Union Bankshares Corp grew its holdings in shares of J P Morgan Chase & Co (NYSE:JPM) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,459 shares of the financial services provider’s stock after purchasing an additional 1,090 shares during the period. J P Morgan Chase & Co makes up about 1.8% of Union Bankshares Corp’s portfolio, making the stock its 12th biggest holding. Union Bankshares Corp’s holdings in J P Morgan Chase & Co were worth $5,160,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Grand Jean Capital Management Inc. lifted its holdings in shares of J P Morgan Chase & Co by 33.3% during the 1st quarter. Grand Jean Capital Management Inc. now owns 26,788 shares of the financial services provider’s stock valued at $2,353,000 after purchasing an additional 6,688 shares during the last quarter. Thomaspartners Inc. lifted its holdings in shares of J P Morgan Chase & Co by 2.8% during the 1st quarter. Thomaspartners Inc. now owns 2,572,428 shares of the financial services provider’s stock valued at $225,962,000 after purchasing an additional 70,882 shares during the last quarter. State of Tennessee Treasury Department lifted its holdings in shares of J P Morgan Chase & Co by 11.4% during the 1st quarter. State of Tennessee Treasury Department now owns 3,211,518 shares of the financial services provider’s stock valued at $282,100,000 after purchasing an additional 329,297 shares during the last quarter. Baystate Wealth Management LLC lifted its holdings in shares of J P Morgan Chase & Co by 51.7% during the 1st quarter. Baystate Wealth Management LLC now owns 7,187 shares of the financial services provider’s stock valued at $614,000 after purchasing an additional 2,448 shares during the last quarter. Finally, Alley Co LLC lifted its holdings in shares of J P Morgan Chase & Co by 6.8% during the 1st quarter. Alley Co LLC now owns 101,451 shares of the financial services provider’s stock valued at $8,911,000 after purchasing an additional 6,446 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

J P Morgan Chase & Co (JPM) traded up 0.14% during trading on Friday, hitting $95.51. 11,438,412 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $91.64 and its 200 day moving average price is $89.00. The stock has a market cap of $336.05 billion, a P/E ratio of 14.09 and a beta of 1.19. J P Morgan Chase & Co has a 12-month low of $65.11 and a 12-month high of $95.52.

J P Morgan Chase & Co (NYSE:JPM) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.23. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter last year, the firm posted $1.55 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts anticipate that J P Morgan Chase & Co will post $6.80 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 6th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.35%. This is a positive change from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, October 5th. J P Morgan Chase & Co’s dividend payout ratio (DPR) is presently 29.59%.

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A number of brokerages recently issued reports on JPM. BidaskClub upgraded J P Morgan Chase & Co from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Deutsche Bank AG lowered J P Morgan Chase & Co from a “buy” rating to a “hold” rating and raised their target price for the stock from $90.00 to $96.00 in a research note on Tuesday. Robert W. Baird restated a “hold” rating and issued a $88.00 target price on shares of J P Morgan Chase & Co in a research note on Thursday, September 21st. Zacks Investment Research lowered J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Finally, Vetr lowered J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $97.41 target price for the company. in a research note on Monday, June 12th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seventeen have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $87.10.

In related news, General Counsel Stacey Friedman sold 9,968 shares of the firm’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 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicole Giles sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 18th. The shares were 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 of the company’s stock, valued at $345,350.07. The disclosure for this sale can be found here. Over the last ninety 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.

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.

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

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