Traynor Capital Management Inc. Boosts Holdings in J P Morgan Chase & Co (JPM)
Traynor Capital Management Inc. raised its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 11.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,437 shares of the financial services provider’s stock after acquiring an additional 1,686 shares during the period. J P Morgan Chase & Co makes up 0.7% of Traynor Capital Management Inc.’s portfolio, making the stock its 29th biggest position. Traynor Capital Management Inc.’s holdings in J P Morgan Chase & Co were worth $1,504,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Pacific Center for Financial Services grew its position in J P Morgan Chase & Co by 14.5% during the first quarter. Pacific Center for Financial Services now owns 1,401 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 177 shares during the period. Ullmann Financial Group Inc. purchased a new stake in shares of J P Morgan Chase & Co in the first quarter worth about $148,000. Northwest Investment Counselors LLC purchased a new stake in shares of J P Morgan Chase & Co in the second quarter worth about $165,000. Capital Advisors Ltd. LLC boosted its position in shares of J P Morgan Chase & Co by 53.0% in the second quarter. Capital Advisors Ltd. LLC now owns 1,935 shares of the financial services provider’s stock worth $177,000 after buying an additional 670 shares during the period. Finally, Rice Hall James & Associates LLC purchased a new stake in shares of J P Morgan Chase & Co in the second quarter worth about $188,000. 78.97% of the stock is owned by hedge funds and other institutional investors.
J P Morgan Chase & Co (NYSE:JPM) opened at $97.27 on Wednesday. J P Morgan Chase & Co has a fifty-two week low of $76.88 and a fifty-two week high of $102.42. The stock has a market capitalization of $339,547.38, a P/E ratio of 14.10, a P/E/G ratio of 2.12 and a beta of 1.22. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.03 and a quick ratio of 1.03.
J P Morgan Chase & Co (NYSE:JPM) last issued its quarterly earnings data on Thursday, October 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.09. J P Morgan Chase & Co had a return on equity of 11.68% and a net margin of 24.08%. The business had revenue of $25.33 billion during the quarter, compared to analyst estimates of $24.91 billion. During the same period in the prior year, the company posted $1.58 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. analysts anticipate that J P Morgan Chase & Co will post 6.91 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 6th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.30%. This is a positive change from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, October 5th. J P Morgan Chase & Co’s dividend payout ratio is 32.28%.
In related news, General Counsel Stacey Friedman sold 2,099 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $101.96, for a total value of $214,014.04. Following the completion of the transaction, the general counsel now directly owns 15,279 shares of the company’s stock, valued at approximately $1,557,846.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.88% of the company’s stock.
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Several brokerages have recently weighed in on JPM. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of J P Morgan Chase & Co in a research report on Wednesday, October 11th. Deutsche Bank AG downgraded J P Morgan Chase & Co from a “buy” rating to a “hold” rating and upped their target price for the stock from $90.00 to $96.00 in a research report on Tuesday, September 26th. Robert W. Baird reaffirmed a “hold” rating and issued a $88.00 target price on shares of J P Morgan Chase & Co in a research report on Thursday, September 21st. Zacks Investment Research downgraded J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. Finally, Vetr raised J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $93.14 target price for the company in a research report on Wednesday, September 6th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the stock. J P Morgan Chase & Co has an average rating of “Hold” and a consensus price target of $92.18.
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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