J P Morgan Chase & Co (NYSE:JPM) Stake Cut by Stelliam Investment Management LP
Stelliam Investment Management LP decreased its stake in J P Morgan Chase & Co (NYSE:JPM) by 15.9% during the first quarter, Holdings Channel reports. The fund owned 450,000 shares of the financial services provider’s stock after selling 85,000 shares during the period. Stelliam Investment Management LP’s holdings in J P Morgan Chase & Co were worth $39,528,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in J P Morgan Chase & Co during the fourth quarter valued at approximately $2,897,377,000. Dodge & Cox purchased a new position in J P Morgan Chase & Co during the fourth quarter valued at approximately $2,297,616,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in J P Morgan Chase & Co during the fourth quarter valued at approximately $393,160,000. Karp Capital Management Corp purchased a new position in J P Morgan Chase & Co during the first quarter valued at approximately $140,124,000. Finally, AQR Capital Management LLC raised its position in J P Morgan Chase & Co by 34.2% in the fourth quarter. AQR Capital Management LLC now owns 5,539,766 shares of the financial services provider’s stock valued at $478,026,000 after buying an additional 1,411,214 shares during the last quarter. 74.06% of the stock is owned by institutional investors.
Shares of J P Morgan Chase & Co (NYSE JPM) traded down 0.99% during midday trading on Thursday, reaching $92.60. The company had a trading volume of 2,825,159 shares. J P Morgan Chase & Co has a 52-week low of $64.86 and a 52-week high of $95.22. The stock has a market capitalization of $325.81 billion, a PE ratio of 13.66 and a beta of 1.19. The company’s 50 day moving average price is $91.60 and its 200 day moving average price is $88.42.
J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 period in the previous year, the business earned $1.55 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities research analysts expect that J P Morgan Chase & Co will post $6.81 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Thursday, July 6th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, July 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.14%. J P Morgan Chase & Co’s dividend payout ratio (DPR) is presently 29.59%.
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Several research firms have recently weighed in on JPM. Vetr upgraded J P Morgan Chase & Co from a “buy” rating to a “strong-buy” rating and set a $97.82 target price for the company in a research report on Wednesday, April 12th. Vining Sparks upgraded J P Morgan Chase & Co to an “outperform” rating and set a $95.00 target price for the company in a research report on Thursday, April 27th. Zacks Investment Research upgraded J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research report on Tuesday, July 18th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of J P Morgan Chase & Co in a research report on Friday, July 21st. Finally, Bank of America Corporation reiterated an “outperform” rating and set a $99.00 target price on shares of J P Morgan Chase & Co in a research report on Wednesday, June 21st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $85.53.
In related news, CFO Marianne Lake sold 17,596 shares of J P Morgan Chase & Co stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $91.58, for a total value of $1,611,441.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nicole Giles sold 1,000 shares of J P Morgan Chase & Co stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $91.29, for a total value of $91,290.00. Following the completion of the sale, the insider now owns 3,783 shares in the company, valued at $345,350.07. The disclosure for this sale can be found here. 0.85% of the stock is owned by insiders.
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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