British Airways Pensions Investment Management Ltd lowered its position in J P Morgan Chase & Co (NYSE:JPM) by 19.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 825,214 shares of the financial services provider’s stock after selling 194,624 shares during the period. J P Morgan Chase & Co comprises 2.2% of British Airways Pensions Investment Management Ltd’s portfolio, making the stock its 3rd largest position. British Airways Pensions Investment Management Ltd’s holdings in J P Morgan Chase & Co were worth $72,449,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of JPM. Pacific Center for Financial Services purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $106,000. Northwest Quadrant Wealth Management LLC purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $125,000. Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $125,000. Glacier Peak Capital LLC purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $129,000. Finally, 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 during the period. Institutional investors and hedge funds own 74.12% of the company’s stock.
Shares of J P Morgan Chase & Co (JPM) opened at 91.28 on Friday. The company has a 50 day moving average of $90.21 and a 200-day moving average of $87.95. J P Morgan Chase & Co has a 52 week low of $63.38 and a 52 week high of $94.51. The company has a market cap of $321.21 billion, a price-to-earnings ratio of 13.47 and a beta of 1.19.
J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.82 earnings per share for the quarter, beating 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 company had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the prior year, the business earned $1.55 earnings per share. J P Morgan Chase & Co’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities research analysts expect that J P Morgan Chase & Co will post $6.82 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be given a $0.50 dividend. The ex-dividend date is Monday, July 3rd. This represents a $2.00 annualized dividend and a dividend yield of 2.19%. J P Morgan Chase & Co’s dividend payout ratio is 29.59%.
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A number of equities research analysts have recently commented on JPM shares. Vetr downgraded shares of J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $99.01 price target for the company. in a report on Wednesday, April 26th. Guggenheim upgraded shares of J P Morgan Chase & Co from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $88.25 to $96.00 in a report on Tuesday, April 25th. Keefe, Bruyette & Woods raised their target price on shares of J P Morgan Chase & Co to $47.00 and gave the stock a “buy” rating in a research report on Monday, April 17th. UBS AG reissued a “buy” rating and issued a $101.00 target price on shares of J P Morgan Chase & Co in a research report on Monday, May 15th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of J P Morgan Chase & Co in a research report on Monday, July 3rd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nineteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $85.43.
In other news, CFO Marianne Lake sold 17,596 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicole Giles sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 18th. The shares were 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 $345,350.07. The disclosure for this sale can be found here. Insiders sold 25,110 shares of company stock valued at $2,270,818 over the last three months. 0.85% of the stock is 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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