Callahan Advisors LLC Sells 918 Shares of J P Morgan Chase & Co (JPM)

Callahan Advisors LLC reduced its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 138,002 shares of the financial services provider’s stock after selling 918 shares during the quarter. J P Morgan Chase & Co accounts for approximately 2.7% of Callahan Advisors LLC’s holdings, making the stock its 3rd biggest position. Callahan Advisors LLC’s holdings in J P Morgan Chase & Co were worth $12,613,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp grew its stake in shares of J P Morgan Chase & Co by 0.8% during the 1st quarter. State Street Corp now owns 170,534,760 shares of the financial services provider’s stock valued at $14,979,775,000 after purchasing an additional 1,357,194 shares during the period. Schwab Charles Investment Management Inc. grew its stake in shares of J P Morgan Chase & Co by 3.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 11,817,131 shares of the financial services provider’s stock valued at $1,038,017,000 after purchasing an additional 430,584 shares during the period. Pioneer Investment Management Inc. grew its stake in shares of J P Morgan Chase & Co by 22.2% during the 1st quarter. Pioneer Investment Management Inc. now owns 7,402,919 shares of the financial services provider’s stock valued at $650,272,000 after purchasing an additional 1,344,295 shares during the period. Swedbank grew its stake in shares of J P Morgan Chase & Co by 19.0% during the 1st quarter. Swedbank now owns 5,261,038 shares of the financial services provider’s stock valued at $462,130,000 after purchasing an additional 840,518 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its stake in shares of J P Morgan Chase & Co by 13.0% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,668,366 shares of the financial services provider’s stock valued at $426,689,000 after purchasing an additional 536,181 shares during the period. Institutional investors and hedge funds own 77.86% of the company’s stock.

A number of research analysts recently issued reports on the company. Buckingham Research reiterated a “neutral” rating and set a $100.00 price objective (up from $94.00) on shares of J P Morgan Chase & Co in a research note on Monday, July 10th. Barclays PLC boosted their price objective on J P Morgan Chase & Co from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, October 13th. 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. Credit Suisse Group reiterated a “buy” rating and set a $110.00 price objective (up from $103.00) on shares of J P Morgan Chase & Co in a research note on Monday, October 9th. They noted that the move was a valuation call. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of J P Morgan Chase & Co in a research note on Thursday, October 12th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. J P Morgan Chase & Co currently has a consensus rating of “Hold” and an average target price of $91.83.

In related news, General Counsel Stacey Friedman sold 2,099 shares of J P Morgan Chase & Co stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $101.96, for a total transaction of $214,014.04. Following the transaction, the general counsel now owns 15,279 shares in the company, valued at $1,557,846.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.88% of the company’s stock.

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J P Morgan Chase & Co (NYSE:JPM) last announced its quarterly earnings data on Thursday, October 12th. The financial services provider reported $1.76 EPS for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $25.33 billion for the quarter, compared to the consensus estimate of $24.91 billion. During the same quarter last year, the business posted $1.58 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 6th were given a dividend of $0.56 per share. This is an increase from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. The ex-dividend date was Thursday, October 5th. This represents a $2.24 dividend on an annualized basis and a yield of 2.23%. J P Morgan Chase & Co’s dividend payout ratio (DPR) is presently 32.28%.

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.

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

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