J P Morgan Chase & Co (JPM) Stake Lifted by Gotham Asset Management LLC

Gotham Asset Management LLC lifted its holdings in J P Morgan Chase & Co (NYSE:JPM) by 37.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,501 shares of the financial services provider’s stock after purchasing an additional 10,669 shares during the period. Gotham Asset Management LLC’s holdings in J P Morgan Chase & Co were worth $3,470,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in JPM. Liberty Capital Management Inc. boosted its holdings in shares of J P Morgan Chase & Co by 35.6% in the first quarter. Liberty Capital Management Inc. now owns 10,298 shares of the financial services provider’s stock worth $905,000 after buying an additional 2,703 shares during the period. Franklin Street Advisors Inc. NC boosted its holdings in shares of J P Morgan Chase & Co by 582.0% during the first quarter. Franklin Street Advisors Inc. NC now owns 105,110 shares of the financial services provider’s stock worth $9,233,000 after purchasing an additional 89,699 shares during the period. McQueen Ball & Associates Inc. raised its position in J P Morgan Chase & Co by 0.3% during the first quarter. McQueen Ball & Associates Inc. now owns 38,093 shares of the financial services provider’s stock valued at $3,346,000 after acquiring an additional 132 shares in the last quarter. Cohen Lawrence B raised its position in J P Morgan Chase & Co by 0.8% during the first quarter. Cohen Lawrence B now owns 32,035 shares of the financial services provider’s stock valued at $2,814,000 after acquiring an additional 240 shares in the last quarter. Finally, Rosenbaum Jay D. raised its position in J P Morgan Chase & Co by 0.9% during the first quarter. Rosenbaum Jay D. now owns 17,270 shares of the financial services provider’s stock valued at $1,517,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 77.90% of the company’s stock.

Shares of J P Morgan Chase & Co (NYSE:JPM) opened at 94.83 on Monday. The firm has a market capitalization of $333.66 billion, a price-to-earnings ratio of 13.99 and a beta of 1.19. The stock’s 50 day moving average price is $91.64 and its 200-day moving average price is $89.00. J P Morgan Chase & Co has a 52 week low of $65.11 and a 52 week high of $95.37.

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

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Thursday, October 5th. This is a positive change from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. J P Morgan Chase & Co’s payout ratio is 29.59%.

In related news, CFO Marianne Lake sold 17,596 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $91.58, for a total value of $1,611,441.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Stacey Friedman sold 9,968 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $90.55, for a total value of $902,602.40. Following the completion of 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 have sold 28,564 shares of company stock valued at $2,605,334 in the last 90 days. Company insiders own 0.88% of the company’s stock.

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Several brokerages recently weighed in on JPM. 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. Robert W. Baird reissued a “hold” rating and issued a $88.00 price target on shares of J P Morgan Chase & Co in a research report on Thursday. Zacks Investment Research lowered shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a research report on Tuesday, August 29th. Vetr lowered 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, Jefferies Group LLC reaffirmed a “buy” rating and set a $102.00 target price on shares of J P Morgan Chase & Co in a research report on Friday, September 15th. Three 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 a consensus rating of “Hold” and a consensus target price of $86.36.

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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