Investors Buy J P Morgan Chase & Co (NYSE:JPM) on Weakness

Investors bought shares of J P Morgan Chase & Co (NYSE:JPM) on weakness during trading on Tuesday. $275.21 million flowed into the stock on the tick-up and $238.24 million flowed out of the stock on the tick-down, for a money net flow of $36.97 million into the stock. Of all stocks tracked, J P Morgan Chase & Co had the 18th highest net in-flow for the day. J P Morgan Chase & Co traded down ($0.34) for the day and closed at $93.68

JPM has been the subject of several recent research reports. UBS AG restated a “buy” rating and issued a $101.00 price target on shares of J P Morgan Chase & Co in a research report on Monday, May 15th. Instinet restated a “neutral” rating and issued a $84.00 price target (down from $87.00) on shares of J P Morgan Chase & Co in a research report on Saturday, June 3rd. Berenberg Bank set a $65.00 price objective on shares of J P Morgan Chase & Co and gave the company a “sell” rating in a research note on Thursday, August 3rd. BidaskClub lowered shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Zacks Investment Research lowered shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $85.53.

The company has a 50-day moving average of $92.32 and a 200 day moving average of $88.70. The stock has a market cap of $319.27 billion, a P/E ratio of 13.39 and a beta of 1.19.

J P Morgan Chase & Co (NYSE:JPM) last issued 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. 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 the consensus estimate of $24.38 billion. During the same quarter in the prior year, the business earned $1.55 EPS. J P Morgan Chase & Co’s revenue was up 4.6% on a year-over-year basis. On average, analysts anticipate that J P Morgan Chase & Co will post $6.81 EPS for the current year.

In other news, insider Nicole Giles sold 1,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 3,783 shares of the company’s stock, valued at approximately $345,350.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marianne Lake sold 17,596 shares of the firm’s stock in a transaction that occurred 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. 0.85% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Private Vista LLC purchased a new position in J P Morgan Chase & Co during the second quarter valued at $102,000. Pacific Center for Financial Services bought a new position in J P Morgan Chase & Co during the fourth quarter valued at $106,000. Thomas J. Herzfeld Advisors Inc. bought a new position in J P Morgan Chase & Co during the fourth quarter valued at $125,000. Tortoise Investment Management LLC increased its stake in shares of 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 worth $136,000 after buying an additional 1,283 shares in the last quarter. Finally, Horrell Capital Management Inc. increased its stake in shares of 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 worth $145,000 after buying an additional 78 shares in the last quarter. 74.84% of the stock is owned by hedge funds and other institutional investors.

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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.

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