J P Morgan Chase & Co (JPM) Shares Sold by ClariVest Asset Management LLC
ClariVest Asset Management LLC reduced its position in J P Morgan Chase & Co (NYSE:JPM) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,487 shares of the financial services provider’s stock after selling 209 shares during the quarter. ClariVest Asset Management LLC’s holdings in J P Morgan Chase & Co were worth $959,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in JPM. Harbour Capital Advisors LLC lifted its position in J P Morgan Chase & Co by 8,767.4% during the second quarter. Harbour Capital Advisors LLC now owns 2,794,464 shares of the financial services provider’s stock valued at $30,574,000 after purchasing an additional 2,762,950 shares during the period. Karp Capital Management Corp acquired a new position in J P Morgan Chase & Co during the first quarter valued at $140,124,000. State Street Corp lifted its position in J P Morgan Chase & Co by 0.8% during the first quarter. State Street Corp now owns 170,534,760 shares of the financial services provider’s stock valued at $14,979,775,000 after purchasing an additional 1,357,194 shares during the period. Pioneer Investment Management Inc. lifted its position in J P Morgan Chase & Co by 22.2% during the first quarter. Pioneer Investment Management Inc. now owns 7,402,919 shares of the financial services provider’s stock valued at $650,272,000 after purchasing an additional 1,344,295 shares during the period. Finally, Hexavest Inc. lifted its position in J P Morgan Chase & Co by 33,815.1% during the second quarter. Hexavest Inc. now owns 904,516 shares of the financial services provider’s stock valued at $82,673,000 after purchasing an additional 901,849 shares during the period. 78.97% of the stock is currently owned by hedge funds and other institutional investors.
J P Morgan Chase & Co (NYSE JPM) opened at $98.47 on Friday. The stock has a market cap of $340,692.38, a PE ratio of 14.15, a price-to-earnings-growth ratio of 2.13 and a beta of 1.22. J P Morgan Chase & Co has a 52-week low of $77.29 and a 52-week high of $102.42. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.37.
J P Morgan Chase & Co (NYSE:JPM) last released its earnings results on Thursday, October 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.09. J P Morgan Chase & Co had a net margin of 24.08% and a return on equity of 11.68%. The firm had revenue of $25.33 billion during the quarter, compared to the consensus estimate of $24.91 billion. During the same period in the previous year, the firm earned $1.58 earnings per share. J P Morgan Chase & Co’s revenue was up 2.6% compared to the same quarter last year. equities analysts expect that J P Morgan Chase & Co will post 6.91 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th were given a dividend of $0.56 per share. This is a boost from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Thursday, October 5th. J P Morgan Chase & Co’s payout ratio is presently 32.28%.
In other news, General Counsel Stacey Friedman sold 9,968 shares of the company’s 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 in the company, valued at $953,219.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.
Several research analysts recently weighed in on JPM shares. Barclays PLC upped their price objective on shares of J P Morgan Chase & Co from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, October 13th. Keefe, Bruyette & Woods set a $96.00 price objective on shares of J P Morgan Chase & Co and gave the company a “hold” rating in a research note on Saturday, August 19th. Credit Suisse Group reaffirmed a “buy” rating and set a $110.00 price objective (up previously from $103.00) on shares of J P Morgan Chase & Co in a research note on Monday, October 9th. They noted that the move was a valuation call. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of J P Morgan Chase & Co in a research note on Thursday, October 12th. Finally, Morgan Stanley increased their price target on shares of J P Morgan Chase & Co from $99.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, October 13th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the company. J P Morgan Chase & Co currently has an average rating of “Hold” and an average target price of $92.18.
J P Morgan Chase & Co 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).
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.