Aldebaran Financial Inc. lowered its stake in shares of J P Morgan Chase & Co (NYSE:JPM) by 7.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,578 shares of the financial services provider’s stock after selling 421 shares during the quarter. Aldebaran Financial Inc.’s holdings in J P Morgan Chase & Co were worth $510,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Atlantic Trust LLC acquired a new position in J P Morgan Chase & Co in the second quarter worth $136,000. Northwest Investment Counselors LLC acquired a new position in J P Morgan Chase & Co in the second quarter worth $165,000. Capital Advisors Ltd. LLC boosted its holdings in J P Morgan Chase & Co by 53.0% in the second quarter. Capital Advisors Ltd. LLC now owns 1,935 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 670 shares during the period. Tortoise Investment Management LLC boosted its holdings in J P Morgan Chase & Co by 59.5% in the second quarter. Tortoise Investment Management LLC now owns 1,959 shares of the financial services provider’s stock worth $179,000 after purchasing an additional 731 shares during the period. Finally, Tanaka Capital Management Inc. boosted its holdings in J P Morgan Chase & Co by 15.3% in the second quarter. Tanaka Capital Management Inc. now owns 1,994 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 264 shares during the period. 73.93% of the stock is owned by institutional investors and hedge funds.
In related news, General Counsel Stacey Friedman sold 2,099 shares of J P Morgan Chase & Co stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $101.96, for a total transaction of $214,014.04. Following the sale, the general counsel now directly owns 15,279 shares in the company, valued at $1,557,846.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.88% of the stock is owned by insiders.
J P Morgan Chase & Co (NYSE:JPM) last issued 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. J P Morgan Chase & Co had a net margin of 24.08% and a return on equity of 11.68%. The business had revenue of $25.33 billion for the quarter, compared to analysts’ expectations of $24.91 billion. During the same period in the previous year, the business earned $1.58 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. research analysts predict that J P Morgan Chase & Co will post 6.91 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 5th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, January 4th. J P Morgan Chase & Co’s dividend payout ratio is currently 32.28%.
JPM has been the subject of a number of research reports. Wells Fargo & Company lifted their price objective on shares of J P Morgan Chase & Co from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Vetr raised shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $93.14 price objective for the company in a report on Wednesday, September 6th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $105.00 price objective on shares of J P Morgan Chase & Co in a report on Wednesday, November 15th. Jefferies Group reissued a “buy” rating and set a $102.00 price target on shares of J P Morgan Chase & Co in a report on Friday, September 15th. Finally, Zacks Investment Research downgraded shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $92.18.
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J P Morgan Chase & Co 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.
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