Griffin Asset Management Inc. Takes $5.06 Million Position in J P Morgan Chase & Co (JPM)

Griffin Asset Management Inc. acquired a new position in shares of J P Morgan Chase & Co (NYSE:JPM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 55,340 shares of the financial services provider’s stock, valued at approximately $5,058,000. J P Morgan Chase & Co comprises approximately 1.4% of Griffin Asset Management Inc.’s portfolio, making the stock its 28th largest holding.

A number of other hedge funds have also recently modified their holdings of the stock. Jackson Grant Investment Advisers Inc. grew its position in shares of J P Morgan Chase & Co by 0.4% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 3,289 shares of the financial services provider’s stock valued at $301,000 after buying an additional 12 shares during the last quarter. IPG Investment Advisors LLC grew its position in shares of J P Morgan Chase & Co by 0.3% in the 2nd quarter. IPG Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock valued at $608,000 after buying an additional 17 shares during the last quarter. BSW Wealth Partners grew its position in shares of J P Morgan Chase & Co by 0.5% in the 1st quarter. BSW Wealth Partners now owns 4,889 shares of the financial services provider’s stock valued at $429,000 after buying an additional 26 shares during the last quarter. Sunbelt Securities Inc. grew its position in shares of J P Morgan Chase & Co by 0.5% in the 2nd quarter. Sunbelt Securities Inc. now owns 5,128 shares of the financial services provider’s stock valued at $469,000 after buying an additional 26 shares during the last quarter. Finally, Financial Advisory Service Inc. grew its position in shares of J P Morgan Chase & Co by 0.7% in the 1st quarter. Financial Advisory Service Inc. now owns 5,028 shares of the financial services provider’s stock valued at $442,000 after buying an additional 36 shares during the last quarter. Institutional investors and hedge funds own 73.93% of the company’s stock.

In related news, General Counsel Stacey Friedman sold 2,099 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $101.96, for a total transaction of $214,014.04. Following the transaction, the general counsel now directly owns 15,279 shares of the company’s stock, valued at approximately $1,557,846.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.88% of the stock is currently owned by corporate insiders.

J P Morgan Chase & Co (NYSE:JPM) opened at $106.14 on Friday. J P Morgan Chase & Co has a 52 week low of $81.64 and a 52 week high of $108.40. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $368,276.72, a P/E ratio of 15.29, a P/E/G ratio of 2.30 and a beta of 1.22.

J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.09. J P Morgan Chase & Co had a return on equity of 11.68% and a net margin of 24.08%. The business had revenue of $25.33 billion for the quarter, compared to the consensus estimate of $24.91 billion. During the same period in the prior year, the business earned $1.58 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. analysts anticipate that J P Morgan Chase & Co will post 6.91 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 5th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, January 4th. J P Morgan Chase & Co’s dividend payout ratio (DPR) is currently 32.28%.

A number of equities research analysts have commented on JPM shares. Keefe, Bruyette & Woods set a $96.00 price target on J P Morgan Chase & Co and gave the company a “hold” rating in a research report on Saturday, August 19th. Zacks Investment Research upgraded J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research report on Thursday, August 24th. BMO Capital Markets reiterated a “hold” rating and issued a $86.00 price target on shares of J P Morgan Chase & Co in a research report on Friday, August 25th. Vetr upgraded J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $93.14 price target on the stock in a research report on Wednesday, September 6th. Finally, Jefferies Group reiterated a “buy” rating and issued a $102.00 price target on shares of J P Morgan Chase & Co in a research report on Friday, September 15th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $92.18.

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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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