MUFG Americas Holdings Corp lifted 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 653,770 shares of the financial services provider’s stock after acquiring an additional 44,734 shares during the period. J P Morgan Chase & Co accounts for approximately 1.9% of MUFG Americas Holdings Corp’s holdings, making the stock its 7th biggest holding. MUFG Americas Holdings Corp’s holdings in J P Morgan Chase & Co were worth $57,426,000 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.
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, CFO Marianne Lake sold 17,596 shares of the company’s 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 disclosure for this sale can be found here. Insiders sold a total of 28,564 shares of company stock valued at $2,605,334 over the last 90 days. 0.88% of the stock is currently owned by corporate insiders.
JPM has been the topic of several research 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.
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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. The firm has a market capitalization of $322.36 billion, a price-to-earnings ratio of 13.52 and a beta of 1.19. The company’s 50-day moving average is $91.54 and its 200 day moving average is $89.03. J P Morgan Chase & Co has a 12 month low of $65.11 and a 12 month high of $95.22.
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, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.23. The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates 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 business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.55 EPS. Analysts predict that J P Morgan Chase & Co will post $6.81 EPS for the current year.
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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