Signature Financial Management Inc. Raises Stake in J P Morgan Chase & Co (JPM)
Signature Financial Management Inc. lifted its position in J P Morgan Chase & Co (NYSE:JPM) by 18.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,030 shares of the financial services provider’s stock after acquiring an additional 2,690 shares during the quarter. Signature Financial Management Inc.’s holdings in J P Morgan Chase & Co were worth $1,556,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of JPM. Harbour Capital Advisors LLC grew its position in shares of J P Morgan Chase & Co by 8,767.4% in the 2nd quarter. Harbour Capital Advisors LLC now owns 2,794,464 shares of the financial services provider’s stock worth $30,574,000 after acquiring an additional 2,762,950 shares in the last quarter. Karp Capital Management Corp acquired a new position in shares of J P Morgan Chase & Co in the 1st quarter worth approximately $140,124,000. State Street Corp grew its position in shares of 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 acquiring an additional 1,357,194 shares in the last quarter. Pioneer Investment Management Inc. grew its position 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 worth $650,272,000 after acquiring an additional 1,344,295 shares in the last quarter. Finally, Hexavest Inc. grew its position in shares of J P Morgan Chase & Co by 33,815.1% in the 2nd quarter. Hexavest Inc. now owns 904,516 shares of the financial services provider’s stock worth $82,673,000 after acquiring an additional 901,849 shares in the last quarter. Institutional investors own 78.97% of the company’s stock.
JPM has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on J P Morgan Chase & Co from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Royal Bank Of Canada restated a “buy” rating and set a $105.00 price objective on shares of J P Morgan Chase & Co in a research report on Wednesday. Keefe, Bruyette & Woods restated a “hold” rating on shares of J P Morgan Chase & Co in a research report on Wednesday, October 11th. Citigroup Inc. boosted their price objective on J P Morgan Chase & Co from $90.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, October 6th. Finally, Credit Suisse Group restated a “buy” rating and set a $110.00 price objective (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 issued a buy rating to the company. J P Morgan Chase & Co presently has a consensus rating of “Hold” and a consensus price target of $92.18.
In other news, General Counsel Stacey Friedman sold 9,968 shares of J P Morgan Chase & Co stock in a transaction on Monday, August 21st. The stock was sold at an average price of $90.55, for a total transaction of $902,602.40. Following the transaction, the general counsel now owns 10,527 shares in the company, valued at $953,219.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is owned by insiders.
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Shares of J P Morgan Chase & Co (NYSE:JPM) opened at $98.47 on Friday. The stock has a market capitalization of $340,692.38, a price-to-earnings ratio of 14.15, a PEG ratio of 2.13 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 52-week low of $77.29 and a 52-week high of $102.42.
J P Morgan Chase & Co (NYSE:JPM) last announced its earnings results on Thursday, October 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.09. The company had revenue of $25.33 billion for the quarter, compared to analyst estimates 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 in the previous year, the firm earned $1.58 earnings per share. research analysts anticipate 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 was paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, October 5th. This is a positive change from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.27%. J P Morgan Chase & Co’s payout ratio is 32.28%.
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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