Plancorp LLC Grows Position in J P Morgan Chase & Co (JPM)

Plancorp LLC increased its position in J P Morgan Chase & Co (NYSE:JPM) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,389 shares of the financial services provider’s stock after buying an additional 185 shares during the period. Plancorp LLC’s holdings in J P Morgan Chase & Co were worth $586,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in J P Morgan Chase & Co by 0.8% in 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 during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in J P Morgan Chase & Co by 3.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 11,817,131 shares of the financial services provider’s stock worth $1,038,017,000 after buying an additional 430,584 shares during the last quarter. Pioneer Investment Management Inc. increased its holdings in J P Morgan Chase & Co by 22.2% in the first quarter. Pioneer Investment Management Inc. now owns 7,402,919 shares of the financial services provider’s stock worth $650,272,000 after buying an additional 1,344,295 shares during the last quarter. Swedbank increased its holdings in J P Morgan Chase & Co by 19.0% in the first quarter. Swedbank now owns 5,261,038 shares of the financial services provider’s stock worth $462,130,000 after buying an additional 840,518 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in J P Morgan Chase & Co by 7.2% in the second quarter. Acadian Asset Management LLC now owns 4,008,721 shares of the financial services provider’s stock worth $366,398,000 after buying an additional 268,722 shares during the last quarter. Hedge funds and other institutional investors own 77.90% of the company’s stock.

Shares of J P Morgan Chase & Co (NYSE JPM) traded down 0.18% on Friday, hitting $96.92. The company’s stock had a trading volume of 11,061,791 shares. The firm has a market cap of $341.06 billion, a price-to-earnings ratio of 14.32 and a beta of 1.18. J P Morgan Chase & Co has a 52 week low of $66.74 and a 52 week high of $97.64. The stock’s 50-day moving average price is $92.72 and its 200-day moving average price is $89.44.

J P Morgan Chase & Co (NYSE:JPM) last issued its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.23. The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates 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 for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.55 EPS. Equities analysts expect that J P Morgan Chase & Co will post $6.80 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.31%. This is an increase from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, October 5th. J P Morgan Chase & Co’s dividend payout ratio is presently 33.14%.

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In other news, General Counsel Stacey Friedman sold 9,968 shares of the company’s 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 completion of the sale, the general counsel now directly owns 10,527 shares in the company, valued at approximately $953,219.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Marianne Lake sold 17,596 shares of the company’s stock in a transaction on Monday, July 17th. The shares were 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. Over the last quarter, insiders have sold 28,564 shares of company stock valued at $2,605,334. Corporate insiders own 0.88% of the company’s stock.

JPM has been the topic of a number of research reports. Wells Fargo & Company initiated coverage on J P Morgan Chase & Co in a report on Wednesday, August 9th. They issued an “outperform” rating and a $110.00 price objective on the stock. Vetr upgraded J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $93.14 price objective on the stock in a report on Wednesday, September 6th. Zacks Investment Research upgraded J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a report on Tuesday, July 18th. Jefferies Group LLC reiterated a “buy” rating and set a $102.00 price target on shares of J P Morgan Chase & Co in a report on Friday, September 15th. Finally, Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of J P Morgan Chase & Co in a report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and seventeen have given a buy rating to the company. J P Morgan Chase & Co currently has an average rating of “Hold” and an average price target of $88.64.

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.

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

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