Beacon Financial Group Purchases 921 Shares of J P Morgan Chase & Co (JPM)

Beacon Financial Group increased its position in J P Morgan Chase & Co (NYSE:JPM) by 17.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,082 shares of the financial services provider’s stock after acquiring an additional 921 shares during the quarter. Beacon Financial Group’s holdings in J P Morgan Chase & Co were worth $581,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in J P Morgan Chase & Co by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 249,887,622 shares of the financial services provider’s stock worth $22,839,729,000 after purchasing an additional 3,717,683 shares during the period. State Street Corp boosted its stake in J P Morgan Chase & Co by 0.8% in the 1st quarter. State Street Corp now owns 170,534,760 shares of the financial services provider’s stock worth $14,979,775,000 after purchasing an additional 1,357,194 shares during the period. Northern Trust Corp boosted its stake in J P Morgan Chase & Co by 1.8% in the 2nd quarter. Northern Trust Corp now owns 48,965,734 shares of the financial services provider’s stock worth $4,475,468,000 after purchasing an additional 847,463 shares during the period. Capital Research Global Investors boosted its stake in J P Morgan Chase & Co by 2.5% in the 2nd quarter. Capital Research Global Investors now owns 31,714,763 shares of the financial services provider’s stock worth $2,898,729,000 after purchasing an additional 765,082 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in J P Morgan Chase & Co by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 28,683,523 shares of the financial services provider’s stock worth $2,621,677,000 after purchasing an additional 176,306 shares during the period. Institutional investors and hedge funds own 73.93% of the company’s stock.

Several research analysts have commented on JPM shares. Bank of America set a $102.00 target price on J P Morgan Chase & Co and gave the stock a “buy” rating in a research note on Friday, October 13th. Oppenheimer reiterated a “hold” rating on shares of J P Morgan Chase & Co in a research report on Thursday, October 12th. Jefferies Group reiterated a “buy” rating and set a $102.00 price target on shares of J P Morgan Chase & Co in a research report on Friday, September 15th. Royal Bank of Canada reiterated a “buy” rating on shares of J P Morgan Chase & Co in a research report on Friday, December 8th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $110.00 price target (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. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company. J P Morgan Chase & Co has an average rating of “Hold” and a consensus target price of $92.18.

J P Morgan Chase & Co (NYSE JPM) opened at $106.14 on Monday. The firm has a market capitalization of $368,276.72, a PE ratio of 15.29, a P/E/G ratio of 2.30 and a beta of 1.22. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.37. J P Morgan Chase & Co has a 1-year low of $81.64 and a 1-year high of $108.40.

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 the Zacks’ consensus estimate of $1.67 by $0.09. The company had revenue of $25.33 billion for the quarter, compared to analysts’ expectations of $24.91 billion. J P Morgan Chase & Co had a return on equity of 11.68% and a net margin of 24.08%. J P Morgan Chase & Co’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $1.58 EPS. research analysts anticipate that J P Morgan Chase & Co will post 6.91 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 5th will be issued a dividend of $0.56 per share. The ex-dividend date is Thursday, January 4th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.11%. J P Morgan Chase & Co’s dividend payout ratio is 32.28%.

In related news, General Counsel Stacey Friedman sold 2,099 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $101.96, for a total transaction of $214,014.04. Following the transaction, the general counsel now directly owns 15,279 shares of the company’s stock, valued at approximately $1,557,846.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.88% of the company’s stock.

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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.

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

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