Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Reduces Position in J P Morgan Chase & Co (JPM)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lessened its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 8.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 864,679 shares of the financial services provider’s stock after selling 77,470 shares during the quarter. J P Morgan Chase & Co makes up 1.9% of Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings, making the stock its 3rd biggest position. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in J P Morgan Chase & Co were worth $79,032,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Partnervest Advisory Services LLC grew its position in shares of J P Morgan Chase & Co by 1.9% in the second quarter. Partnervest Advisory Services LLC now owns 22,000 shares of the financial services provider’s stock valued at $2,011,000 after purchasing an additional 411 shares during the period. National Planning Corp grew its position in shares of J P Morgan Chase & Co by 6.0% in the second quarter. National Planning Corp now owns 34,635 shares of the financial services provider’s stock valued at $3,212,000 after purchasing an additional 1,957 shares during the period. New Jersey Better Educational Savings Trust grew its position in shares of J P Morgan Chase & Co by 10.7% in the second quarter. New Jersey Better Educational Savings Trust now owns 31,000 shares of the financial services provider’s stock valued at $2,833,000 after purchasing an additional 3,000 shares during the period. Davis Rea Ltd. grew its position in shares of J P Morgan Chase & Co by 0.6% in the second quarter. Davis Rea Ltd. now owns 21,872 shares of the financial services provider’s stock valued at $1,999,000 after purchasing an additional 130 shares during the period. Finally, Stearns Financial Services Group grew its position in shares of J P Morgan Chase & Co by 4.3% in the second quarter. Stearns Financial Services Group now owns 16,047 shares of the financial services provider’s stock valued at $1,467,000 after purchasing an additional 657 shares during the period. Institutional investors own 77.94% of the company’s stock.

In related news, General Counsel Stacey Friedman sold 2,099 shares of J P Morgan Chase & Co stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $101.96, for a total value of $214,014.04. Following the completion of the transaction, the general counsel now owns 15,279 shares in the company, valued at $1,557,846.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.88% of the company’s stock.

Several analysts have recently issued reports on the stock. Wells Fargo & Company lifted their target price on shares of J P Morgan Chase & Co from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of J P Morgan Chase & Co in a research report on Wednesday, October 11th. Citigroup Inc. lifted their target price on shares of J P Morgan Chase & Co from $90.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, October 6th. Credit Suisse Group reiterated a “buy” rating and issued a $110.00 target price (up previously from $103.00) on shares of J P Morgan Chase & Co in a research report on Monday, October 9th. They noted that the move was a valuation call. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of J P Morgan Chase & Co in a research report on Thursday, October 12th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $91.83.

TRADEMARK VIOLATION NOTICE: “Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Reduces Position in J P Morgan Chase & Co (JPM)” was posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this article on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The legal version of this article can be accessed at https://sportsperspectives.com/2017/11/12/mitsubishi-ufj-kokusai-asset-management-co-ltd-reduces-position-in-j-p-morgan-chase-co-jpm.html.

J P Morgan Chase & Co (NYSE JPM) opened at $97.51 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.37. The firm has a market cap of $338,333.00, a P/E ratio of 14.05, a P/E/G ratio of 2.12 and a beta of 1.22. J P Morgan Chase & Co has a twelve month low of $75.77 and a twelve month high of $102.42.

J P Morgan Chase & Co (NYSE:JPM) last announced its quarterly earnings data on Thursday, October 12th. The financial services provider reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.09. The firm had revenue of $25.33 billion during the quarter, compared to analysts’ expectations of $24.91 billion. J P Morgan Chase & Co had a net margin of 24.08% and a return on equity of 11.68%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.58 earnings per share. research analysts expect that J P Morgan Chase & Co will post 6.91 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 6th were issued a $0.56 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. J P Morgan Chase & Co’s payout ratio is 32.28%.

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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for J P Morgan Chase & Co (NYSE:JPM).

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

Receive News & Ratings for J P Morgan Chase & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J P Morgan Chase & Co and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply