Wealth Enhancement Advisory Services LLC Lowers Position in J P Morgan Chase & Co (JPM)

Wealth Enhancement Advisory Services LLC cut its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 6.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,311 shares of the financial services provider’s stock after selling 3,579 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in J P Morgan Chase & Co were worth $4,722,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of JPM. Pacific Center for Financial Services purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $106,000. Northwest Quadrant Wealth Management LLC purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $125,000. Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $125,000. Glacier Peak Capital LLC purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $129,000. Finally, Tortoise Investment Management LLC raised its stake in shares of J P Morgan Chase & Co by 434.9% in the fourth quarter. Tortoise Investment Management LLC now owns 1,578 shares of the financial services provider’s stock worth $136,000 after buying an additional 1,283 shares during the period. Institutional investors own 74.26% of the company’s stock.

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

Shares of J P Morgan Chase & Co (JPM) opened at 86.18 on Friday. J P Morgan Chase & Co has a 1-year low of $57.05 and a 1-year high of $93.98. The company has a market capitalization of $306.14 billion, a PE ratio of 13.27 and a beta of 1.22. The firm’s 50-day moving average price is $85.69 and its 200 day moving average price is $86.73.

J P Morgan Chase & Co (NYSE:JPM) last released its quarterly earnings results on Thursday, April 13th. The financial services provider reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.13. The firm had revenue of $25.59 billion during the quarter, compared to analyst estimates of $24.40 billion. J P Morgan Chase & Co had a net margin of 23.82% and a return on equity of 11.25%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.35 EPS. Equities analysts predict that J P Morgan Chase & Co will post $6.66 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, July 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.32%. J P Morgan Chase & Co’s dividend payout ratio (DPR) is currently 30.82%.

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A number of analysts have recently commented on the company. BMO Capital Markets restated a “hold” rating on shares of J P Morgan Chase & Co in a report on Wednesday, March 1st. BidaskClub upgraded J P Morgan Chase & Co from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Keefe, Bruyette & Woods upped their target price on J P Morgan Chase & Co to $47.00 and gave the stock a “buy” rating in a report on Monday, April 17th. Vetr lowered J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $97.41 target price on the stock. in a report on Monday, June 12th. Finally, Vining Sparks upgraded J P Morgan Chase & Co to an “outperform” rating and set a $95.00 target price on the stock in a report on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $82.01.

In other news, insider Ashley Bacon sold 6,514 shares of J P Morgan Chase & Co stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $87.21, for a total transaction of $568,085.94. Following the completion of the sale, the insider now directly owns 47,384 shares of the company’s stock, valued at approximately $4,132,358.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James S. Crown acquired 11,500 shares of the company’s stock in a transaction dated Wednesday, April 19th. The shares were bought at an average cost of $85.48 per share, with a total value of $983,020.00. Following the completion of the acquisition, the director now directly owns 299,862 shares in the company, valued at approximately $25,632,203.76. The disclosure for this purchase can be found here. Insiders have sold a total of 20,711 shares of company stock valued at $1,775,791 over the last 90 days. Company insiders own 0.85% of the company’s stock.

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.

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