Traders Sell J P Morgan Chase & Co (JPM) on Strength (JPM)

Traders sold shares of J P Morgan Chase & Co (NYSE:JPM) on strength during trading hours on Tuesday. $220.67 million flowed into the stock on the tick-up and $304.63 million flowed out of the stock on the tick-down, for a money net flow of $83.96 million out of the stock. Of all equities tracked, J P Morgan Chase & Co had the 14th highest net out-flow for the day. J P Morgan Chase & Co traded up $1.23 for the day and closed at $106.85

Several brokerages have commented on JPM. Royal Bank of Canada restated a “buy” rating on shares of J P Morgan Chase & Co in a report on Friday. Deutsche Bank lowered shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating and raised their price objective for the stock from $90.00 to $96.00 in a report on Tuesday, September 26th. Keefe, Bruyette & Woods set a $96.00 price objective on shares of J P Morgan Chase & Co and gave the stock a “hold” rating in a report on Saturday, August 19th. Citigroup raised their price objective on shares of J P Morgan Chase & Co from $90.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, October 6th. Finally, Oppenheimer restated a “hold” rating on shares of J P Morgan Chase & Co in a report on Thursday, October 12th. Three equities 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’s stock. J P Morgan Chase & Co currently has a consensus rating of “Hold” and an average price target of $92.18.

The company has a market cap of $367,548.06, a price-to-earnings ratio of 15.26, a PEG ratio of 2.30 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 released its earnings results on Thursday, October 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.09. J P Morgan Chase & Co had a net margin of 24.08% and a return on equity of 11.68%. The firm had revenue of $25.33 billion during the quarter, compared to analyst estimates of $24.91 billion. During the same period last year, the business earned $1.58 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. equities analysts predict that J P Morgan Chase & Co will post 6.91 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 5th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.10%. J P Morgan Chase & Co’s payout ratio is 32.28%.

In other news, General Counsel Stacey Friedman sold 2,099 shares of J P Morgan Chase & Co stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $101.96, for a total transaction of $214,014.04. Following the completion of the transaction, the general counsel now directly owns 15,279 shares in the company, valued at $1,557,846.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. David R. Rahn & Associates Inc. bought a new stake in J P Morgan Chase & Co in the 2nd quarter worth approximately $1,458,000. Gamble Jones Investment Counsel grew its position in J P Morgan Chase & Co by 0.6% in the 2nd quarter. Gamble Jones Investment Counsel now owns 49,959 shares of the financial services provider’s stock worth $4,566,000 after purchasing an additional 276 shares during the period. Ironwood Investment Management LLC grew its position in J P Morgan Chase & Co by 61.9% in the 2nd quarter. Ironwood Investment Management LLC now owns 6,668 shares of the financial services provider’s stock worth $609,000 after purchasing an additional 2,550 shares during the period. Grove Bank & Trust grew its position in J P Morgan Chase & Co by 16.9% in the 2nd quarter. Grove Bank & Trust now owns 9,787 shares of the financial services provider’s stock worth $895,000 after purchasing an additional 1,417 shares during the period. Finally, Lee Danner & Bass Inc. grew its position in J P Morgan Chase & Co by 0.4% in the 2nd quarter. Lee Danner & Bass Inc. now owns 17,494 shares of the financial services provider’s stock worth $1,599,000 after purchasing an additional 69 shares during the period. 73.93% of the stock is owned by 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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