J P Morgan Chase & Co (NYSE:JPM) Stake Cut by Cwm LLC
CWM LLC decreased its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 22.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,429 shares of the financial services provider’s stock after selling 4,095 shares during the period. CWM LLC’s holdings in J P Morgan Chase & Co were worth $1,319,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in JPM. Pacific Center for Financial Services purchased a new position in shares of J P Morgan Chase & Co during the fourth quarter valued at approximately $106,000. Northwest Quadrant Wealth Management LLC bought a new position in J P Morgan Chase & Co during the fourth quarter valued at about $125,000. Thomas J. Herzfeld Advisors Inc. bought a new position in J P Morgan Chase & Co during the fourth quarter valued at about $125,000. Glacier Peak Capital LLC bought a new position in J P Morgan Chase & Co during the fourth quarter valued at about $129,000. Finally, Tortoise Investment Management LLC increased its position in 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 last quarter. Hedge funds and other institutional investors own 74.84% of the company’s stock.
J P Morgan Chase & Co (NYSE JPM) traded up 0.10% during trading on Friday, reaching $90.74. 13,040,738 shares of the company’s stock traded hands. J P Morgan Chase & Co has a 52-week low of $65.11 and a 52-week high of $95.22. The stock has a market cap of $319.27 billion, a price-to-earnings ratio of 13.39 and a beta of 1.19. The company’s 50 day moving average is $92.32 and its 200-day moving average is $88.70.
J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.82 earnings per share for the quarter, beating the Zacks’ 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 for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the previous year, the firm earned $1.55 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. On average, analysts anticipate that J P Morgan Chase & Co will post $6.81 earnings per share for the current fiscal year.
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Several brokerages have recently weighed in on JPM. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $92.00 target price on shares of J P Morgan Chase & Co in a research report on Wednesday, June 7th. Vetr lowered shares of J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $97.41 target price on the stock. in a research report on Monday, May 15th. UBS AG restated a “buy” rating and issued a $101.00 price target on shares of J P Morgan Chase & Co in a research report on Monday, May 15th. Vining Sparks upgraded shares of J P Morgan Chase & Co to an “outperform” rating and set a $95.00 price target on the stock in a research report on Thursday, April 27th. Finally, Guggenheim upgraded shares of J P Morgan Chase & Co from a “neutral” rating to a “buy” rating and boosted their price target for the company from $88.25 to $96.00 in a research report on Tuesday, April 25th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $85.53.
In related news, insider Nicole Giles sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $91.29, for a total value of $91,290.00. Following the transaction, the insider now directly owns 3,783 shares of the company’s stock, valued at approximately $345,350.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Marianne Lake sold 17,596 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $91.58, for a total value of $1,611,441.68. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by insiders.
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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