State of Alaska Department of Revenue grew its stake in shares of J P Morgan Chase & Co (NYSE:JPM) by 42.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,465 shares of the financial services provider’s stock after purchasing an additional 2,830 shares during the quarter. State of Alaska Department of Revenue’s holdings in J P Morgan Chase & Co were worth $865,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of JPM. Weybosset Research & Management LLC boosted its stake in J P Morgan Chase & Co by 0.9% during the 1st quarter. Weybosset Research & Management LLC now owns 3,406 shares of the financial services provider’s stock valued at $299,000 after acquiring an additional 30 shares during the last quarter. Stokes & Hubbell Capital Management LLC raised its stake in shares of J P Morgan Chase & Co by 6.4% in the 1st quarter. Stokes & Hubbell Capital Management LLC now owns 8,976 shares of the financial services provider’s stock valued at $788,000 after purchasing an additional 539 shares in the last quarter. Inverness Counsel LLC NY raised its stake in shares of J P Morgan Chase & Co by 40.8% in the 1st quarter. Inverness Counsel LLC NY now owns 23,708 shares of the financial services provider’s stock valued at $2,025,000 after purchasing an additional 6,865 shares in the last quarter. First Command Financial Services Inc. raised its stake in shares of J P Morgan Chase & Co by 13.3% in the 1st quarter. First Command Financial Services Inc. now owns 5,078 shares of the financial services provider’s stock valued at $446,000 after purchasing an additional 595 shares in the last quarter. Finally, Parametrica Management Ltd acquired a new stake in shares of J P Morgan Chase & Co in the 1st quarter valued at about $405,000. 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 company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $90.55, for a total transaction of $902,602.40. Following the sale, the general counsel now directly owns 10,527 shares of the company’s stock, valued at $953,219.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicole Giles sold 1,000 shares of the company’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $91.29, for a total transaction of $91,290.00. Following the sale, 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. Over the last 90 days, insiders have sold 28,564 shares of company stock valued at $2,605,334. Company insiders own 0.88% of the company’s stock.

Shares of J P Morgan Chase & Co (NYSE:JPM) traded down 0.29% during midday trading on Wednesday, hitting $97.07. The stock had a trading volume of 5,954,257 shares. The stock has a 50 day moving average price of $92.30 and a 200-day moving average price of $89.28. J P Morgan Chase & Co has a 52 week low of $66.74 and a 52 week high of $97.44. The stock has a market capitalization of $341.54 billion, a price-to-earnings ratio of 14.32 and a beta of 1.18.

J P Morgan Chase & Co (NYSE:JPM) last announced its earnings results on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.23. The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.55 earnings per share. Equities research analysts anticipate that J P Morgan Chase & Co will post $6.80 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, October 5th. 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 2.30%. J P Morgan Chase & Co’s payout ratio is 29.59%.

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JPM has been the topic of a number of research analyst reports. Buckingham Research reaffirmed a “neutral” rating and set a $100.00 target price (up previously from $94.00) on shares of J P Morgan Chase & Co in a report on Monday, July 10th. Bank of America Corporation reiterated an “outperform” rating and issued a $99.00 price target on shares of J P Morgan Chase & Co in a report on Wednesday, June 21st. Keefe, Bruyette & Woods set a $96.00 price target on J P Morgan Chase & Co and gave the company a “hold” rating in a report on Saturday, August 19th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $93.00 price target on shares of J P Morgan Chase & Co in a research report on Thursday, July 6th. Finally, Vetr lowered J P Morgan Chase & Co from a “buy” rating to a “hold” rating and set a $93.14 price target on the stock. in a research report on Tuesday, September 12th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seventeen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $87.10.

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

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