J P Morgan Chase & Co (JPM) is Continental Advisors LLC’s 9th Largest Position
Continental Advisors LLC reduced its stake in shares of J P Morgan Chase & Co (NYSE:JPM) by 17.1% during the first quarter, Holdings Channel reports. The institutional investor owned 90,100 shares of the financial services provider’s stock after selling 18,545 shares during the period. J P Morgan Chase & Co comprises 1.8% of Continental Advisors LLC’s portfolio, making the stock its 9th largest position. Continental Advisors LLC’s holdings in J P Morgan Chase & Co were worth $7,914,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Pacific Center for Financial Services bought a new position in J P Morgan Chase & Co during the fourth quarter valued at approximately $106,000. Thomas J. Herzfeld Advisors Inc. bought a new position in J P Morgan Chase & Co during the fourth quarter valued at approximately $125,000. Glacier Peak Capital LLC bought a new position in J P Morgan Chase & Co during the fourth quarter valued at approximately $129,000. Tortoise Investment Management LLC boosted its position in J P Morgan Chase & Co by 434.9% in the fourth quarter. Tortoise Investment Management LLC now owns 1,578 shares of the financial services provider’s stock valued at $136,000 after buying an additional 1,283 shares during the last quarter. Finally, Horrell Capital Management Inc. boosted its position in J P Morgan Chase & Co by 5.0% in the first quarter. Horrell Capital Management Inc. now owns 1,647 shares of the financial services provider’s stock valued at $145,000 after buying an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.
J P Morgan Chase & Co (JPM) traded down 0.14% during mid-day trading on Friday, reaching $92.06. 2,932,986 shares of the company’s stock were exchanged. The company has a market cap of $323.91 billion, a PE ratio of 13.58 and a beta of 1.19. J P Morgan Chase & Co has a 52-week low of $64.86 and a 52-week high of $95.22. The stock has a 50-day moving average price of $91.75 and a 200 day moving average price of $88.44.
J P Morgan Chase & Co (NYSE:JPM) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.23. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period last year, the firm posted $1.55 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities analysts predict that J P Morgan Chase & Co will post $6.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Thursday, July 6th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Monday, July 3rd. J P Morgan Chase & Co’s payout ratio is 29.59%.
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Several research firms have commented on JPM. UBS AG reissued a “buy” rating and set a $101.00 target price on shares of J P Morgan Chase & Co in a research note on Monday, May 15th. Berenberg Bank set a $65.00 target price on shares of J P Morgan Chase & Co and gave the company a “sell” rating in a research note on Thursday, August 3rd. Instinet reissued a “neutral” rating and set a $84.00 target price (down previously from $87.00) on shares of J P Morgan Chase & Co in a research note on Saturday, June 3rd. Zacks Investment Research cut shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, BidaskClub cut shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $85.53.
In other news, CFO Marianne Lake sold 17,596 shares of J P Morgan Chase & Co stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $91.58, for a total transaction of $1,611,441.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicole Giles sold 1,000 shares of J P Morgan Chase & Co stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $91.29, for a total value of $91,290.00. Following the sale, the insider now directly owns 3,783 shares in the company, valued at $345,350.07. The disclosure for this sale can be found here. Company insiders own 0.85% of the company’s stock.
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.
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