Cullinan Associates Inc. increased its stake in J P Morgan Chase & Co (NYSE:JPM) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 122,654 shares of the financial services provider’s stock after acquiring an additional 2,931 shares during the period. J P Morgan Chase & Co makes up 0.9% of Cullinan Associates Inc.’s investment portfolio, making the stock its 27th largest position. Cullinan Associates Inc.’s holdings in J P Morgan Chase & Co were worth $11,211,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in JPM. Grand Jean Capital Management Inc. increased its position in J P Morgan Chase & Co by 33.3% during the first quarter. Grand Jean Capital Management Inc. now owns 26,788 shares of the financial services provider’s stock worth $2,353,000 after purchasing an additional 6,688 shares during the last quarter. Thomaspartners Inc. raised its stake in J P Morgan Chase & Co by 2.8% during the first quarter. Thomaspartners Inc. now owns 2,572,428 shares of the financial services provider’s stock worth $225,962,000 after purchasing an additional 70,882 shares during the period. State of Tennessee Treasury Department boosted its holdings in shares of J P Morgan Chase & Co by 11.4% in the 1st quarter. State of Tennessee Treasury Department now owns 3,211,518 shares of the financial services provider’s stock valued at $282,100,000 after purchasing an additional 329,297 shares during the last quarter. Baystate Wealth Management LLC boosted its holdings in shares of J P Morgan Chase & Co by 51.7% in the 1st quarter. Baystate Wealth Management LLC now owns 7,187 shares of the financial services provider’s stock valued at $614,000 after purchasing an additional 2,448 shares during the last quarter. Finally, Alley Co LLC boosted its holdings in shares of J P Morgan Chase & Co by 6.8% in the 1st quarter. Alley Co LLC now owns 101,451 shares of the financial services provider’s stock valued at $8,911,000 after purchasing an additional 6,446 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

In other J P Morgan Chase & Co news, General Counsel Stacey Friedman sold 9,968 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $90.55, for a total value of $902,602.40. Following the sale, the general counsel now owns 10,527 shares of the company’s stock, valued at approximately $953,219.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nicole Giles sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $91.29, for a total transaction of $91,290.00. Following the completion of the sale, the insider now directly owns 3,783 shares in the company, valued at approximately $345,350.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,564 shares of company stock valued at $2,605,334. 0.88% of the stock is owned by company insiders.

Shares of J P Morgan Chase & Co (JPM) traded up 1.136% during midday trading on Monday, hitting $96.595. 6,158,316 shares of the company were exchanged. J P Morgan Chase & Co has a one year low of $66.08 and a one year high of $96.62. The stock’s 50-day moving average is $91.65 and its 200-day moving average is $89.00. The stock has a market cap of $339.87 billion, a PE ratio of 14.249 and a beta of 1.18.

J P Morgan Chase & Co (NYSE:JPM) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.23. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. J P Morgan Chase & Co’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.55 earnings per share. Equities research analysts anticipate 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. Investors of record on Friday, October 6th will be given a $0.56 dividend. This is a boost from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, October 5th. J P Morgan Chase & Co’s dividend payout ratio (DPR) is 29.59%.

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and set a $92.00 price objective on shares of J P Morgan Chase & Co in a research note on Wednesday, June 7th. BidaskClub upgraded J P Morgan Chase & Co from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Vetr lowered J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $97.41 target price on the stock. in a research report on Monday, June 12th. Bank of America Corporation reaffirmed an “outperform” rating and issued a $99.00 target price on shares of J P Morgan Chase & Co in a research report on Wednesday, June 21st. Finally, Credit Suisse Group reduced their target price on J P Morgan Chase & Co from $102.00 to $99.00 and set an “outperform” rating on the stock in a report on Thursday, June 29th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seventeen have assigned a buy rating to the company. J P Morgan Chase & Co presently has a consensus rating of “Hold” and a consensus price target of $87.10.

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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.

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

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