Benin Management CORP grew its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 3.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,501 shares of the financial services provider’s stock after buying an additional 700 shares during the quarter. J P Morgan Chase & Co accounts for 0.7% of Benin Management CORP’s investment portfolio, making the stock its 29th largest holding. Benin Management CORP’s holdings in J P Morgan Chase & Co were worth $1,691,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Pacific Center for Financial Services raised its position in J P Morgan Chase & Co by 14.5% during the 1st quarter. Pacific Center for Financial Services now owns 1,401 shares of the financial services provider’s stock worth $123,000 after buying an additional 177 shares during the last quarter. Horrell Capital Management Inc. raised its position in J P Morgan Chase & Co by 5.0% during the 1st quarter. Horrell Capital Management Inc. now owns 1,647 shares of the financial services provider’s stock worth $145,000 after buying an additional 78 shares during the last quarter. Ullmann Financial Group Inc. purchased a new position in J P Morgan Chase & Co during the 1st quarter worth $148,000. Northwest Investment Counselors LLC purchased a new position in J P Morgan Chase & Co during the 2nd quarter worth $165,000. Finally, Pecaut & CO. purchased a new position in J P Morgan Chase & Co during the 2nd quarter worth $201,000. Institutional investors own 77.90% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. BidaskClub upgraded shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Deutsche Bank AG reiterated a “buy” rating on shares of J P Morgan Chase & Co in a report on Monday, July 3rd. Vetr downgraded shares of J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $97.41 price target for the company. in a report on Monday, June 12th. Bank of America Corporation reiterated a “buy” rating and issued a $99.00 price target on shares of J P Morgan Chase & Co in a report on Monday, July 17th. Finally, Zacks Investment Research upgraded shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a report on Tuesday, July 18th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eighteen have issued a buy rating to the stock. J P Morgan Chase & Co has a consensus rating of “Hold” and an average price target of $85.84.
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J P Morgan Chase & Co (NYSE JPM) traded up 0.49% during mid-day trading on Thursday, hitting $95.06. 5,150,685 shares of the stock were exchanged. The stock has a market cap of $334.47 billion, a price-to-earnings ratio of 14.02 and a beta of 1.19. The company has a 50 day moving average price of $91.64 and a 200 day moving average price of $89.00. J P Morgan Chase & Co has a 52 week low of $65.11 and a 52 week high of $95.22.
J P Morgan Chase & Co (NYSE:JPM) last announced 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. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations 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 company’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.55 earnings per share. Analysts expect that J P Morgan Chase & Co will post $6.81 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 given a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $2.24 dividend on an annualized basis and a yield of 2.37%. This is a boost from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. J P Morgan Chase & Co’s dividend payout ratio is presently 29.59%.
In other J P Morgan Chase & Co news, General Counsel Stacey Friedman sold 9,968 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the general counsel now owns 10,527 shares of the company’s stock, valued at $953,219.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marianne Lake sold 17,596 shares of the company’s stock in a transaction that occurred on 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. Insiders have sold 28,564 shares of company stock valued at $2,605,334 in the last ninety days. Company insiders own 0.88% of the company’s stock.
J P Morgan Chase & Co 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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