J P Morgan Chase & Co (JPM) Position Reduced by Orca Investment Management LLC

Orca Investment Management LLC trimmed its holdings in shares of J P Morgan Chase & Co (NYSE:JPM) by 6.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,642 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Orca Investment Management LLC’s holdings in J P Morgan Chase & Co were worth $1,338,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of the stock. State Street Corp grew its position in J P Morgan Chase & Co by 0.8% during the first quarter. State Street Corp now owns 170,534,760 shares of the financial services provider’s stock worth $14,979,775,000 after buying an additional 1,357,194 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in J P Morgan Chase & Co by 3.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 11,817,131 shares of the financial services provider’s stock worth $1,038,017,000 after buying an additional 430,584 shares in the last quarter. Pioneer Investment Management Inc. grew its position in J P Morgan Chase & Co by 22.2% during the first quarter. Pioneer Investment Management Inc. now owns 7,402,919 shares of the financial services provider’s stock worth $650,272,000 after buying an additional 1,344,295 shares in the last quarter. Swedbank grew its position in J P Morgan Chase & Co by 19.0% during the first quarter. Swedbank now owns 5,261,038 shares of the financial services provider’s stock worth $462,130,000 after buying an additional 840,518 shares in the last quarter. Finally, State of Wisconsin Investment Board grew its position in J P Morgan Chase & Co by 11.1% during the first quarter. State of Wisconsin Investment Board now owns 3,359,176 shares of the financial services provider’s stock worth $295,070,000 after buying an additional 336,848 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

JPM has been the subject of several recent analyst reports. Vetr cut J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $97.41 target price for the company. in a research report on Monday, June 12th. BidaskClub upgraded J P Morgan Chase & Co from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Deutsche Bank AG restated a “buy” rating on shares of J P Morgan Chase & Co in a research report on Monday, July 3rd. Zacks Investment Research upgraded J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research report on Tuesday, July 18th. Finally, Bank of America Corporation restated a “buy” rating and set a $99.00 target price on shares of J P Morgan Chase & Co in a research report on Monday, July 17th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seventeen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $88.87.

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In other news, General Counsel Stacey Friedman sold 9,968 shares of J P Morgan Chase & Co stock in a transaction that occurred 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 transaction, the general counsel now owns 10,527 shares of the company’s stock, valued at $953,219.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Nicole Giles sold 1,000 shares of J P Morgan Chase & Co stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 3,783 shares in the company, valued at approximately $345,350.07. The disclosure for this sale can be found here. In the last three months, insiders sold 28,564 shares of company stock worth $2,605,334. Insiders own 0.88% of the company’s stock.

Shares of J P Morgan Chase & Co (JPM) traded up 0.410% on Tuesday, hitting $96.805. The stock had a trading volume of 4,543,741 shares. The company has a market cap of $340.61 billion, a P/E ratio of 14.280 and a beta of 1.18. J P Morgan Chase & Co has a 52-week low of $66.74 and a 52-week high of $97.64. The company has a 50-day moving average of $92.89 and a 200-day moving average of $89.53.

J P Morgan Chase & Co (NYSE:JPM) last released its quarterly earnings results 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 company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter last year, the firm posted $1.55 earnings per share. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities analysts anticipate that J P Morgan Chase & Co will post $6.80 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th will be given a $0.56 dividend. This is a positive change from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, October 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.32%. J P Morgan Chase & Co’s dividend payout ratio (DPR) is currently 33.14%.

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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