Kidder Stephen W cut its stake in J P Morgan Chase & Co (NYSE:JPM) by 1.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,990 shares of the financial services provider’s stock after selling 50 shares during the period. Kidder Stephen W’s holdings in J P Morgan Chase & Co were worth $365,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Grand Jean Capital Management Inc. increased its holdings in J P Morgan Chase & Co by 33.3% during the 1st quarter. Grand Jean Capital Management Inc. now owns 26,788 shares of the financial services provider’s stock valued at $2,353,000 after purchasing an additional 6,688 shares in the last quarter. Gradient Investments LLC increased its holdings in J P Morgan Chase & Co by 9.1% during the 2nd quarter. Gradient Investments LLC now owns 75,929 shares of the financial services provider’s stock valued at $6,940,000 after purchasing an additional 6,365 shares in the last quarter. Thomaspartners Inc. increased its holdings in J P Morgan Chase & Co by 2.8% during the 1st quarter. Thomaspartners Inc. now owns 2,572,428 shares of the financial services provider’s stock valued at $225,962,000 after purchasing an additional 70,882 shares in the last quarter. Doyle Wealth Management increased its holdings in J P Morgan Chase & Co by 1.1% during the 2nd quarter. Doyle Wealth Management now owns 175,460 shares of the financial services provider’s stock valued at $16,037,000 after purchasing an additional 1,988 shares in the last quarter. Finally, Manning & Napier Advisors LLC increased its holdings in J P Morgan Chase & Co by 19.3% during the 2nd quarter. Manning & Napier Advisors LLC now owns 389,834 shares of the financial services provider’s stock valued at $35,629,000 after purchasing an additional 63,157 shares in the last quarter. 77.89% of the stock is owned by institutional investors and hedge funds.

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J P Morgan Chase & Co (NYSE:JPM) last released its quarterly earnings data on Thursday, October 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.10. The company had revenue of $25.33 billion for the quarter, compared to analysts’ expectations of $24.91 billion. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.58 EPS.

The business also recently disclosed 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 2.33%. The ex-dividend date of this dividend 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 33.14%.

In other news, 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 transaction, the general counsel now owns 10,527 shares of the company’s stock, valued at approximately $953,219.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole Giles sold 1,000 shares of the stock in a transaction dated 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 a total of 28,564 shares of company stock worth $2,605,334 in the last three months. Insiders own 0.88% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of J P Morgan Chase & Co in a report on Wednesday. Citigroup Inc. raised their price target on J P Morgan Chase & Co from $90.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, October 6th. Credit Suisse Group reaffirmed a “buy” rating and set a $110.00 price target (up from $103.00) on shares of J P Morgan Chase & Co in a report on Monday. They noted that the move was a valuation call. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of J P Morgan Chase & Co in a report on Thursday. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $88.00 price target on shares of J P Morgan Chase & Co in a report on Thursday, September 21st. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and seventeen have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $88.87.

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

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