Traders Sell J P Morgan Chase & Co (JPM) on Strength (JPM)
Traders sold shares of J P Morgan Chase & Co (NYSE:JPM) on strength during trading on Tuesday. $133.52 million flowed into the stock on the tick-up and $228.08 million flowed out of the stock on the tick-down, for a money net flow of $94.56 million out of the stock. Of all equities tracked, J P Morgan Chase & Co had the 0th highest net out-flow for the day. J P Morgan Chase & Co traded up $0.51 for the day and closed at $97.35
A number of equities analysts have commented on JPM shares. Buckingham Research reaffirmed a “neutral” rating and issued a $100.00 price target (up from $94.00) on shares of J P Morgan Chase & Co in a research note on Monday, July 10th. Bank of America Corporation reissued an “outperform” rating and set a $99.00 target price on shares of J P Morgan Chase & Co in a research note on Wednesday, June 21st. Keefe, Bruyette & Woods set a $96.00 target price on J P Morgan Chase & Co and gave the company a “hold” rating in a research note on Saturday, August 19th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $93.00 target price on shares of J P Morgan Chase & Co in a research note on Thursday, July 6th. Finally, Vetr cut J P Morgan Chase & Co from a “buy” rating to a “hold” rating and set a $93.14 target price on the stock. in a research note on Tuesday, September 12th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $87.10.
The firm has a market cap of $339.04 billion, a PE ratio of 14.21 and a beta of 1.18. The stock’s 50-day moving average price is $92.40 and its 200 day moving average price is $89.33.
J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.23. The firm had revenue of $25.50 billion during 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 quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.55 EPS. On average, analysts predict that J P Morgan Chase & Co will post $6.80 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th will be given a $0.56 dividend. This is a boost from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, October 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.32%. J P Morgan Chase & Co’s dividend payout ratio (DPR) is presently 29.59%.
In other news, CFO Marianne Lake sold 17,596 shares of the firm’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Stacey Friedman sold 9,968 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $90.55, for a total value of $902,602.40. Following the completion of the sale, the general counsel now directly owns 10,527 shares of the company’s stock, valued at approximately $953,219.85. The disclosure for this sale can be found here. Insiders sold a total of 28,564 shares of company stock valued at $2,605,334 in the last three months. Insiders own 0.88% of the company’s stock.
Several institutional investors have recently bought and sold shares of JPM. Private Vista LLC acquired a new stake in shares of J P Morgan Chase & Co in the 2nd quarter worth $102,000. Pacific Center for Financial Services boosted its position in shares of J P Morgan Chase & Co by 14.5% in the 1st quarter. Pacific Center for Financial Services now owns 1,401 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 177 shares in the last quarter. Atlantic Trust LLC acquired a new stake in shares of J P Morgan Chase & Co in the 2nd quarter worth $136,000. Ullmann Financial Group Inc. acquired a new stake in shares of J P Morgan Chase & Co in the 1st quarter worth $148,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of J P Morgan Chase & Co in the 2nd quarter worth $165,000. 77.90% of the stock is owned by hedge funds and other institutional investors.
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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