Saturna Capital CORP Increases Position in J P Morgan Chase & Co (JPM)

Saturna Capital CORP boosted its holdings in shares of J P Morgan Chase & Co (NYSE:JPM) by 8.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,923 shares of the financial services provider’s stock after acquiring an additional 1,470 shares during the period. Saturna Capital CORP’s holdings in J P Morgan Chase & Co were worth $1,574,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp grew its stake in J P Morgan Chase & Co by 0.8% during the 1st quarter. State Street Corp now owns 170,534,760 shares of the financial services provider’s stock valued at $14,979,775,000 after acquiring an additional 1,357,194 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of J P Morgan Chase & Co by 3.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 11,817,131 shares of the financial services provider’s stock valued at $1,038,017,000 after buying an additional 430,584 shares during the period. Pioneer Investment Management Inc. grew its stake in shares of J P Morgan Chase & Co by 22.2% in the 1st quarter. Pioneer Investment Management Inc. now owns 7,402,919 shares of the financial services provider’s stock valued at $650,272,000 after buying an additional 1,344,295 shares during the period. Swedbank grew its stake in shares of J P Morgan Chase & Co by 19.0% in the 1st quarter. Swedbank now owns 5,261,038 shares of the financial services provider’s stock valued at $462,130,000 after buying an additional 840,518 shares during the period. Finally, State of Wisconsin Investment Board grew its stake in shares of J P Morgan Chase & Co by 11.1% in the 1st quarter. State of Wisconsin Investment Board now owns 3,359,176 shares of the financial services provider’s stock valued at $295,070,000 after buying an additional 336,848 shares during the period. 78.02% of the stock is owned by institutional investors.

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J P Morgan Chase & Co (NYSE:JPM) traded up 1.51% on Tuesday, hitting $91.15. 6,235,143 shares of the company were exchanged. J P Morgan Chase & Co has a 52-week low of $65.11 and a 52-week high of $95.22. The stock has a market cap of $320.71 billion, a PE ratio of 13.45 and a beta of 1.19. The firm has a 50 day moving average of $91.67 and a 200-day moving average of $88.99.

J P Morgan Chase & Co (NYSE:JPM) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.23. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the previous year, the company posted $1.55 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities analysts expect that J P Morgan Chase & Co will post $6.81 earnings per share for the current fiscal year.

In other news, General Counsel Stacey Friedman sold 9,968 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $90.55, for a total transaction of $902,602.40. Following the transaction, the general counsel now directly owns 10,527 shares of the company’s stock, valued at $953,219.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Marianne Lake sold 17,596 shares of the business’s stock in a transaction on Monday, July 17th. The stock was 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. Over the last three months, insiders have sold 28,564 shares of company stock worth $2,605,334. Corporate insiders own 0.88% of the company’s stock.

Several analysts have recently weighed in on JPM shares. Berenberg Bank set a $65.00 price target on shares of J P Morgan Chase & Co and gave the company a “sell” rating in a research note on Thursday, August 3rd. Wells Fargo & Company started coverage on shares of J P Morgan Chase & Co in a research note on Wednesday, August 9th. They issued an “outperform” rating and a $110.00 price target for the company. Deutsche Bank AG reissued a “buy” rating on shares of J P Morgan Chase & Co in a research note on Monday, July 3rd. Bank of America Corporation reissued a “buy” rating and issued a $99.00 price target on shares of J P Morgan Chase & Co in a research note on Monday, July 17th. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $93.00 price target on shares of J P Morgan Chase & Co in a research note on Thursday, July 6th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $85.59.

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

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