Carroll Financial Associates Inc. Cuts Stake in J P Morgan Chase & Co (JPM)

Carroll Financial Associates Inc. reduced its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 86,101 shares of the financial services provider’s stock after selling 826 shares during the period. J P Morgan Chase & Co makes up approximately 1.0% of Carroll Financial Associates Inc.’s portfolio, making the stock its 22nd largest position. Carroll Financial Associates Inc.’s holdings in J P Morgan Chase & Co were worth $7,563,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Pacific Center for Financial Services purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $106,000. Northwest Quadrant Wealth Management LLC purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $125,000. Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $125,000. Glacier Peak Capital LLC purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $129,000. Finally, Tortoise Investment Management LLC increased its stake in shares of J P Morgan Chase & Co by 434.9% in the fourth quarter. Tortoise Investment Management LLC now owns 1,578 shares of the financial services provider’s stock worth $136,000 after buying an additional 1,283 shares in the last quarter. 74.28% of the stock is currently owned by institutional investors.

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

Shares of J P Morgan Chase & Co (NYSE:JPM) traded up 2.19% on Monday, reaching $88.07. 15,971,769 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $85.69 and its 200-day moving average price is $86.73. J P Morgan Chase & Co has a 12 month low of $57.05 and a 12 month high of $93.98. The company has a market capitalization of $312.85 billion, a P/E ratio of 13.56 and a beta of 1.22.

J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings data on Thursday, April 13th. The financial services provider reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.13. J P Morgan Chase & Co had a return on equity of 11.25% and a net margin of 23.82%. The company had revenue of $25.59 billion during the quarter, compared to analysts’ expectations of $24.40 billion. During the same period in the prior year, the business earned $1.35 earnings per share. J P Morgan Chase & Co’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities analysts anticipate that J P Morgan Chase & Co will post $6.66 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be given a $0.50 dividend. The ex-dividend date is Monday, July 3rd. This represents a $2.00 annualized dividend and a dividend yield of 2.27%. J P Morgan Chase & Co’s dividend payout ratio is 30.82%.

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A number of research firms recently commented on JPM. BMO Capital Markets reaffirmed a “hold” rating on shares of J P Morgan Chase & Co in a research report on Wednesday, March 1st. BidaskClub raised shares of J P Morgan Chase & Co from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Keefe, Bruyette & Woods increased their target price on shares of J P Morgan Chase & Co to $47.00 and gave the company a “buy” rating in a research report on Monday, April 17th. Vetr downgraded shares of J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $97.41 target price on the stock. in a research report on Monday, June 12th. Finally, Vining Sparks raised shares of J P Morgan Chase & Co to an “outperform” rating and set a $95.00 price objective on the stock in a research report on Thursday, April 27th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $82.01.

In other news, Director James S. Crown bought 11,500 shares of J P Morgan Chase & Co stock in a transaction that occurred on Wednesday, April 19th. The stock was purchased at an average cost of $85.48 per share, with a total value of $983,020.00. Following the completion of the transaction, the director now directly owns 299,862 shares in the company, valued at $25,632,203.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Matthew E. Zames sold 3,405 shares of the firm’s stock in a transaction on Monday, April 17th. The stock was sold at an average price of $85.06, for a total value of $289,629.30. Following the completion of the transaction, the chief operating officer now directly owns 329,019 shares of the company’s stock, valued at $27,986,356.14. The disclosure for this sale can be found here. Insiders sold 20,711 shares of company stock valued at $1,775,791 over the last three months. 0.85% of the stock is owned by company insiders.

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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