J P Morgan Chase & Co (JPM) Stake Held by Meridian Investment Counsel Inc.
Meridian Investment Counsel Inc. maintained its position in J P Morgan Chase & Co (NYSE:JPM) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,114 shares of the financial services provider’s stock at the end of the first quarter. Meridian Investment Counsel Inc.’s holdings in J P Morgan Chase & Co were worth $537,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lincluden Management Ltd. raised its position in J P Morgan Chase & Co by 18.7% in the fourth quarter. Lincluden Management Ltd. now owns 159,375 shares of the financial services provider’s stock valued at $13,752,000 after buying an additional 25,134 shares in the last quarter. Lincoln Capital Corp bought a new position in J P Morgan Chase & Co during the fourth quarter valued at approximately $2,813,000. Dodge & Cox bought a new position in J P Morgan Chase & Co during the fourth quarter valued at approximately $2,297,616,000. Israel Discount Bank of New York GFN bought a new position in J P Morgan Chase & Co during the fourth quarter valued at approximately $1,857,000. Finally, Elkhorn Investments LLC bought a new position in J P Morgan Chase & Co during the fourth quarter valued at approximately $761,000. Institutional investors own 78.01% of the company’s stock.
J P Morgan Chase & Co (NYSE:JPM) traded up 0.03% on Thursday, reaching $91.34. 3,153,747 shares of the company were exchanged. The stock has a market capitalization of $321.38 billion, a price-to-earnings ratio of 13.47 and a beta of 1.19. The stock has a 50-day moving average price of $92.15 and a 200 day moving average price of $88.91. J P Morgan Chase & Co has a 52 week low of $65.11 and a 52 week high of $95.22.
J P Morgan Chase & Co (NYSE:JPM) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, topping the consensus estimate of $1.59 by $0.23. The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.55 earnings per share. Analysts forecast that J P Morgan Chase & Co will post $6.81 earnings per share for the current year.
Several research firms recently commented on JPM. Goldman Sachs Group Inc reiterated a “neutral” rating and issued a $93.00 price target on shares of J P Morgan Chase & Co in a research report on Thursday, July 6th. Wells Fargo & Company began coverage on J P Morgan Chase & Co in a research report on Wednesday, August 9th. They issued an “outperform” rating and a $110.00 price target for the company. Buckingham Research reiterated a “neutral” rating and issued a $100.00 price target (up previously from $94.00) on shares of J P Morgan Chase & Co in a research report on Monday, July 10th. Berenberg Bank set a $65.00 price objective on shares of J P Morgan Chase & Co and gave the stock a “sell” rating in a research note on Thursday, August 3rd. Finally, BidaskClub raised shares of 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, thirteen have given a hold rating and nineteen have given a buy rating to the company. J P Morgan Chase & Co presently has an average rating of “Hold” and an average price target of $85.72.
In related news, CFO Marianne Lake sold 17,596 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $91.58, for a total value of $1,611,441.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stacey Friedman sold 9,968 shares of the stock in a transaction dated 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 transaction, the general counsel now owns 10,527 shares of the company’s stock, valued at approximately $953,219.85. The disclosure for this sale can be found here. Insiders have sold 28,564 shares of company stock valued at $2,605,334 in the last 90 days. Insiders own 0.88% 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.
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