Gareth Morgan Investments Limited Partnership Has $20.58 Million Position in J P Morgan Chase & Co (JPM)

Gareth Morgan Investments Limited Partnership reduced its position in J P Morgan Chase & Co (NYSE:JPM) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 225,143 shares of the financial services provider’s stock after selling 1,914 shares during the period. J P Morgan Chase & Co comprises approximately 1.9% of Gareth Morgan Investments Limited Partnership’s holdings, making the stock its 3rd largest position. Gareth Morgan Investments Limited Partnership’s holdings in J P Morgan Chase & Co were worth $20,578,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IPG Investment Advisors LLC grew its position in J P Morgan Chase & Co by 0.3% in the 2nd quarter. IPG Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock worth $608,000 after purchasing an additional 17 shares during the period. BSW Wealth Partners grew its position in shares of J P Morgan Chase & Co by 0.5% during the 1st quarter. BSW Wealth Partners now owns 4,889 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 26 shares during the period. Keel Point LLC grew its position in shares of J P Morgan Chase & Co by 1.1% during the 1st quarter. Keel Point LLC now owns 3,365 shares of the financial services provider’s stock valued at $296,000 after acquiring an additional 36 shares during the period. Financial Advisory Service Inc. grew its position in shares of J P Morgan Chase & Co by 0.7% during the 1st quarter. Financial Advisory Service Inc. now owns 5,028 shares of the financial services provider’s stock valued at $442,000 after acquiring an additional 36 shares during the period. Finally, Financial Consulate Inc. grew its position in shares of J P Morgan Chase & Co by 1.1% during the 2nd quarter. Financial Consulate Inc. now owns 4,075 shares of the financial services provider’s stock valued at $372,000 after acquiring an additional 44 shares during the period. Institutional investors own 73.93% of the company’s stock.

A number of equities research analysts have recently issued reports on JPM shares. Wells Fargo & Company started coverage on shares of J P Morgan Chase & Co in a research report on Wednesday, August 9th. They set an “outperform” rating and a $110.00 price objective for the company. Bank of America set a $102.00 price objective on shares of J P Morgan Chase & Co and gave the company a “buy” rating in a research report on Friday, October 13th. Jefferies Group reissued a “buy” rating and set a $102.00 price objective on shares of J P Morgan Chase & Co in a research report on Friday, September 15th. Oppenheimer reissued a “hold” rating on shares of J P Morgan Chase & Co in a research report on Thursday, October 12th. Finally, Credit Suisse Group reissued 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 investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the stock. J P Morgan Chase & Co has an average rating of “Hold” and a consensus price target of $92.18.

In related news, General Counsel Stacey Friedman sold 2,099 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $101.96, for a total transaction of $214,014.04. Following the transaction, the general counsel now directly owns 15,279 shares in the company, valued at approximately $1,557,846.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Shares of J P Morgan Chase & Co (NYSE JPM) traded down $0.79 during midday trading on Thursday, hitting $104.93. 15,476,200 shares of the stock traded hands, compared to its average volume of 14,010,543. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $366,819.41, a PE ratio of 15.23, a price-to-earnings-growth ratio of 2.29 and a beta of 1.22. J P Morgan Chase & Co has a 52-week low of $81.64 and a 52-week high of $108.40.

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, beating the consensus estimate of $1.67 by $0.09. The firm had revenue of $25.33 billion for the quarter, compared to analysts’ expectations of $24.91 billion. J P Morgan Chase & Co had a net margin of 24.08% and a return on equity of 11.68%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.58 EPS. equities analysts forecast that J P Morgan Chase & Co will post 6.91 EPS for the current fiscal year.

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

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