J P Morgan Chase & Co (NYSE:JPM) Shares Sold by Profit Investment Management LLC
Profit Investment Management LLC reduced its stake in shares of J P Morgan Chase & Co (NYSE:JPM) by 7.2% during the second quarter, Holdings Channel reports. The institutional investor owned 12,898 shares of the financial services provider’s stock after selling 997 shares during the period. Profit Investment Management LLC’s holdings in J P Morgan Chase & Co were worth $1,179,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Shepherd Financial Partners LLC bought a new stake in J P Morgan Chase & Co during the fourth quarter valued at $3,128,000. CHURCHILL MANAGEMENT Corp bought a new stake in J P Morgan Chase & Co during the first quarter valued at $1,367,000. Michael & Susan Dell Foundation bought a new stake in J P Morgan Chase & Co during the fourth quarter valued at $42,343,000. Guggenheim Capital LLC raised its stake 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 in the last quarter. Finally, Israel Discount Bank of New York GFN bought a new stake in J P Morgan Chase & Co during the fourth quarter valued at $1,857,000. Institutional investors own 74.06% of the company’s stock.
Shares of J P Morgan Chase & Co (JPM) traded down 0.84% during midday trading on Friday, reaching $91.42. The company had a trading volume of 10,679,534 shares. J P Morgan Chase & Co has a 12-month low of $65.11 and a 12-month high of $95.22. The firm has a market capitalization of $321.66 billion, a price-to-earnings ratio of 13.49 and a beta of 1.19. The company has a 50 day moving average of $91.87 and a 200 day moving average of $88.50.
J P Morgan Chase & Co (NYSE:JPM) last announced its earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $1.55 earnings per share. Analysts anticipate that J P Morgan Chase & Co will post $6.81 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Thursday, July 6th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, July 3rd. This represents a $2.00 annualized dividend and a yield of 2.19%. J P Morgan Chase & Co’s payout ratio is 29.59%.
JPM has been the subject of several research reports. Berenberg Bank set a $65.00 price target on shares of J P Morgan Chase & Co and gave the company a “sell” rating in a research report on Thursday, August 3rd. 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 target on shares of J P Morgan Chase & Co in a research report on Monday, July 17th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $47.00 price target on shares of J P Morgan Chase & Co in a research report on Friday, April 14th. Finally, Nomura reissued a “neutral” rating and issued a $83.00 price target on shares of J P Morgan Chase & Co in a research report on Monday, April 17th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $85.53.
In other J P Morgan Chase & Co news, CFO Marianne Lake sold 17,596 shares of the firm’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 legal filing with the SEC, which is available through this hyperlink. Also, insider Nicole Giles sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $91.29, for a total value of $91,290.00. Following the completion of the transaction, 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.
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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