J P Morgan Chase & Co (NYSE:JPM) Position Cut by Halbert Hargrove Russell LLC

Halbert Hargrove Russell LLC trimmed its stake in J P Morgan Chase & Co (NYSE:JPM) by 4.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,231 shares of the financial services provider’s stock after selling 372 shares during the period. J P Morgan Chase & Co accounts for approximately 0.2% of Halbert Hargrove Russell LLC’s holdings, making the stock its 27th largest position. Halbert Hargrove Russell LLC’s holdings in J P Morgan Chase & Co were worth $635,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of J P Morgan Chase & Co in the 4th quarter worth $2,897,377,000. Dodge & Cox purchased a new stake in shares of J P Morgan Chase & Co in the 4th quarter worth $2,297,616,000. Teachers Advisors LLC increased its stake in shares of J P Morgan Chase & Co by 10.1% in the 4th quarter. Teachers Advisors LLC now owns 8,317,280 shares of the financial services provider’s stock worth $717,698,000 after purchasing an additional 764,019 shares in the last quarter. Swedbank increased its stake in shares of J P Morgan Chase & Co by 19.0% in the 1st quarter. Swedbank now owns 5,261,038 shares of the financial services provider’s stock worth $462,130,000 after purchasing an additional 840,518 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its stake in shares of J P Morgan Chase & Co by 2.7% in the 1st quarter. Chevy Chase Trust Holdings Inc. now owns 3,127,521 shares of the financial services provider’s stock worth $274,721,000 after purchasing an additional 80,853 shares in the last quarter. Hedge funds and other institutional investors own 78.02% of the company’s stock.

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J P Morgan Chase & Co (JPM) traded up 0.71% during midday trading on Friday, hitting $91.62. 18,171,794 shares of the stock traded hands. J P Morgan Chase & Co has a one year low of $65.11 and a one year high of $95.22. The stock has a market cap of $322.36 billion, a price-to-earnings ratio of 13.52 and a beta of 1.19. The company has a 50-day moving average price of $91.54 and a 200 day moving average price of $89.03.

J P Morgan Chase & Co (NYSE:JPM) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.23. The firm 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 net margin of 24.13% and a return on equity of 11.53%. The company’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $1.55 EPS. Equities research analysts anticipate that J P Morgan Chase & Co will post $6.81 earnings per share for the current year.

In related news, CFO Marianne Lake sold 17,596 shares of the stock in a transaction on Monday, July 17th. The shares were sold at an average price of $91.58, for a total value of $1,611,441.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 9,968 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $90.55, for a total transaction of $902,602.40. Following the sale, the general counsel now owns 10,527 shares of the company’s stock, valued at approximately $953,219.85. The disclosure for this sale can be found here. Insiders sold a total of 28,564 shares of company stock worth $2,605,334 over the last ninety days. Insiders own 0.88% of the company’s stock.

Several research firms have recently commented on JPM. Vetr lowered J P Morgan Chase & Co from a “buy” rating to a “hold” rating and set a $93.14 price objective for the company. in a research note on Tuesday. Instinet reiterated a “neutral” rating and issued a $84.00 price target (down previously from $87.00) on shares of J P Morgan Chase & Co in a research note on Saturday, June 3rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $95.00 price target on shares of J P Morgan Chase & Co in a research note on Friday, August 18th. BidaskClub lowered J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Berenberg Bank set a $65.00 price target on J P Morgan Chase & Co and gave the stock a “sell” rating in a research note on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eighteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $85.59.

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.

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

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