Sheets Smith Wealth Management Lowers Position in J P Morgan Chase & Co (JPM)

Sheets Smith Wealth Management lowered its stake in J P Morgan Chase & Co (NYSE:JPM) by 1.1% during the third quarter, Holdings Channel reports. The fund owned 22,895 shares of the financial services provider’s stock after selling 250 shares during the period. Sheets Smith Wealth Management’s holdings in J P Morgan Chase & Co were worth $1,525,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in JPM. Vanguard Group Inc. increased its position in shares of J P Morgan Chase & Co by 2.1% in the second quarter. Vanguard Group Inc. now owns 229,636,598 shares of the financial services provider’s stock worth $14,269,618,000 after buying an additional 4,692,609 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of J P Morgan Chase & Co by 200.9% in the third quarter. BNP Paribas Arbitrage SA now owns 4,145,850 shares of the financial services provider’s stock worth $276,072,000 after buying an additional 2,768,188 shares during the period. Global Thematic Partners LLC acquired a new position in shares of J P Morgan Chase & Co during the second quarter worth $129,922,000. Standard Life Investments LTD increased its position in shares of J P Morgan Chase & Co by 31.8% in the third quarter. Standard Life Investments LTD now owns 8,151,428 shares of the financial services provider’s stock worth $542,763,000 after buying an additional 1,965,144 shares during the period. Finally, State Treasurer State of Michigan increased its position in shares of J P Morgan Chase & Co by 66.1% in the third quarter. State Treasurer State of Michigan now owns 4,550,240 shares of the financial services provider’s stock worth $303,000,000 after buying an additional 1,810,200 shares during the period. 73.65% of the stock is currently owned by hedge funds and other institutional investors.

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

J P Morgan Chase & Co (NYSE:JPM) opened at 89.56 on Wednesday. J P Morgan Chase & Co has a 12 month low of $54.33 and a 12 month high of $89.70. The company has a 50-day moving average of $86.06 and a 200 day moving average of $75.16. The company has a market cap of $319.79 billion, a PE ratio of 14.47 and a beta of 1.49.

J P Morgan Chase & Co (NYSE:JPM) last issued its quarterly earnings data on Friday, January 13th. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.42 by $0.29. The firm earned $24.30 billion during the quarter, compared to the consensus estimate of $23.48 billion. J P Morgan Chase & Co had a net margin of 23.45% and a return on equity of 10.91%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.68 earnings per share. On average, equities analysts forecast that J P Morgan Chase & Co will post $6.55 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 31st. Stockholders of record on Friday, January 6th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Wednesday, January 4th. J P Morgan Chase & Co’s dividend payout ratio (DPR) is 31.02%.

“Sheets Smith Wealth Management Lowers Position in J P Morgan Chase & Co (JPM)” was originally published by sleekmoney and is the sole property of of sleekmoney. If you are reading this report on another domain, it was copied illegally and reposted in violation of United States and international copyright & trademark law. The original version of this report can be viewed at http://sleekmoney.com/sheets-smith-wealth-management-lowers-position-in-j-p-morgan-chase-co-jpm/1661831.html.

A number of equities research analysts recently issued reports on JPM shares. FBR & Co reissued an “outperform” rating on shares of J P Morgan Chase & Co in a research report on Tuesday, January 17th. Buckingham Research reissued a “hold” rating and set a $74.00 price target on shares of J P Morgan Chase & Co in a research report on Wednesday, January 11th. Zacks Investment Research upgraded J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a research note on Tuesday, January 10th. Citigroup Inc. restated a “hold” rating and set a $65.00 target price on shares of J P Morgan Chase & Co in a research note on Wednesday, January 11th. Finally, Vetr cut J P Morgan Chase & Co from a “hold” rating to a “sell” rating and set a $71.84 target price for the company. in a research note on Monday, November 14th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $77.08.

In other news, CEO Douglas B. Petno sold 6,728 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $84.16, for a total transaction of $566,228.48. Following the completion of the transaction, the chief executive officer now directly owns 115,938 shares of the company’s stock, valued at $9,757,342.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel E. Pinto sold 40,433 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $84.15, for a total transaction of $3,402,436.95. Following the transaction, the director now directly owns 246,591 shares of the company’s stock, valued at $20,750,632.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,699 shares of company stock valued at $17,009,515. Insiders own 0.85% of the company’s stock.

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 serves consumers and businesses through personal service at bank branches and through automatic teller machines, online, mobile and telephone banking.

5 Day Chart for NYSE:JPM

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for J P Morgan Chase & Co (NYSE:JPM).

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/sheets-smith-wealth-management-lowers-position-in-j-p-morgan-chase-co-jpm/1661831.html

Receive News & Ratings for J P Morgan Chase & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J P Morgan Chase & Co and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *