PHH Investments Ltd. Reduces Position in J P Morgan Chase & Co (JPM)

PHH Investments Ltd. lessened its holdings in J P Morgan Chase & Co (NYSE:JPM) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,546 shares of the financial services provider’s stock after selling 711 shares during the quarter. J P Morgan Chase & Co makes up approximately 0.7% of PHH Investments Ltd.’s investment portfolio, making the stock its 14th largest position. PHH Investments Ltd.’s holdings in J P Morgan Chase & Co were worth $2,061,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacific Center for Financial Services raised its holdings in J P Morgan Chase & Co by 14.5% during the 1st 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 last quarter. Ullmann Financial Group Inc. bought a new position in J P Morgan Chase & Co during the 1st quarter worth approximately $148,000. Northwest Investment Counselors LLC bought a new position in J P Morgan Chase & Co during the 2nd quarter worth approximately $165,000. Capital Advisors Ltd. LLC raised its holdings in J P Morgan Chase & Co by 53.0% during the 2nd 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 last quarter. Finally, Tortoise Investment Management LLC raised its holdings in J P Morgan Chase & Co by 59.5% during the 2nd quarter. Tortoise Investment Management LLC now owns 1,959 shares of the financial services provider’s stock worth $179,000 after purchasing an additional 731 shares during the last quarter. Institutional investors and hedge funds own 78.59% of the company’s stock.

JPM has been the subject of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of J P Morgan Chase & Co from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Vetr raised shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $93.14 price objective for the company in a research report on Wednesday, September 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $102.00 price objective on shares of J P Morgan Chase & Co in a research report on Friday, September 15th. Zacks Investment Research downgraded shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $86.00 price objective on shares of J P Morgan Chase & Co in a research report on Friday, August 25th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company. J P Morgan Chase & Co presently has an average rating of “Hold” and a consensus price target of $92.18.

In other J P Morgan Chase & Co news, General Counsel Stacey Friedman sold 2,099 shares of J P Morgan Chase & Co stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $101.96, for a total transaction of $214,014.04. Following the completion of the transaction, the general counsel now owns 15,279 shares of the company’s stock, valued at approximately $1,557,846.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is owned by insiders.

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J P Morgan Chase & Co (JPM) opened at $98.64 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $343,259.97, a PE ratio of 14.26, a price-to-earnings-growth ratio of 2.15 and a beta of 1.22. J P Morgan Chase & Co has a twelve month low of $77.89 and a twelve month high of $102.42.

J P Morgan Chase & Co (NYSE:JPM) last posted its 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 business had revenue of $25.33 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.58 EPS. equities research analysts expect that J P Morgan Chase & Co will post 6.91 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, October 5th. This is a positive change from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. J P Morgan Chase & Co’s payout ratio is presently 32.28%.

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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