Beese Fulmer Investment Management Inc. lowered its stake in shares of J P Morgan Chase & Co (NYSE:JPM) by 2.5% during the first quarter, Holdings Channel reports. The firm owned 57,102 shares of the financial services provider’s stock after selling 1,446 shares during the period. J P Morgan Chase & Co comprises approximately 1.2% of Beese Fulmer Investment Management Inc.’s portfolio, making the stock its 28th largest position. Beese Fulmer Investment Management Inc.’s holdings in J P Morgan Chase & Co were worth $5,015,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JPM. FMR LLC increased its position in J P Morgan Chase & Co by 19.4% in the fourth quarter. FMR LLC now owns 96,587,143 shares of the financial services provider’s stock valued at $8,334,505,000 after buying an additional 15,715,835 shares during the period. Shepherd Financial Partners LLC bought a new position in J P Morgan Chase & Co during the fourth quarter valued at approximately $3,128,000. Michael & Susan Dell Foundation bought a new position in J P Morgan Chase & Co during the fourth quarter valued at approximately $42,343,000. CHURCHILL MANAGEMENT Corp bought a new position in J P Morgan Chase & Co during the first quarter valued at approximately $1,367,000. Finally, Guggenheim Capital LLC increased its position in J P Morgan Chase & Co by 5.9% in the fourth quarter. Guggenheim Capital LLC now owns 1,234,560 shares of the financial services provider’s stock valued at $106,530,000 after buying an additional 68,720 shares during the period. 74.26% of the stock is owned by institutional investors and hedge funds.

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

J P Morgan Chase & Co (JPM) opened at 86.18 on Friday. J P Morgan Chase & Co has a 1-year low of $57.05 and a 1-year high of $93.98. The stock’s 50 day moving average is $85.69 and its 200-day moving average is $86.73. The company has a market capitalization of $306.14 billion, a P/E ratio of 13.27 and a beta of 1.22.

J P Morgan Chase & Co (NYSE:JPM) last announced its earnings results on Thursday, April 13th. The financial services provider reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.13. J P Morgan Chase & Co had a net margin of 23.82% and a return on equity of 11.25%. The firm had revenue of $25.59 billion for the quarter, compared to the consensus estimate of $24.40 billion. During the same period in the prior year, the firm earned $1.35 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts expect that J P Morgan Chase & Co will post $6.66 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.32%. The ex-dividend date is Monday, July 3rd. J P Morgan Chase & Co’s payout ratio is currently 30.82%.

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JPM has been the topic of several recent research reports. Vetr upgraded shares of J P Morgan Chase & Co from a “buy” rating to a “strong-buy” rating and set a $97.82 target price on the stock in a research report on Wednesday, April 12th. Credit Suisse Group upped their target price on shares of J P Morgan Chase & Co to $99.00 and gave the company a “buy” rating in a research report on Wednesday, March 15th. BMO Capital Markets restated a “hold” rating on shares of J P Morgan Chase & Co in a research report on Wednesday, March 1st. Rafferty Capital Markets restated a “buy” rating and set a $97.00 target price (up from $96.00) on shares of J P Morgan Chase & Co in a research report on Tuesday, March 21st. Finally, Barclays PLC restated an “overweight” rating and set a $100.00 target price on shares of J P Morgan Chase & Co in a research report on Monday, March 20th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty have assigned a buy rating to the company’s stock. J P Morgan Chase & Co has an average rating of “Buy” and a consensus target price of $82.01.

In related news, General Counsel Stacey Friedman sold 10,792 shares of the company’s stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $85.07, for a total transaction of $918,075.44. Following the sale, the general counsel now directly owns 63,344 shares of the company’s stock, valued at approximately $5,388,674.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Matthew E. Zames sold 3,405 shares of the company’s stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $85.06, for a total transaction of $289,629.30. Following the sale, the chief operating officer now directly owns 329,019 shares in the company, valued at $27,986,356.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,711 shares of company stock worth $1,775,791. 0.85% of the stock is owned by insiders.

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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