Hoertkorn Richard Charles increased its holdings in shares of J P Morgan Chase & Co (NYSE:JPM) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 99,275 shares of the financial services provider’s stock after purchasing an additional 325 shares during the period. J P Morgan Chase & Co accounts for about 6.0% of Hoertkorn Richard Charles’ holdings, making the stock its 2nd biggest holding. Hoertkorn Richard Charles’ holdings in J P Morgan Chase & Co were worth $9,074,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in JPM. Karp Capital Management Corp purchased a new stake in J P Morgan Chase & Co during the 1st quarter worth $140,124,000. State Street Corp boosted its position in 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 worth $14,979,775,000 after purchasing an additional 1,357,194 shares during the period. Pioneer Investment Management Inc. boosted its position in 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 worth $650,272,000 after purchasing an additional 1,344,295 shares during the period. Hexavest Inc. boosted its position in J P Morgan Chase & Co by 33,815.1% during the 2nd quarter. Hexavest Inc. now owns 904,516 shares of the financial services provider’s stock worth $82,673,000 after purchasing an additional 901,849 shares during the period. Finally, Swedbank boosted its position in 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 worth $462,130,000 after purchasing an additional 840,518 shares during the period. 77.90% of the stock is owned by hedge funds and other institutional investors.

JPM has been the subject of a number of research reports. Berenberg Bank set a $65.00 price target on shares of J P Morgan Chase & Co and gave the stock a “sell” rating in a research report on Thursday, August 3rd. Wells Fargo & Company began coverage on shares of J P Morgan Chase & Co in a research report on Wednesday, August 9th. They issued an “outperform” rating and a $110.00 price objective for the company. Deutsche Bank AG reissued a “buy” rating on shares of J P Morgan Chase & Co in a research report on Monday, July 3rd. Bank of America Corporation reissued 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. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $93.00 price objective on shares of J P Morgan Chase & Co in a research report on Thursday, July 6th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $87.10.

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In other J P Morgan Chase & Co news, 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 directly owns 10,527 shares of the company’s stock, valued at $953,219.85. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $1,611,441.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,564 shares of company stock worth $2,605,334. Company insiders own 0.88% of the company’s stock.

Shares of J P Morgan Chase & Co (JPM) traded up 1.623% during midday trading on Thursday, hitting $97.355. 6,955,097 shares of the company’s stock traded hands. The company has a 50 day moving average price of $92.40 and a 200 day moving average price of $89.33. J P Morgan Chase & Co has a 1-year low of $66.74 and a 1-year high of $97.44. The firm has a market capitalization of $342.54 billion, a price-to-earnings ratio of 14.361 and a beta of 1.18. J P Morgan Chase & Co also was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 93,484 call options on the company. This represents an increase of 231% compared to the average volume of 28,201 call options.

J P Morgan Chase & Co (NYSE:JPM) last released 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. The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.55 earnings per share. Equities analysts anticipate that J P Morgan Chase & Co will post $6.80 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be given a $0.56 dividend. The ex-dividend date is Thursday, October 5th. This is a positive change from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. This represents a $2.24 dividend on an annualized basis and a yield of 2.32%. J P Morgan Chase & Co’s payout ratio is 29.59%.

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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