Loeb Partners Corp reduced its stake in shares of J P Morgan Chase & Co (NYSE:JPM) by 10.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 85,500 shares of the financial services provider’s stock after selling 10,000 shares during the period. J P Morgan Chase & Co makes up 2.3% of Loeb Partners Corp’s portfolio, making the stock its 8th largest position. Loeb Partners Corp’s holdings in J P Morgan Chase & Co were worth $7,510,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Pacific Center for Financial Services acquired a new stake in shares of J P Morgan Chase & Co during the fourth quarter valued at about $106,000. Northwest Quadrant Wealth Management LLC acquired a new stake in shares of J P Morgan Chase & Co during the fourth quarter valued at about $125,000. Thomas J. Herzfeld Advisors Inc. acquired a new stake in shares of J P Morgan Chase & Co during the fourth quarter valued at about $125,000. Glacier Peak Capital LLC acquired a new stake in shares of J P Morgan Chase & Co during the fourth quarter valued at about $129,000. Finally, Tortoise Investment Management LLC increased its stake in shares of J P Morgan Chase & Co by 434.9% in the fourth quarter. Tortoise Investment Management LLC now owns 1,578 shares of the financial services provider’s stock valued at $136,000 after buying an additional 1,283 shares during the period. 74.08% of the stock is currently owned by institutional investors.

J P Morgan Chase & Co (JPM) traded up 1.25% on Friday, reaching $93.66. 14,292,087 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $90.52 and a 200 day moving average of $88.06. The stock has a market capitalization of $329.59 billion, a PE ratio of 13.82 and a beta of 1.19. J P Morgan Chase & Co has a 12 month low of $63.65 and a 12 month high of $94.51.

J P Morgan Chase & Co (NYSE:JPM) last announced its earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $24.38 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. J P Morgan Chase & Co’s revenue was up 4.6% compared to the same quarter last year. Equities analysts predict that J P Morgan Chase & Co will post $6.81 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Thursday, July 6th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Monday, July 3rd. J P Morgan Chase & Co’s dividend payout ratio (DPR) is currently 29.59%.

COPYRIGHT VIOLATION WARNING: “J P Morgan Chase & Co (JPM) Stake Reduced by Loeb Partners Corp” was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this story on another publication, it was stolen and republished in violation of international copyright legislation. The correct version of this story can be viewed at https://www.thecerbatgem.com/2017/08/04/loeb-partners-corp-sells-10000-shares-of-j-p-morgan-chase-co-jpm-updated-updated-updated.html.

Several brokerages have issued reports on JPM. UBS AG reaffirmed a “buy” rating and issued a $101.00 price target on shares of J P Morgan Chase & Co in a report on Monday, May 15th. Berenberg Bank set a $65.00 price objective on shares of J P Morgan Chase & Co and gave the company a “sell” rating in a research note on Thursday. Zacks Investment Research downgraded shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Bank of America Corporation reissued a “buy” rating and set a $99.00 price objective on shares of J P Morgan Chase & Co in a research note on Monday, July 17th. Finally, BidaskClub downgraded shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $84.71.

In related news, insider Ashley Bacon sold 6,514 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were 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 $4,132,358.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicole Giles sold 1,000 shares of the business’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 transaction, the insider now directly owns 3,783 shares in the company, valued at approximately $345,350.07. The disclosure for this sale can be found here. Insiders have sold 25,110 shares of company stock worth $2,270,818 in the last ninety days. 0.85% of the stock is currently owned by insiders.

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.

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

Receive News & Stock Ratings for J P Morgan Chase & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J P Morgan Chase & Co and related stocks with our FREE daily email newsletter.