Wagner Bowman Management Corp boosted its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 13.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,424 shares of the financial services provider’s stock after buying an additional 1,716 shares during the period. Wagner Bowman Management Corp’s holdings in J P Morgan Chase & Co were worth $1,267,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of JPM. Norges Bank acquired a new position in shares of J P Morgan Chase & Co during the fourth quarter worth $2,897,377,000. Dodge & Cox acquired a new position in shares of J P Morgan Chase & Co during the fourth quarter worth $2,297,616,000. FMR LLC increased its position in shares of J P Morgan Chase & Co by 19.4% in the fourth quarter. FMR LLC now owns 96,587,143 shares of the financial services provider’s stock worth $8,334,505,000 after buying an additional 15,715,835 shares in the last quarter. State Street Corp increased its position in shares of J P Morgan Chase & Co by 7.5% in the fourth quarter. State Street Corp now owns 169,177,566 shares of the financial services provider’s stock worth $14,598,334,000 after buying an additional 11,844,085 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of J P Morgan Chase & Co by 1,138.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 6,754,863 shares of the financial services provider’s stock worth $582,667,000 after buying an additional 6,209,530 shares in the last quarter. 74.25% of the stock is owned by institutional investors.
Shares of J P Morgan Chase & Co (NYSE:JPM) opened at 91.39 on Tuesday. The company has a 50-day moving average price of $85.98 and a 200-day moving average price of $87.09. J P Morgan Chase & Co has a 12 month low of $63.38 and a 12 month high of $94.51. The firm has a market capitalization of $324.65 billion, a price-to-earnings ratio of 14.07 and a beta of 1.19.
J P Morgan Chase & Co (NYSE:JPM) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.23. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities analysts forecast that J P Morgan Chase & Co will post $6.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Thursday, July 6th will be issued a $0.50 dividend. The ex-dividend date is Monday, July 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 2.19%. J P Morgan Chase & Co’s payout ratio is presently 29.59%.
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A number of equities analysts have recently weighed in on JPM shares. Vetr upgraded J P Morgan Chase & Co from a “buy” rating to a “strong-buy” rating and set a $97.82 target price on the stock in a report on Wednesday, April 12th. Rafferty Capital Markets reiterated a “buy” rating and issued a $97.00 target price (up previously from $96.00) on shares of J P Morgan Chase & Co in a report on Tuesday, March 21st. Vining Sparks upgraded J P Morgan Chase & Co to an “outperform” rating and set a $95.00 price objective on the stock in a report on Thursday, April 27th. Barclays PLC restated an “overweight” rating and issued a $100.00 price objective on shares of J P Morgan Chase & Co in a report on Monday, March 20th. Finally, Nomura restated a “neutral” rating and issued a $83.00 price objective on shares of J P Morgan Chase & Co in a report on Monday, April 17th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $84.75.
In other news, Director James S. Crown bought 11,500 shares of the stock in a transaction on Wednesday, April 19th. The stock was acquired at an average price of $85.48 per share, with a total value of $983,020.00. Following the acquisition, the director now directly owns 299,862 shares in the company, valued at $25,632,203.76. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Marianne Lake sold 17,596 shares of the company’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $91.58, for a total value of $1,611,441.68. The disclosure for this sale can be found here. 0.85% of the stock is owned by corporate 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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