Leonetti & Associates LLC Reduces Position in J P Morgan Chase & Co (JPM)

Leonetti & Associates LLC decreased its holdings in J P Morgan Chase & Co (NYSE:JPM) by 7.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,750 shares of the financial services provider’s stock after selling 8,850 shares during the period. J P Morgan Chase & Co accounts for approximately 2.9% of Leonetti & Associates LLC’s holdings, making the stock its 10th biggest holding. Leonetti & Associates LLC’s holdings in J P Morgan Chase & Co were worth $9,816,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $2,897,377,000. Dodge & Cox purchased a new position in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $2,297,616,000. Swedbank increased its position in shares of J P Morgan Chase & Co by 19.0% during the first quarter. Swedbank now owns 5,261,038 shares of the financial services provider’s stock worth $462,130,000 after acquiring an additional 840,518 shares during the period. Teachers Advisors LLC increased its position in shares of J P Morgan Chase & Co by 10.1% during the fourth quarter. Teachers Advisors LLC now owns 8,317,280 shares of the financial services provider’s stock worth $717,698,000 after acquiring an additional 764,019 shares during the period. Finally, Kentucky Retirement Systems purchased a new position in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $22,406,000. 78.02% of the stock is owned by hedge funds and other institutional investors.

JPM has been the subject of several recent analyst reports. Wells Fargo & Company initiated coverage on shares of J P Morgan Chase & Co in a research note on Wednesday, August 9th. They set an “outperform” rating and a $110.00 price objective for the company. Vetr upgraded shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $93.14 target price for the company in a research report on Wednesday, September 6th. Zacks Investment Research upgraded shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research report on Tuesday, July 18th. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of J P Morgan Chase & Co in a research report on Friday, July 21st. Finally, Credit Suisse Group decreased their target price on shares of J P Morgan Chase & Co from $102.00 to $99.00 and set an “outperform” rating for the company in a research report on Thursday, June 29th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eighteen have issued a buy rating to the company’s stock. J P Morgan Chase & Co currently has an average rating of “Hold” and a consensus price target of $85.59.

Shares of J P Morgan Chase & Co (JPM) traded up 0.71% during mid-day trading on Friday, reaching $91.62. 18,171,794 shares of the company were exchanged. J P Morgan Chase & Co has a 12 month low of $65.11 and a 12 month high of $95.22. The company’s 50-day moving average is $91.54 and its 200 day moving average is $89.03. The firm has a market capitalization of $322.36 billion, a price-to-earnings ratio of 13.52 and a beta of 1.19.

J P Morgan Chase & Co (NYSE:JPM) last released its quarterly earnings data 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. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the previous year, the business posted $1.55 EPS. J P Morgan Chase & Co’s revenue for the quarter was up 4.6% on a year-over-year basis. Analysts predict that J P Morgan Chase & Co will post $6.81 EPS for the current year.

In other news, General Counsel Stacey Friedman sold 9,968 shares of the company’s 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 completion of the sale, the general counsel now directly owns 10,527 shares in the company, valued at approximately $953,219.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nicole Giles sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 18th. The stock was 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. Insiders have sold a total of 28,564 shares of company stock worth $2,605,334 in the last ninety days. Insiders own 0.88% of the company’s stock.

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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.

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

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