Schwab Charles Investment Management Inc. grew its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,241,448 shares of the financial services provider’s stock after buying an additional 424,317 shares during the quarter. J P Morgan Chase & Co accounts for approximately 1.1% of Schwab Charles Investment Management Inc.’s investment portfolio, making the stock its 7th biggest holding. Schwab Charles Investment Management Inc. owned 0.35% of J P Morgan Chase & Co worth $1,118,869,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Sigma Investment Counselors Inc. raised its holdings in shares of J P Morgan Chase & Co by 0.4% in the 2nd quarter. Sigma Investment Counselors Inc. now owns 67,478 shares of the financial services provider’s stock worth $6,167,000 after purchasing an additional 266 shares during the period. Forward Management LLC raised its holdings in shares of J P Morgan Chase & Co by 1.9% in the 2nd quarter. Forward Management LLC now owns 12,636 shares of the financial services provider’s stock worth $1,155,000 after purchasing an additional 240 shares during the period. Wetherby Asset Management Inc. raised its holdings in shares of J P Morgan Chase & Co by 3.0% in the 2nd quarter. Wetherby Asset Management Inc. now owns 58,711 shares of the financial services provider’s stock worth $5,366,000 after purchasing an additional 1,688 shares during the period. Palisade Asset Management LLC raised its holdings in shares of J P Morgan Chase & Co by 1.2% in the 2nd quarter. Palisade Asset Management LLC now owns 8,168 shares of the financial services provider’s stock worth $747,000 after purchasing an additional 100 shares during the period. Finally, Pointe Capital Management LLC raised its holdings in shares of J P Morgan Chase & Co by 39.3% in the 2nd quarter. Pointe Capital Management LLC now owns 7,083 shares of the financial services provider’s stock worth $647,000 after purchasing an additional 2,000 shares during the period. 77.94% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently commented on JPM shares. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $95.00 price target on shares of J P Morgan Chase & Co in a report on Friday, August 18th. Zacks Investment Research raised shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a report on Tuesday, July 18th. Bank of America Corporation reissued a “buy” rating and set a $99.00 target price on shares of J P Morgan Chase & Co in a report on Monday, July 17th. Vetr raised shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $93.14 target price on the stock in a report on Wednesday, September 6th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $102.00 target price on shares of J P Morgan Chase & Co in a report on Friday, September 15th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the company. J P Morgan Chase & Co has an average rating of “Hold” and an average price target of $91.83.

In related news, General Counsel Stacey Friedman sold 9,968 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $953,219.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.88% of the company’s stock.

Shares of J P Morgan Chase & Co (NYSE:JPM) opened at $97.51 on Friday. J P Morgan Chase & Co has a fifty-two week low of $75.77 and a fifty-two week high of $102.42. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.37. The company has a market cap of $338,662.59, a P/E ratio of 14.06, a PEG ratio of 2.12 and a beta of 1.22.

J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.76 EPS for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.09. J P Morgan Chase & Co had a net margin of 24.08% and a return on equity of 11.68%. The firm had revenue of $25.33 billion for the quarter, compared to analysts’ expectations of $24.91 billion. During the same quarter in the prior year, the company posted $1.58 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. sell-side analysts forecast that J P Morgan Chase & Co will post 6.91 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 6th were issued a $0.56 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.24 annualized dividend and a yield of 2.30%. This is a boost from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. J P Morgan Chase & Co’s dividend payout ratio (DPR) is currently 32.28%.

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

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