Wealth Enhancement Advisory Services LLC Lowers Position in J P Morgan Chase & Co (NYSE:JPM)
Wealth Enhancement Advisory Services LLC cut its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 6.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 54,311 shares of the financial services provider’s stock after selling 3,579 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in J P Morgan Chase & Co were worth $4,722,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of JPM. Norges Bank acquired a new position in shares of J P Morgan Chase & Co during the fourth quarter worth about $2,897,377,000. Dodge & Cox acquired a new position in shares of J P Morgan Chase & Co during the fourth quarter worth about $2,297,616,000. FMR LLC raised its position in shares of J P Morgan Chase & Co by 19.4% in the fourth quarter. FMR LLC now owns 96,587,143 shares of the financial services provider’s stock worth $8,334,505,000 after buying an additional 15,715,835 shares during the last quarter. State Street Corp raised its position in shares of J P Morgan Chase & Co by 7.5% in the fourth quarter. State Street Corp now owns 169,177,566 shares of the financial services provider’s stock worth $14,598,334,000 after buying an additional 11,844,085 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth $654,210,000. 74.24% of the stock is currently owned by institutional investors.
Shares of J P Morgan Chase & Co (NYSE JPM) traded down 0.91% on Friday, reaching $92.25. 22,235,168 shares of the company’s stock traded hands. The firm has a market cap of $327.75 billion, a P/E ratio of 15.05 and a beta of 1.19. J P Morgan Chase & Co has a 12-month low of $63.38 and a 12-month high of $94.51. The stock has a 50-day moving average of $85.98 and a 200 day moving average of $87.09.
J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.23. J P Morgan Chase & Co had a return on equity of 11.25% and a net margin of 23.82%. The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the prior year, the company earned $1.55 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts expect that J P Morgan Chase & Co will post $6.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, July 3rd. J P Morgan Chase & Co’s dividend payout ratio is presently 29.59%.
A number of analysts have recently weighed in on the stock. BidaskClub raised shares of J P Morgan Chase & Co from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Keefe, Bruyette & Woods increased their price objective on shares of J P Morgan Chase & Co to $47.00 and gave the company a “buy” rating in a research note on Monday, April 17th. Vetr downgraded shares of J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $97.41 price objective for the company. in a research note on Monday, June 12th. Vining Sparks raised shares of J P Morgan Chase & Co to an “outperform” rating and set a $95.00 price objective for the company in a research note on Thursday, April 27th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $85.00 price target on shares of J P Morgan Chase & Co in a research note on Thursday, June 1st. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $84.71.
In related news, insider Ashley Bacon sold 6,514 shares of the stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $87.21, for a total transaction of $568,085.94. Following the transaction, the insider now owns 47,384 shares of the company’s stock, valued at approximately $4,132,358.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James S. Crown bought 11,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 19th. The shares were purchased at an average cost of $85.48 per share, for a total transaction of $983,020.00. Following the purchase, the director now owns 299,862 shares in the company, valued at approximately $25,632,203.76. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 20,711 shares of company stock valued at $1,775,791. Company insiders own 0.85% of the company’s stock.
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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