Peak Asset Management LLC raised its position in J P Morgan Chase & Co (NYSE:JPM) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,602 shares of the financial services provider’s stock after buying an additional 1,619 shares during the quarter. J P Morgan Chase & Co comprises about 2.0% of Peak Asset Management LLC’s portfolio, making the stock its 22nd largest position. Peak Asset Management LLC’s holdings in J P Morgan Chase & Co were worth $5,356,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. David R. Rahn & Associates Inc. bought a new stake in shares of J P Morgan Chase & Co during the 2nd quarter valued at approximately $1,458,000. Ironwood Investment Management LLC grew its holdings in shares of J P Morgan Chase & Co by 61.9% during the 2nd quarter. Ironwood Investment Management LLC now owns 6,668 shares of the financial services provider’s stock valued at $609,000 after purchasing an additional 2,550 shares during the last quarter. Gamble Jones Investment Counsel grew its holdings in shares of J P Morgan Chase & Co by 0.6% during the 2nd quarter. Gamble Jones Investment Counsel now owns 49,959 shares of the financial services provider’s stock valued at $4,566,000 after purchasing an additional 276 shares during the last quarter. Grove Bank & Trust grew its holdings in shares of J P Morgan Chase & Co by 16.9% during the 2nd quarter. Grove Bank & Trust now owns 9,787 shares of the financial services provider’s stock valued at $895,000 after purchasing an additional 1,417 shares during the last quarter. Finally, Lee Danner & Bass Inc. grew its holdings in shares of J P Morgan Chase & Co by 0.4% during the 2nd quarter. Lee Danner & Bass Inc. now owns 17,494 shares of the financial services provider’s stock valued at $1,599,000 after purchasing an additional 69 shares during the last quarter. 77.86% of the stock is currently owned by hedge funds and other institutional investors.

In other J P Morgan Chase & Co news, General Counsel Stacey Friedman sold 2,099 shares of the firm’s stock in a transaction 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 completion of the transaction, the general counsel now owns 15,279 shares of the company’s stock, valued at $1,557,846.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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, beating the 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 revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.58 earnings per share.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were given a dividend of $0.56 per share. The ex-dividend date was Thursday, October 5th. This represents a $2.24 annualized dividend and a yield of 2.20%. This is a positive change from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. J P Morgan Chase & Co’s dividend payout ratio (DPR) is currently 32.28%.

Several brokerages recently issued reports on JPM. Royal Bank Of Canada reaffirmed a “buy” rating and set a $95.00 price target on shares of J P Morgan Chase & Co in a report on Friday, August 18th. BidaskClub lowered shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Deutsche Bank AG lowered shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating and boosted their target price for the stock from $90.00 to $96.00 in a report on Tuesday, September 26th. Wells Fargo & Company boosted their target price on shares of J P Morgan Chase & Co from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Finally, Berenberg Bank set a $65.00 target price on shares of J P Morgan Chase & Co and gave the stock a “sell” rating in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $91.83.

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.

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

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