NS Partners Ltd Sells 1,848 Shares of J P Morgan Chase & Co (JPM)
NS Partners Ltd lowered its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 0.7% during the first quarter, Holdings Channel reports. The fund owned 255,113 shares of the financial services provider’s stock after selling 1,848 shares during the period. J P Morgan Chase & Co comprises approximately 3.2% of NS Partners Ltd’s portfolio, making the stock its 2nd largest position. NS Partners Ltd’s holdings in J P Morgan Chase & Co were worth $22,409,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in JPM. Billings Capital Management LLC raised its stake in J P Morgan Chase & Co by 38.3% in the fourth quarter. Billings Capital Management LLC now owns 14,767 shares of the financial services provider’s stock worth $1,274,000 after buying an additional 4,088 shares during the period. Cheviot Value Management LLC bought a new stake in J P Morgan Chase & Co during the fourth quarter worth about $377,000. SRS Capital Advisors Inc. bought a new stake in J P Morgan Chase & Co during the fourth quarter worth about $329,000. Wexford Capital LP raised its stake in J P Morgan Chase & Co by 133.8% in the fourth quarter. Wexford Capital LP now owns 50,251 shares of the financial services provider’s stock worth $4,336,000 after buying an additional 28,759 shares during the period. Finally, Wallace Capital Management Inc. bought a new stake in J P Morgan Chase & Co during the fourth quarter worth about $213,000. 74.06% of the stock is owned by institutional investors and hedge funds.
J P Morgan Chase & Co (JPM) traded down 0.84% during midday trading on Friday, hitting $91.42. 10,679,534 shares of the stock were exchanged. The stock has a market cap of $321.66 billion, a price-to-earnings ratio of 13.49 and a beta of 1.19. J P Morgan Chase & Co has a 52 week low of $65.11 and a 52 week high of $95.22. The firm’s 50-day moving average is $91.87 and its 200 day moving average is $88.50.
J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.23. The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm posted $1.55 earnings per share. Equities research analysts expect that J P Morgan Chase & Co will post $6.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Thursday, July 6th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Monday, July 3rd. J P Morgan Chase & Co’s payout ratio is 29.59%.
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A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company assumed coverage on J P Morgan Chase & Co in a research report on Wednesday. They issued an “outperform” rating and a $110.00 price target for the company. Berenberg Bank set a $65.00 price objective on J P Morgan Chase & Co and gave the stock a “sell” rating in a research report on Thursday, August 3rd. BidaskClub lowered J P Morgan Chase & Co from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research upgraded J P Morgan Chase & Co from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research report on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of J P Morgan Chase & Co in a research report on Friday, July 21st. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty have issued a buy rating to the company’s stock. J P Morgan Chase & Co has an average rating of “Hold” and an average price target of $85.53.
In related news, CFO Marianne Lake sold 17,596 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $91.58, for a total transaction of $1,611,441.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicole Giles sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 owns 3,783 shares of the company’s stock, valued at $345,350.07. The disclosure for this sale can be found here. 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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