Traders Buy Shares of J P Morgan Chase & Co (NYSE:JPM) on Weakness

Investors purchased shares of J P Morgan Chase & Co (NYSE:JPM) on weakness during trading on Wednesday. $207.13 million flowed into the stock on the tick-up and $168.77 million flowed out of the stock on the tick-down, for a money net flow of $38.36 million into the stock. Of all stocks tracked, J P Morgan Chase & Co had the 14th highest net in-flow for the day. J P Morgan Chase & Co traded down ($0.15) for the day and closed at $93.53

Several analysts have commented on JPM shares. Vetr upgraded shares of 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. Vining Sparks upgraded shares of J P Morgan Chase & Co to an “outperform” rating and set a $95.00 target price on the stock in a report on Thursday, April 27th. Zacks Investment Research upgraded shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a report on Tuesday, July 18th. Bank of America Corporation restated an “outperform” rating and set a $99.00 target price on shares of J P Morgan Chase & Co in a report on Wednesday, June 21st. Finally, Credit Suisse Group dropped their target price on shares of J P Morgan Chase & Co from $102.00 to $99.00 and set an “outperform” rating on the stock in a report on Thursday, June 29th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have given a buy rating to the company’s stock. J P Morgan Chase & Co currently has a consensus rating of “Hold” and a consensus target price of $84.71.

The stock’s 50 day moving average price is $91.05 and its 200 day moving average price is $88.16. The firm has a market capitalization of $329.13 billion, a P/E ratio of 13.80 and a beta of 1.19.

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

The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Thursday, July 6th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, July 3rd. This represents a $2.00 annualized dividend and a yield of 2.14%. J P Morgan Chase & Co’s dividend payout ratio is currently 29.59%.

In other J P Morgan Chase & Co news, insider Nicole Giles sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $91.29, for a total value of $91,290.00. Following the completion of the transaction, the insider now owns 3,783 shares in the company, valued at approximately $345,350.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ashley Bacon sold 6,514 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $87.21, for a total value of $568,085.94. Following the completion of the transaction, the insider now owns 47,384 shares of the company’s stock, valued at approximately $4,132,358.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,110 shares of company stock valued at $2,270,818. 0.85% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of JPM. Jackson Grant Investment Advisers Inc. increased its position in shares of J P Morgan Chase & Co by 0.5% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 2,566 shares of the financial services provider’s stock valued at $221,000 after buying an additional 14 shares in the last quarter. IPG Investment Advisors LLC increased its stake in shares of J P Morgan Chase & Co by 0.3% in the second quarter. IPG Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock worth $608,000 after buying an additional 17 shares during the period. Paradigm Financial Advisors LLC increased its stake in shares of J P Morgan Chase & Co by 0.3% in the first quarter. Paradigm Financial Advisors LLC now owns 6,805 shares of the financial services provider’s stock worth $597,000 after buying an additional 21 shares during the period. Asset Management Group Inc. increased its stake in shares of J P Morgan Chase & Co by 0.7% in the fourth quarter. Asset Management Group Inc. now owns 3,184 shares of the financial services provider’s stock worth $275,000 after buying an additional 22 shares during the period. Finally, BSW Wealth Partners increased its stake in shares of J P Morgan Chase & Co by 0.5% in the first quarter. BSW Wealth Partners now owns 4,889 shares of the financial services provider’s stock worth $429,000 after buying an additional 26 shares during the period. Institutional investors and hedge funds own 74.06% 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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