Ingalls & Snyder LLC Raises Position in J P Morgan Chase & Co (JPM)

Ingalls & Snyder LLC grew its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 34.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 347,774 shares of the financial services provider’s stock after purchasing an additional 89,332 shares during the period. J P Morgan Chase & Co accounts for about 1.7% of Ingalls & Snyder LLC’s investment portfolio, making the stock its 9th largest position. Ingalls & Snyder LLC’s holdings in J P Morgan Chase & Co were worth $31,787,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Pacific Center for Financial Services raised its stake in shares of J P Morgan Chase & Co by 14.5% during the first quarter. Pacific Center for Financial Services now owns 1,401 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 177 shares during the period. Ullmann Financial Group Inc. bought a new stake in shares of J P Morgan Chase & Co in the first quarter worth $148,000. Northwest Investment Counselors LLC bought a new stake in shares of J P Morgan Chase & Co in the second quarter worth $165,000. Capital Advisors Ltd. LLC increased its stake in shares of J P Morgan Chase & Co by 53.0% in the second quarter. Capital Advisors Ltd. LLC now owns 1,935 shares of the financial services provider’s stock worth $177,000 after buying an additional 670 shares during the last quarter. Finally, Pecaut & CO. bought a new stake in J P Morgan Chase & Co during the second quarter valued at $201,000. 77.94% of the stock is currently owned by institutional investors.

Shares of J P Morgan Chase & Co (NYSE JPM) traded down $0.12 during trading on Friday, reaching $97.51. The company had a trading volume of 9,312,400 shares, compared to its average volume of 14,005,554. J P Morgan Chase & Co has a 1-year low of $75.77 and a 1-year high of $102.42. The firm has a market cap of $338,662.59, a price-to-earnings ratio of 14.06, a PEG ratio of 2.12 and a beta of 1.22. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.03 and a current ratio of 1.03.

J P Morgan Chase & Co (NYSE:JPM) last announced its earnings results on Thursday, October 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.09. The business had revenue of $25.33 billion for the quarter, compared to analyst estimates of $24.91 billion. J P Morgan Chase & Co had a return on equity of 11.68% and a net margin of 24.08%. J P Morgan Chase & Co’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.58 EPS. analysts anticipate that J P Morgan Chase & Co will post 6.91 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were given a dividend of $0.56 per share. This is a positive change from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.24 annualized dividend and a dividend yield of 2.30%. J P Morgan Chase & Co’s payout ratio is 32.28%.

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JPM has been the subject of several recent research reports. Royal Bank of Canada reiterated a “buy” rating and set a $95.00 target price on shares of J P Morgan Chase & Co in a research note on Friday, August 18th. Zacks Investment Research raised shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a report on Tuesday, July 18th. Bank of America Corporation reaffirmed a “buy” rating and issued a $99.00 price objective on shares of J P Morgan Chase & Co in a report on Monday, July 17th. Vetr raised shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $93.14 price objective for the company in a report on Wednesday, September 6th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $102.00 price objective on shares of J P Morgan Chase & Co in a report on Friday, September 15th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $91.83.

In other news, General Counsel Stacey Friedman sold 9,968 shares of J P Morgan Chase & Co 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 completion of the transaction, the general counsel now directly owns 10,527 shares in the company, valued at approximately $953,219.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.88% 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.

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

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