Lord Abbett & CO. LLC lowered its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 10.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,939,792 shares of the financial services provider’s stock after selling 568,669 shares during the quarter. J P Morgan Chase & Co accounts for 1.3% of Lord Abbett & CO. LLC’s investment portfolio, making the stock its largest holding. Lord Abbett & CO. LLC owned 0.14% of J P Morgan Chase & Co worth $451,497,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Private Vista LLC purchased a new position in shares of J P Morgan Chase & Co in the 2nd quarter valued at about $102,000. Atlantic Trust LLC purchased a new position in shares of J P Morgan Chase & Co in the 2nd quarter valued at about $136,000. Northwest Investment Counselors LLC purchased a new position in shares of J P Morgan Chase & Co in the 2nd quarter valued at about $165,000. Capital Advisors Ltd. LLC increased its holdings in shares of J P Morgan Chase & Co by 53.0% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,935 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 670 shares in the last quarter. Finally, Tortoise Investment Management LLC increased its holdings in shares of J P Morgan Chase & Co by 59.5% in the 2nd quarter. Tortoise Investment Management LLC now owns 1,959 shares of the financial services provider’s stock valued at $179,000 after purchasing an additional 731 shares in the last quarter. Institutional investors own 73.93% of the company’s stock.

In other J P Morgan Chase & Co news, General Counsel Stacey Friedman sold 2,099 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $101.96, for a total transaction of $214,014.04. Following the sale, the general counsel now directly owns 15,279 shares of the company’s stock, valued at approximately $1,557,846.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by company insiders.

JPM has been the subject of a number of research analyst reports. Bank of America set a $102.00 price target on shares of J P Morgan Chase & Co and gave the company a “buy” rating in a report on Friday, October 13th. Oppenheimer reiterated a “hold” rating on shares of J P Morgan Chase & Co in a report on Thursday, October 12th. Jefferies Group reiterated a “buy” rating and issued a $102.00 price target on shares of J P Morgan Chase & Co in a report on Friday, September 15th. Royal Bank of Canada reiterated a “buy” rating on shares of J P Morgan Chase & Co in a report on Friday, December 8th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $110.00 price target (up previously from $103.00) on shares of J P Morgan Chase & Co in a report on Monday, October 9th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company. J P Morgan Chase & Co currently has a consensus rating of “Hold” and an average price target of $92.18.

Shares of J P Morgan Chase & Co (NYSE JPM) opened at $106.14 on Friday. J P Morgan Chase & Co has a 12 month low of $81.64 and a 12 month high of $108.40. The stock has a market cap of $368,276.72, a PE ratio of 15.29, a price-to-earnings-growth ratio of 2.30 and a beta of 1.22. 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 quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $25.33 billion for the quarter, compared to analysts’ expectations of $24.91 billion. During the same period last year, the company earned $1.58 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. sell-side analysts predict that J P Morgan Chase & Co will post 6.91 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, January 5th will be paid a dividend of $0.56 per share. The ex-dividend date is Thursday, January 4th. This represents a $2.24 annualized dividend and a dividend yield of 2.11%. J P Morgan Chase & Co’s dividend payout ratio is currently 32.28%.

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

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