Xact Kapitalforvaltning AB raised its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 6.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 608,153 shares of the financial services provider’s stock after buying an additional 38,038 shares during the period. J P Morgan Chase & Co accounts for 1.6% of Xact Kapitalforvaltning AB’s holdings, making the stock its 6th largest position. Xact Kapitalforvaltning AB’s holdings in J P Morgan Chase & Co were worth $53,420,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Menta Capital LLC purchased a new position in shares of J P Morgan Chase & Co during the fourth quarter valued at about $1,726,000. Parallel Advisors LLC purchased a new position in shares of J P Morgan Chase & Co during the fourth quarter valued at about $1,978,000. InterOcean Capital LLC boosted its position in shares of J P Morgan Chase & Co by 0.4% in the fourth quarter. InterOcean Capital LLC now owns 162,615 shares of the financial services provider’s stock valued at $14,032,000 after buying an additional 603 shares during the period. Bristol Advisors LLC purchased a new position in shares of J P Morgan Chase & Co during the fourth quarter valued at about $8,793,000. Finally, Cantab Capital Partners LLP bought a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $255,000. 74.84% of the stock is owned by institutional investors and hedge funds.
J P Morgan Chase & Co (JPM) opened at 90.74 on Friday. 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 has a one year low of $64.86 and a one year high of $95.22. The firm has a 50-day moving average price of $92.32 and a 200-day moving average price of $88.70.
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, beating the Zacks’ consensus estimate of $1.59 by $0.23. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.55 EPS. On average, equities analysts predict that J P Morgan Chase & Co will post $6.81 earnings per share for the current year.
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A number of brokerages have recently commented on JPM. Wells Fargo & Company assumed coverage on shares of J P Morgan Chase & Co in a research report on Wednesday, August 9th. They set an “outperform” rating and a $110.00 target price for the company. Berenberg Bank set a $65.00 price target on shares of J P Morgan Chase & Co and gave the stock a “sell” rating in a research report on Thursday, August 3rd. BidaskClub lowered shares of J P Morgan Chase & Co from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a research report on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of J P Morgan Chase & Co in a report on Friday, July 21st. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $85.53.
In other J P Morgan Chase & Co news, CFO Marianne Lake sold 17,596 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicole Giles sold 1,000 shares of the 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 transaction, the insider now owns 3,783 shares of the company’s stock, valued at approximately $345,350.07. The disclosure for this sale can be found here. Company insiders own 0.85% of the company’s stock.
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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