Court Place Advisors LLC Cuts Stake in J P Morgan Chase & Co (NYSE:JPM)

Court Place Advisors LLC decreased its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 0.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,765 shares of the financial services provider’s stock after selling 148 shares during the period. Court Place Advisors LLC’s holdings in J P Morgan Chase & Co were worth $2,087,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pacific Center for Financial Services acquired 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 J P Morgan Chase & Co during the fourth quarter valued at about $125,000. Thomas J. Herzfeld Advisors Inc. purchased a new stake in J P Morgan Chase & Co during the fourth quarter valued at about $125,000. Glacier Peak Capital LLC purchased a new stake in J P Morgan Chase & Co during the fourth quarter valued at about $129,000. Finally, Tortoise Investment Management LLC raised its stake in 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 valued at $136,000 after buying an additional 1,283 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Shares of J P Morgan Chase & Co (NYSE JPM) opened at 93.68 on Wednesday. J P Morgan Chase & Co has a 52-week low of $64.86 and a 52-week high of $95.22. The company’s 50 day moving average price is $91.05 and its 200 day moving average price is $88.16. The stock has a market capitalization of $329.66 billion, a PE ratio of 13.82 and a beta of 1.19.

J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.23. The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.55 EPS. On average, equities research analysts anticipate that J P Morgan Chase & Co will post $6.81 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Thursday, July 6th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, July 3rd. This represents a $2.00 annualized dividend and a yield of 2.13%. J P Morgan Chase & Co’s payout ratio is presently 29.59%.

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Several brokerages have recently weighed in on JPM. UBS AG reissued a “buy” rating and issued a $101.00 price objective on shares of J P Morgan Chase & Co in a research report on Monday, May 15th. Berenberg Bank set a $65.00 price target on shares of J P Morgan Chase & Co and gave the company a “sell” rating in a research note on Thursday, August 3rd. Zacks Investment Research downgraded shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Instinet reiterated a “neutral” rating and set a $84.00 price objective (down from $87.00) on shares of J P Morgan Chase & Co in a research note on Saturday, June 3rd. Finally, BidaskClub downgraded shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $84.71.

In related news, CFO Marianne Lake sold 17,596 shares of the company’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $91.58, for a total value of $1,611,441.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicole Giles sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $91.29, for a total value of $91,290.00. Following the transaction, the insider now directly owns 3,783 shares of the company’s stock, valued at approximately $345,350.07. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,110 shares of company stock worth $2,270,818. Company insiders own 0.85% of the company’s stock.

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.

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

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