J P Morgan Chase & Co (JPM) Given “Buy” Rating at Jefferies Group LLC

Jefferies Group LLC restated their buy rating on shares of J P Morgan Chase & Co (NYSE:JPM) in a report released on Friday morning. Jefferies Group LLC currently has a $102.00 target price on the financial services provider’s stock.

A number of other research analysts have also recently issued reports on JPM. Vetr cut J P Morgan Chase & Co from a buy rating to a hold rating and set a $93.14 target price for the company. in a research note on Tuesday. Instinet reissued a neutral rating and issued a $84.00 target price (down from $87.00) on shares of J P Morgan Chase & Co in a research note on Saturday, June 3rd. Royal Bank Of Canada reissued a buy rating and issued a $95.00 target price on shares of J P Morgan Chase & Co in a research note on Friday, August 18th. BidaskClub cut J P Morgan Chase & Co from a buy rating to a hold rating in a research note on Wednesday, July 12th. Finally, Berenberg Bank set a $65.00 target price on J P Morgan Chase & Co and gave the company a sell rating in a research note on Thursday, August 3rd. Three 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. The company currently has a consensus rating of Hold and an average price target of $85.84.

Shares of J P Morgan Chase & Co (NYSE:JPM) traded up 0.71% during midday trading on Friday, reaching $91.62. The company’s stock had a trading volume of 18,171,794 shares. J P Morgan Chase & Co has a 12 month low of $65.11 and a 12 month high of $95.22. The company has a market cap of $322.36 billion, a price-to-earnings ratio of 13.52 and a beta of 1.19. The stock has a 50-day moving average of $91.54 and a 200 day moving average of $89.03.

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

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In related news, General Counsel Stacey Friedman sold 9,968 shares of the 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 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 is available at this link. Also, CFO Marianne Lake sold 17,596 shares of the 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. In the last quarter, insiders have sold 28,564 shares of company stock worth $2,605,334. 0.88% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in J P Morgan Chase & Co by 1.5% during the second quarter. Vanguard Group Inc. now owns 249,887,622 shares of the financial services provider’s stock worth $22,839,729,000 after buying an additional 3,717,683 shares in the last quarter. State Street Corp grew its position in J P Morgan Chase & Co by 0.8% during the first quarter. State Street Corp now owns 170,534,760 shares of the financial services provider’s stock worth $14,979,775,000 after buying an additional 1,357,194 shares in the last quarter. Northern Trust Corp grew its position in J P Morgan Chase & Co by 1.8% during the second quarter. Northern Trust Corp now owns 48,965,734 shares of the financial services provider’s stock worth $4,475,468,000 after buying an additional 847,463 shares in the last quarter. Capital Research Global Investors grew its position in J P Morgan Chase & Co by 2.5% during the second quarter. Capital Research Global Investors now owns 31,714,763 shares of the financial services provider’s stock worth $2,898,729,000 after buying an additional 765,082 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in J P Morgan Chase & Co by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 28,683,523 shares of the financial services provider’s stock worth $2,621,677,000 after buying an additional 176,306 shares in the last quarter. 78.02% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for J P Morgan Chase & Co (NYSE:JPM)

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