South Texas Money Management Ltd. cut its stake in shares of J P Morgan Chase & Co (NYSE:JPM) by 31.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,504 shares of the financial services provider’s stock after selling 2,058 shares during the period. South Texas Money Management Ltd.’s holdings in J P Morgan Chase & Co were worth $396,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Polaris Capital Management LLC increased its stake in J P Morgan Chase & Co by 25.6% in the fourth quarter. Polaris Capital Management LLC now owns 435,800 shares of the financial services provider’s stock valued at $37,605,000 after buying an additional 88,700 shares during the period. Fiera Capital Corp increased its stake in J P Morgan Chase & Co by 23.6% in the fourth quarter. Fiera Capital Corp now owns 465,425 shares of the financial services provider’s stock valued at $40,162,000 after buying an additional 88,723 shares during the period. Girard Securities Inc. purchased a new stake in J P Morgan Chase & Co during the fourth quarter valued at about $276,000. William Blair Investment Management LLC purchased a new stake in J P Morgan Chase & Co during the fourth quarter valued at about $65,032,000. Finally, Fred Alger Management Inc. increased its stake in J P Morgan Chase & Co by 277.4% in the fourth quarter. Fred Alger Management Inc. now owns 398,423 shares of the financial services provider’s stock valued at $34,379,000 after buying an additional 292,848 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Shares of J P Morgan Chase & Co (NYSE JPM) opened at 93.66 on Monday. The firm has a market cap of $329.59 billion, a PE ratio of 13.82 and a beta of 1.19. J P Morgan Chase & Co has a 52 week low of $63.65 and a 52 week high of $94.51. The stock has a 50 day moving average price of $90.52 and a 200 day moving average price of $88.06.

J P Morgan Chase & Co (NYSE:JPM) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.23. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. The company’s revenue was up 4.6% compared to the same quarter last year. Equities analysts expect that J P Morgan Chase & Co will post $6.81 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Thursday, July 6th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend 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%.

ILLEGAL ACTIVITY NOTICE: “South Texas Money Management Ltd. Sells 2,058 Shares of J P Morgan Chase & Co (JPM)” was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another publication, it was stolen and reposted in violation of international trademark and copyright legislation. The correct version of this news story can be read at https://www.thecerbatgem.com/2017/08/07/south-texas-money-management-ltd-sells-2058-shares-of-j-p-morgan-chase-co-jpm.html.

Several analysts recently issued reports on the company. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $93.00 price target on shares of J P Morgan Chase & Co in a research note on Thursday, July 6th. Buckingham Research restated 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. Berenberg Bank set a $65.00 price target on J P Morgan Chase & Co and gave the company a “sell” rating in a research note on Thursday. Deutsche Bank AG restated a “buy” rating on shares of J P Morgan Chase & Co in a research note on Monday, July 3rd. Finally, BidaskClub upgraded J P Morgan Chase & Co from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $84.71.

In other news, CFO Marianne Lake sold 17,596 shares of the business’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ashley Bacon sold 6,514 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $87.21, for a total value of $568,085.94. Following the completion of the sale, the insider now directly owns 47,384 shares of the company’s stock, valued at approximately $4,132,358.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,110 shares of company stock valued at $2,270,818. Corporate insiders own 0.85% of the company’s stock.

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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for J P Morgan Chase & Co (NYSE:JPM).

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.