Lincoln Capital Corp Boosts Position in J P Morgan Chase & Co (JPM)
Lincoln Capital Corp increased its holdings in shares of J P Morgan Chase & Co (NYSE:JPM) by 2.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,455 shares of the financial services provider’s stock after purchasing an additional 985 shares during the quarter. J P Morgan Chase & Co accounts for 2.8% of Lincoln Capital Corp’s holdings, making the stock its 17th biggest position. Lincoln Capital Corp’s holdings in J P Morgan Chase & Co were worth $3,149,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacific Center for Financial Services increased its stake in J P Morgan Chase & Co by 14.5% during the 1st quarter. Pacific Center for Financial Services now owns 1,401 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 177 shares in the last quarter. Horrell Capital Management Inc. increased its stake in J P Morgan Chase & Co by 5.0% during the 1st quarter. Horrell Capital Management Inc. now owns 1,647 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 78 shares in the last quarter. Ullmann Financial Group Inc. bought a new stake in J P Morgan Chase & Co during the 1st quarter worth approximately $148,000. Northwest Investment Counselors LLC bought a new stake in J P Morgan Chase & Co during the 2nd quarter worth approximately $165,000. Finally, CMH Wealth Management LLC bought a new stake in J P Morgan Chase & Co during the 2nd quarter worth approximately $211,000. 77.90% of the stock is owned by institutional investors and hedge funds.
JPM has been the subject of a number of research reports. Berenberg Bank set a $65.00 target price on J P Morgan Chase & Co and gave the stock a “sell” rating in a research note on Thursday, August 3rd. Wells Fargo & Company initiated coverage on J P Morgan Chase & Co in a research note on Wednesday, August 9th. They set an “outperform” rating and a $110.00 target price for the company. Deutsche Bank AG reissued a “buy” rating on shares of J P Morgan Chase & Co in a research note on Monday, July 3rd. Bank of America Corporation reissued a “buy” rating and set a $99.00 target price on shares of J P Morgan Chase & Co in a research note on Monday, July 17th. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $93.00 target price on shares of J P Morgan Chase & Co in a research note on Thursday, July 6th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seventeen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $87.10.
In other news, CFO Marianne Lake sold 17,596 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $91.58, for a total transaction of $1,611,441.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Stacey Friedman sold 9,968 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $90.55, for a total value of $902,602.40. Following the transaction, the general counsel now directly owns 10,527 shares in the company, valued at approximately $953,219.85. The disclosure for this sale can be found here. Insiders have sold a total of 28,564 shares of company stock worth $2,605,334 in the last ninety days. Insiders own 0.88% of the company’s stock.
J P Morgan Chase & Co (NYSE JPM) traded up 0.14% on Friday, reaching $95.51. The company’s stock had a trading volume of 11,438,412 shares. The firm has a 50 day moving average of $91.64 and a 200 day moving average of $89.00. J P Morgan Chase & Co has a 12 month low of $65.11 and a 12 month high of $95.52. The firm has a market cap of $336.05 billion, a price-to-earnings ratio of 14.09 and a beta of 1.19.
J P Morgan Chase & Co (NYSE:JPM) last issued its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm earned $1.55 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts anticipate that J P Morgan Chase & Co will post $6.80 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Thursday, October 5th. This is a boost from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. J P Morgan Chase & Co’s dividend payout ratio is currently 29.59%.
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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