Korea Investment CORP grew its stake in J P Morgan Chase & Co (NYSE:JPM) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,351,117 shares of the financial services provider’s stock after buying an additional 79,085 shares during the period. J P Morgan Chase & Co accounts for about 1.4% of Korea Investment CORP’s holdings, making the stock its 7th biggest holding. Korea Investment CORP owned 0.10% of J P Morgan Chase & Co worth $306,292,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of JPM. Pacific Center for Financial Services grew its stake in J P Morgan Chase & Co by 14.5% during the first quarter. Pacific Center for Financial Services now owns 1,401 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 177 shares during the period. Ullmann Financial Group Inc. acquired a new stake in J P Morgan Chase & Co during the first quarter worth approximately $148,000. Northwest Investment Counselors LLC acquired a new stake in J P Morgan Chase & Co during the second quarter worth approximately $165,000. Capital Advisors Ltd. LLC grew its stake in J P Morgan Chase & Co by 53.0% during the second quarter. Capital Advisors Ltd. LLC now owns 1,935 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 670 shares during the period. Finally, Meritage Portfolio Management acquired a new stake in J P Morgan Chase & Co during the second quarter worth approximately $202,000. 77.86% of the stock is owned by institutional investors.
In other news, General Counsel Stacey Friedman sold 2,099 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $101.96, for a total value of $214,014.04. Following the completion of the sale, the general counsel now directly owns 15,279 shares in the company, valued at approximately $1,557,846.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is owned by corporate insiders.
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Several research firms recently commented on JPM. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of J P Morgan Chase & Co in a research note on Wednesday, October 11th. Deutsche Bank AG cut J P Morgan Chase & Co from a “buy” rating to a “hold” rating and raised their target price for the stock from $90.00 to $96.00 in a research note on Tuesday, September 26th. Robert W. Baird reaffirmed a “hold” rating and set a $88.00 target price on shares of J P Morgan Chase & Co in a research note on Thursday, September 21st. Zacks Investment Research cut J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Finally, BidaskClub raised J P Morgan Chase & Co from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. 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. The company currently has an average rating of “Hold” and an average price target of $91.83.
Shares of J P Morgan Chase & Co (JPM) opened at 100.61 on Wednesday. The firm has a 50-day moving average price of $96.51 and a 200-day moving average price of $90.90. The stock has a market capitalization of $355.63 billion, a P/E ratio of 14.50 and a beta of 1.18. J P Morgan Chase & Co has a 52-week low of $67.64 and a 52-week high of $102.42.
J P Morgan Chase & Co (NYSE:JPM) last released its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.09. The firm had revenue of $25.33 billion for the quarter, compared to analysts’ expectations 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 company’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.58 EPS. On average, analysts predict that J P Morgan Chase & Co will post $6.91 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.23%. 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 is presently 32.28%.
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.
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