Sit Investment Associates Inc. increased its position in J P Morgan Chase & Co (NYSE:JPM) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 691,897 shares of the financial services provider’s stock after buying an additional 10,802 shares during the period. J P Morgan Chase & Co accounts for approximately 1.6% of Sit Investment Associates Inc.’s investment portfolio, making the stock its 4th largest position. Sit Investment Associates Inc.’s holdings in J P Morgan Chase & Co were worth $63,239,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $2,897,377,000. Dodge & Cox acquired a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $2,297,616,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth approximately $393,160,000. Karp Capital Management Corp acquired a new stake in shares of J P Morgan Chase & Co during the first quarter worth approximately $140,124,000. Finally, AQR Capital Management LLC boosted its stake in shares of J P Morgan Chase & Co by 34.2% in the fourth quarter. AQR Capital Management LLC now owns 5,539,766 shares of the financial services provider’s stock worth $478,026,000 after buying an additional 1,411,214 shares during the period. Institutional investors own 74.06% of the company’s stock.

Shares of J P Morgan Chase & Co (JPM) traded down 0.84% during mid-day trading on Friday, reaching $91.42. 10,679,534 shares of the company traded hands. J P Morgan Chase & Co has a 52-week low of $65.11 and a 52-week high of $95.22. The company has a market capitalization of $321.66 billion, a P/E ratio of 13.49 and a beta of 1.19. The firm’s 50 day moving average price is $91.87 and its 200-day moving average price is $88.50.

J P Morgan Chase & Co (NYSE:JPM) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.23. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. J P Morgan Chase & Co’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.55 EPS. Equities analysts predict that J P Morgan Chase & Co will post $6.81 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Thursday, July 6th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Monday, July 3rd. J P Morgan Chase & Co’s dividend payout ratio is presently 29.59%.

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A number of brokerages have recently commented on JPM. BidaskClub upgraded shares of J P Morgan Chase & Co from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Keefe, Bruyette & Woods increased their target price on shares of J P Morgan Chase & Co to $47.00 and gave the company a “buy” rating in a research report on Monday, April 17th. Vetr cut shares of J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $97.41 target price for the company. in a research report on Monday, June 12th. Vining Sparks upgraded shares of J P Morgan Chase & Co to an “outperform” rating and set a $95.00 target price for the company in a research report on Thursday, April 27th. Finally, Zacks Investment Research cut shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $85.53.

In other J P Morgan Chase & Co news, CFO Marianne Lake sold 17,596 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $91.58, for a total value of $1,611,441.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicole Giles sold 1,000 shares of the company’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 value of $91,290.00. Following the completion of the transaction, the insider now owns 3,783 shares of the company’s stock, valued at approximately $345,350.07. The disclosure for this sale can be found here. 0.85% of the stock is owned by corporate insiders.

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

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