of J P Morgan Chase & Co in a research report on Monday, May 15th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of J P Morgan Chase & Co in a research report on Monday, July 3rd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $85.53.

In related news, CFO Marianne Lake sold 17,596 shares of the business’s stock in a transaction on Monday, July 17th. The shares were 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 SEC, which is available at this hyperlink. Also, insider Nicole Giles sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $91.29, for a total transaction of $91,290.00. Following the transaction, the insider now owns 3,783 shares in the company, valued at approximately $345,350.07. The disclosure for this sale can be found here. 0.85% of the stock is owned by insiders.

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)

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