Grassi Investment Management Buys 2,726 Shares of J P Morgan Chase & Co (JPM)

Grassi Investment Management increased its stake in shares of J P Morgan Chase & Co (NYSE:JPM) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,494 shares of the financial services provider’s stock after buying an additional 2,726 shares during the period. J P Morgan Chase & Co accounts for about 2.0% of Grassi Investment Management’s investment portfolio, making the stock its 6th largest position. Grassi Investment Management’s holdings in J P Morgan Chase & Co were worth $11,470,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Castleark Management LLC raised its stake in shares of J P Morgan Chase & Co by 88.5% in the fourth quarter. Castleark Management LLC now owns 88,400 shares of the financial services provider’s stock worth $7,628,000 after buying an additional 41,500 shares during the period. Sustainable Insight Capital Management LLC purchased a new position in shares of J P Morgan Chase & Co during the fourth quarter valued at approximately $2,131,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of J P Morgan Chase & Co during the fourth quarter valued at approximately $393,160,000. Lebenthal Asset Management LLC raised its position in shares of J P Morgan Chase & Co by 0.6% in the fourth quarter. Lebenthal Asset Management LLC now owns 79,582 shares of the financial services provider’s stock valued at $6,867,000 after buying an additional 470 shares during the last quarter. Finally, RB Capital Management LLC purchased a new position in shares of J P Morgan Chase & Co during the fourth quarter valued at approximately $399,000. Institutional investors and hedge funds own 74.84% of the company’s stock.

Shares of J P Morgan Chase & Co (JPM) traded up 0.789% during mid-day trading on Tuesday, hitting $91.345. The company’s stock had a trading volume of 4,004,811 shares. J P Morgan Chase & Co has a 1-year low of $65.11 and a 1-year high of $95.22. The company has a 50-day moving average price of $92.30 and a 200-day moving average price of $88.80. The stock has a market cap of $321.40 billion, a PE ratio of 13.475 and a beta of 1.19.

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

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JPM has been the subject of several research reports. Berenberg Bank set a $65.00 target price on J P Morgan Chase & Co and gave the stock a “sell” rating in a research report on Thursday, August 3rd. Deutsche Bank AG reiterated a “buy” rating on shares of J P Morgan Chase & Co in a research report on Monday, July 3rd. Bank of America Corporation reiterated a “buy” rating and issued a $99.00 target price on shares of J P Morgan Chase & Co in a research report on Monday, July 17th. Wells Fargo & Company initiated coverage on J P Morgan Chase & Co in a research report on Wednesday, August 9th. They issued an “outperform” rating and a $110.00 target price for the company. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $93.00 target price on shares of J P Morgan Chase & Co in a research report on Thursday, July 6th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have issued a buy rating to the stock. J P Morgan Chase & Co has an average rating of “Hold” and an average target price of $85.66.

In related news, insider Nicole Giles sold 1,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $345,350.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marianne Lake sold 17,596 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $91.58, for a total transaction of $1,611,441.68. The disclosure for this sale can be found here. Insiders sold a total of 28,564 shares of company stock valued at $2,605,334 in the last 90 days. 0.88% of the stock is owned by corporate insiders.

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.

Institutional Ownership by Quarter for J P Morgan Chase & Co (NYSE:JPM)

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