J P Morgan Chase & Co (JPM) is Smith Salley & Associates’ 4th Largest Position
Smith Salley & Associates boosted its holdings in J P Morgan Chase & Co (NYSE:JPM) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 130,385 shares of the financial services provider’s stock after acquiring an additional 1,618 shares during the quarter. J P Morgan Chase & Co comprises approximately 2.4% of Smith Salley & Associates’ portfolio, making the stock its 4th biggest holding. Smith Salley & Associates’ holdings in J P Morgan Chase & Co were worth $11,917,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in JPM. Pacific Center for Financial Services raised its position in J P Morgan Chase & Co by 14.5% in the first quarter. Pacific Center for Financial Services now owns 1,401 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 177 shares in the last quarter. Ullmann Financial Group Inc. purchased a new position in J P Morgan Chase & Co in the first quarter worth $148,000. Northwest Investment Counselors LLC purchased a new position in J P Morgan Chase & Co in the second quarter worth $165,000. Pecaut & CO. purchased a new position in J P Morgan Chase & Co in the second quarter worth $201,000. Finally, Meritage Portfolio Management purchased a new position in J P Morgan Chase & Co in the second quarter worth $202,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.
J P Morgan Chase & Co (NYSE JPM) traded down 0.31% during trading on Friday, hitting $96.79. The stock had a trading volume of 5,302,580 shares. The company has a market cap of $340.55 billion, a P/E ratio of 14.28 and a beta of 1.18. The company has a 50 day moving average of $92.55 and a 200-day moving average of $89.39. J P Morgan Chase & Co has a 12-month low of $66.74 and a 12-month high of $97.64. J P Morgan Chase & Co also was the recipient of some unusual options trading on Wednesday. Stock investors bought 93,484 call options on the company. This represents an increase of approximately 231% compared to the average volume of 28,201 call options.
J P Morgan Chase & Co (NYSE:JPM) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $24.38 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities analysts predict that J P Morgan Chase & Co will post $6.80 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $2.24 dividend on an annualized basis and a yield of 2.31%. This is an increase from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. J P Morgan Chase & Co’s payout ratio is 29.59%.
In other J P Morgan Chase & Co news, CFO Marianne Lake sold 17,596 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $91.58, for a total value of $1,611,441.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 9,968 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $90.55, for a total value of $902,602.40. Following the completion of the transaction, the general counsel now owns 10,527 shares in the company, valued at approximately $953,219.85. The disclosure for this sale can be found here. Insiders sold 28,564 shares of company stock worth $2,605,334 in the last 90 days. Corporate insiders own 0.88% of the company’s stock.
Several research analysts have issued reports on JPM shares. Zacks Investment Research upgraded J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research report on Tuesday, July 18th. Bank of America Corporation reiterated a “buy” rating and issued a $99.00 price objective on shares of J P Morgan Chase & Co in a research report on Monday, July 17th. BidaskClub upgraded J P Morgan Chase & Co from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Deutsche Bank AG reiterated a “buy” rating on shares of J P Morgan Chase & Co in a research report on Monday, July 3rd. Finally, Vetr cut J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $97.41 price objective for the company. in a research report on Monday, June 12th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seventeen have assigned a buy rating to the stock. J P Morgan Chase & Co presently has an average rating of “Hold” and an average price target of $88.10.
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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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