Wedgewood Investors Inc. PA held its position in J P Morgan Chase & Co (NYSE:JPM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,294 shares of the financial services provider’s stock at the end of the 2nd quarter. Wedgewood Investors Inc. PA’s holdings in J P Morgan Chase & Co were worth $301,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Oakworth Capital Inc. increased its holdings in J P Morgan Chase & Co by 3.4% during the second quarter. Oakworth Capital Inc. now owns 99,819 shares of the financial services provider’s stock worth $9,123,000 after buying an additional 3,294 shares during the last quarter. Sei Investments Co. increased its holdings in J P Morgan Chase & Co by 3.4% during the second quarter. Sei Investments Co. now owns 2,020,496 shares of the financial services provider’s stock worth $184,673,000 after buying an additional 66,071 shares during the last quarter. Kanawha Capital Management LLC increased its holdings in J P Morgan Chase & Co by 0.7% during the second quarter. Kanawha Capital Management LLC now owns 116,125 shares of the financial services provider’s stock worth $10,614,000 after buying an additional 830 shares during the last quarter. Weybosset Research & Management LLC increased its holdings in J P Morgan Chase & Co by 3.2% during the second quarter. Weybosset Research & Management LLC now owns 3,515 shares of the financial services provider’s stock worth $321,000 after buying an additional 109 shares during the last quarter. Finally, Foster & Motley Inc. increased its holdings in J P Morgan Chase & Co by 2.7% during the second quarter. Foster & Motley Inc. now owns 95,714 shares of the financial services provider’s stock worth $8,748,000 after buying an additional 2,480 shares during the last quarter. Institutional investors own 77.86% of the company’s stock.

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

J P Morgan Chase & Co (NYSE:JPM) opened at 101.41 on Tuesday. The company has a market capitalization of $358.45 billion, a PE ratio of 14.61 and a beta of 1.18. The company has a 50 day moving average price of $96.21 and a 200-day moving average price of $90.83. J P Morgan Chase & Co has a one year low of $67.64 and a one year high of $102.42.

J P Morgan Chase & Co (NYSE:JPM) last issued its quarterly earnings results on Thursday, October 12th. The financial services provider reported $1.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.09. J P Morgan Chase & Co had a return on equity of 11.68% and a net margin of 24.08%. The company had revenue of $25.33 billion for the quarter, compared to analysts’ expectations of $24.91 billion. During the same period in the prior year, the firm earned $1.58 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts expect that J P Morgan Chase & Co will post $6.91 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 2.21%. This is an increase from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, October 5th. J P Morgan Chase & Co’s payout ratio is 32.28%.

A number of brokerages recently weighed in on JPM. Keefe, Bruyette & Woods restated a “hold” rating on shares of J P Morgan Chase & Co in a report on Wednesday, October 11th. Deutsche Bank AG downgraded shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating and upped their price objective for the company from $90.00 to $96.00 in a report on Tuesday, September 26th. Robert W. Baird reiterated a “hold” rating and issued a $88.00 price objective on shares of J P Morgan Chase & Co in a report on Thursday, September 21st. 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. Finally, BidaskClub upgraded shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Three 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 company presently has a consensus rating of “Hold” and an average price target of $91.83.

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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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