Macnealy Hoover Investment Management Inc. Sells 225 Shares of J P Morgan Chase & Co (JPM)

Macnealy Hoover Investment Management Inc. decreased its stake in shares of J P Morgan Chase & Co (NYSE:JPM) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,523 shares of the financial services provider’s stock after selling 225 shares during the period. J P Morgan Chase & Co accounts for approximately 1.5% of Macnealy Hoover Investment Management Inc.’s portfolio, making the stock its 20th largest position. Macnealy Hoover Investment Management Inc.’s holdings in J P Morgan Chase & Co were worth $1,967,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in JPM. Pacific Center for Financial Services acquired a new stake in shares of J P Morgan Chase & Co during the fourth quarter valued at $106,000. Thomas J. Herzfeld Advisors Inc. acquired a new stake in shares of J P Morgan Chase & Co during the fourth quarter valued at $125,000. Glacier Peak Capital LLC acquired a new stake in shares of J P Morgan Chase & Co during the fourth quarter valued at $129,000. 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 valued at $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 valued at $145,000 after buying an additional 78 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

J P Morgan Chase & Co (NYSE:JPM) traded down 0.46% on Wednesday, reaching $93.25. 5,883,430 shares of the company’s stock traded hands. The firm has a market capitalization of $328.15 billion, a PE ratio of 13.76 and a beta of 1.19. J P Morgan Chase & Co has a 52-week low of $64.86 and a 52-week high of $94.51. The firm’s 50 day moving average price is $91.05 and its 200 day moving average price is $88.16.

J P Morgan Chase & Co (NYSE:JPM) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.23. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The company had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the prior year, the firm earned $1.55 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year. On average, analysts predict that J P Morgan Chase & Co will post $6.81 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Thursday, July 6th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Monday, July 3rd. J P Morgan Chase & Co’s dividend payout ratio is 29.59%.

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Several brokerages have recently weighed in on JPM. BidaskClub upgraded J P Morgan Chase & Co from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Keefe, Bruyette & Woods raised their target price on J P Morgan Chase & Co to $47.00 and gave the company a “buy” rating in a research note on Monday, April 17th. Vetr downgraded J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $97.41 target price for the company. in a research note on Monday, June 12th. Vining Sparks upgraded J P Morgan Chase & Co to an “outperform” rating and set a $95.00 target price for the company in a research note on Thursday, April 27th. Finally, Zacks Investment Research downgraded 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 assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $84.71.

In other news, insider Nicole Giles sold 1,000 shares of the stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $91.29, for a total transaction of $91,290.00. Following the completion of the sale, the insider now owns 3,783 shares of the company’s stock, valued at $345,350.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ashley Bacon sold 6,514 shares of the stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $87.21, for a total transaction of $568,085.94. Following the sale, the insider now directly owns 47,384 shares of the company’s stock, valued at approximately $4,132,358.64. The disclosure for this sale can be found here. Insiders have sold 25,110 shares of company stock valued at $2,270,818 in the last three months. 0.85% of the stock is owned by 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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Institutional Ownership by Quarter for J P Morgan Chase & Co (NYSE:JPM)

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