Visionary Asset Management Inc. bought a new position in shares of J P Morgan Chase & Co (NYSE:JPM) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 2,848 shares of the financial services provider’s stock, valued at approximately $260,000.
Several other hedge funds and other institutional investors have also bought and sold shares of JPM. Pacific Center for Financial Services acquired a new position in J P Morgan Chase & Co during the fourth quarter worth $106,000. Thomas J. Herzfeld Advisors Inc. purchased a new position in J P Morgan Chase & Co during the fourth quarter valued at approximately $125,000. Glacier Peak Capital LLC purchased a new position in J P Morgan Chase & Co during the fourth quarter valued at approximately $129,000. Tortoise Investment Management LLC raised its position in J P Morgan Chase & Co by 434.9% in the fourth quarter. Tortoise Investment Management LLC now owns 1,578 shares of the financial services provider’s stock valued at $136,000 after buying an additional 1,283 shares during the last quarter. Finally, Horrell Capital Management Inc. raised its position in J P Morgan Chase & Co by 5.0% in the first quarter. Horrell Capital Management Inc. now owns 1,647 shares of the financial services provider’s stock valued at $145,000 after buying an additional 78 shares during the last quarter. 74.84% of the stock is owned by hedge funds and other institutional investors.
Shares of J P Morgan Chase & Co (JPM) opened at 90.74 on Friday. J P Morgan Chase & Co has a 52 week low of $64.86 and a 52 week high of $95.22. The stock’s 50 day moving average price is $92.32 and its 200-day moving average price is $88.70. The stock has a market cap of $319.27 billion, a price-to-earnings ratio of 13.39 and a beta of 1.19.
J P Morgan Chase & Co (NYSE:JPM) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share for the quarter, topping the 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 analyst estimates of $24.38 billion. During the same quarter last year, the company earned $1.55 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. Equities analysts anticipate that J P Morgan Chase & Co will post $6.81 earnings per share for the current fiscal year.
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JPM has been the subject of several recent analyst reports. Vetr lowered shares of J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $99.01 price objective for the company. in a research note on Wednesday, April 26th. Guggenheim raised shares of J P Morgan Chase & Co from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $88.25 to $96.00 in a research note on Tuesday, April 25th. UBS AG reaffirmed a “buy” rating and set a $101.00 price objective on shares of J P Morgan Chase & Co in a research note on Monday, May 15th. Deutsche Bank AG reaffirmed a “buy” rating on shares of J P Morgan Chase & Co in a research note on Monday, July 3rd. Finally, BidaskClub raised shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $85.53.
In other news, CFO Marianne Lake sold 17,596 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $91.58, for a total transaction of $1,611,441.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nicole Giles sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $91.29, for a total value of $91,290.00. Following the sale, the insider now directly owns 3,783 shares in the company, valued at approximately $345,350.07. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by company insiders.
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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