Traders Buy J P Morgan Chase & Co (JPM) on Weakness

Investors bought shares of J P Morgan Chase & Co (NYSE:JPM) on weakness during trading on Friday. $211.05 million flowed into the stock on the tick-up and $128.42 million flowed out of the stock on the tick-down, for a money net flow of $82.63 million into the stock. Of all companies tracked, J P Morgan Chase & Co had the 3rd highest net in-flow for the day. J P Morgan Chase & Co traded down ($0.17) for the day and closed at $96.92

Several equities analysts have commented on JPM shares. Buckingham Research reissued a “neutral” rating and set a $100.00 price objective (up previously from $94.00) on shares of J P Morgan Chase & Co in a research report on Monday, July 10th. Bank of America Corporation reissued an “outperform” rating and set a $99.00 price objective on shares of J P Morgan Chase & Co in a research report on Wednesday, June 21st. Keefe, Bruyette & Woods set a $96.00 price objective on J P Morgan Chase & Co and gave the company a “hold” rating in a research report on Saturday, August 19th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $93.00 price objective on shares of J P Morgan Chase & Co in a research report on Thursday, July 6th. Finally, Vetr lowered J P Morgan Chase & Co from a “buy” rating to a “hold” rating and set a $93.14 price objective for the company. in a research report on Tuesday, September 12th. Three research 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’s stock. J P Morgan Chase & Co currently has a consensus rating of “Hold” and a consensus target price of $88.64.

The stock’s 50 day moving average price is $92.72 and its 200-day moving average price is $89.44. The stock has a market capitalization of $341.01 billion, a price-to-earnings ratio of 14.30 and a beta of 1.18.

J P Morgan Chase & Co (NYSE:JPM) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.23. The business 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 was up 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.55 earnings per share. Analysts anticipate that J P Morgan Chase & Co will post $6.80 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This is a positive change from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.31%. J P Morgan Chase & Co’s dividend payout ratio is currently 33.14%.

In related 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 transaction of $91,290.00. Following the sale, the insider now directly owns 3,783 shares of the company’s stock, valued at $345,350.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 9,968 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $90.55, for a total value of $902,602.40. Following the sale, the general counsel now directly owns 10,527 shares in the company, valued at $953,219.85. The disclosure for this sale can be found here. Over the last ninety days, 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 institutional investors have recently bought and sold shares of the stock. Jackson Grant Investment Advisers Inc. grew its holdings in J P Morgan Chase & Co by 0.4% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 3,289 shares of the financial services provider’s stock worth $301,000 after acquiring an additional 12 shares during the period. IPG Investment Advisors LLC grew its holdings in J P Morgan Chase & Co by 0.3% during the second quarter. IPG Investment Advisors LLC now owns 6,654 shares of the financial services provider’s stock worth $608,000 after acquiring an additional 17 shares during the period. BSW Wealth Partners grew its holdings in J P Morgan Chase & Co by 0.5% during the first quarter. BSW Wealth Partners now owns 4,889 shares of the financial services provider’s stock worth $429,000 after acquiring an additional 26 shares during the period. Sunbelt Securities Inc. grew its holdings in J P Morgan Chase & Co by 0.5% during the second quarter. Sunbelt Securities Inc. now owns 5,128 shares of the financial services provider’s stock worth $469,000 after acquiring an additional 26 shares during the period. Finally, Financial Advisory Service Inc. grew its holdings in J P Morgan Chase & Co by 0.7% during the first quarter. Financial Advisory Service Inc. now owns 5,028 shares of the financial services provider’s stock worth $442,000 after acquiring an additional 36 shares during the period. 77.90% of the stock is currently owned by hedge funds and other institutional investors.

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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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