Dock Street Asset Management Inc. Raises Stake in J P Morgan Chase & Co (JPM)

Dock Street Asset Management Inc. lifted its position in J P Morgan Chase & Co (NYSE:JPM) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,895 shares of the financial services provider’s stock after acquiring an additional 76 shares during the quarter. Dock Street Asset Management Inc.’s holdings in J P Morgan Chase & Co were worth $265,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its position in shares of J P Morgan Chase & Co by 0.8% in the 1st quarter. State Street Corp now owns 170,534,760 shares of the financial services provider’s stock worth $14,979,775,000 after acquiring an additional 1,357,194 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of J P Morgan Chase & Co by 3.8% in the 1st 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 purchasing an additional 430,584 shares during the last quarter. Pioneer Investment Management Inc. lifted its holdings in shares of J P Morgan Chase & Co by 22.2% in the 1st quarter. Pioneer Investment Management Inc. now owns 7,402,919 shares of the financial services provider’s stock worth $650,272,000 after purchasing an additional 1,344,295 shares during the last quarter. Swedbank lifted its holdings in shares of J P Morgan Chase & Co by 19.0% in the 1st quarter. Swedbank now owns 5,261,038 shares of the financial services provider’s stock worth $462,130,000 after purchasing an additional 840,518 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its holdings in shares of J P Morgan Chase & Co by 13.0% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,668,366 shares of the financial services provider’s stock worth $426,689,000 after purchasing an additional 536,181 shares during the last quarter. Institutional investors own 77.86% of the company’s stock.

J P Morgan Chase & Co (NYSE JPM) opened at 101.77 on Monday. The company has a 50 day moving average price of $95.85 and a 200-day moving average price of $90.63. J P Morgan Chase & Co has a one year low of $67.64 and a one year high of $102.42. The firm has a market capitalization of $359.73 billion, a PE ratio of 14.66 and a beta of 1.18.

J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.09. The company had revenue of $25.33 billion for the quarter, compared to the consensus estimate of $24.91 billion. J P Morgan Chase & Co had a return on equity of 11.68% and a net margin of 24.08%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.58 EPS. On average, equities analysts predict that J P Morgan Chase & Co will post $6.90 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 6th will be given a $0.56 dividend. The ex-dividend date is Thursday, October 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.20%. This is a boost from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. J P Morgan Chase & Co’s dividend payout ratio is currently 32.28%.

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In related news, General Counsel Stacey Friedman sold 9,968 shares of the company’s stock in a transaction 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 completion of the sale, the general counsel now owns 10,527 shares in the company, valued at approximately $953,219.85. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.88% of the stock is owned by corporate insiders.

Several brokerages recently issued reports on JPM. Wells Fargo & Company raised their price target on J P Morgan Chase & Co from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday. Barclays PLC raised their price target on J P Morgan Chase & Co from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, October 13th. Nomura raised their price target on J P Morgan Chase & Co from $87.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Bank of America Corporation set a $102.00 price target on J P Morgan Chase & Co and gave the stock a “buy” rating in a report on Friday, October 13th. Finally, Morgan Stanley raised their price target on J P Morgan Chase & Co from $99.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, October 13th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $91.83.

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.

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

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