Investors Buy Shares of J P Morgan Chase & Co (JPM) on Weakness
Investors bought shares of J P Morgan Chase & Co (NYSE:JPM) on weakness during trading hours on Thursday. $284.93 million flowed into the stock on the tick-up and $193.71 million flowed out of the stock on the tick-down, for a money net flow of $91.22 million into the stock. Of all equities tracked, J P Morgan Chase & Co had the 2nd highest net in-flow for the day. J P Morgan Chase & Co traded down ($1.58) for the day and closed at $88.53
A number of brokerages have recently issued reports on JPM. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $93.00 price objective on shares of J P Morgan Chase & Co in a research note on Thursday, July 6th. Wells Fargo & Company began coverage on shares of J P Morgan Chase & Co in a research note on Wednesday, August 9th. They issued an “outperform” rating and a $110.00 price objective for the company. Buckingham Research restated a “neutral” rating and issued a $100.00 price objective (up previously from $94.00) on shares of J P Morgan Chase & Co in a research note on Monday, July 10th. Berenberg Bank set a $65.00 price objective on shares of J P Morgan Chase & Co and gave the company a “sell” rating in a research note on Thursday, August 3rd. Finally, BidaskClub upgraded shares of J P Morgan Chase & Co from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nineteen have given a buy rating to the company’s stock. J P Morgan Chase & Co currently has a consensus rating of “Hold” and a consensus price target of $85.59.
The firm has a 50-day moving average of $91.81 and a 200-day moving average of $89.04. The stock has a market cap of $311.49 billion, a price-to-earnings ratio of 13.06 and a beta of 1.19. J P Morgan Chase & Co also was the target of some unusual options trading on Tuesday. Investors bought 33,230 put options on the stock. This represents an increase of 133% compared to the average volume of 14,277 put options.
J P Morgan Chase & Co (NYSE:JPM) last announced its earnings results on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.23. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the prior year, the business posted $1.55 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. On average, equities research analysts forecast that J P Morgan Chase & Co will post $6.81 earnings per share for the current fiscal year.
In other J P Morgan Chase & Co news, General Counsel Stacey Friedman sold 9,968 shares of the 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 transaction, the general counsel now directly owns 10,527 shares in the company, valued at approximately $953,219.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Marianne Lake sold 17,596 shares of the 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 disclosure for this sale can be found here. Insiders sold 28,564 shares of company stock worth $2,605,334 over the last quarter. 0.88% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of JPM. Teachers Advisors LLC boosted its holdings in shares of J P Morgan Chase & Co by 10.1% during the 4th quarter. Teachers Advisors LLC now owns 8,317,280 shares of the financial services provider’s stock worth $717,698,000 after buying an additional 764,019 shares in the last quarter. Kentucky Retirement Systems bought a new position in shares of J P Morgan Chase & Co during the 4th quarter worth approximately $22,406,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of J P Morgan Chase & Co during the 4th quarter worth approximately $9,997,000. Philadelphia Trust Co. boosted its holdings in shares of J P Morgan Chase & Co by 1.2% during the 4th quarter. Philadelphia Trust Co. now owns 46,692 shares of the financial services provider’s stock worth $4,029,000 after buying an additional 555 shares in the last quarter. Finally, Wsfs Capital Management LLC bought a new position in shares of J P Morgan Chase & Co during the 4th quarter worth approximately $204,000. Hedge funds and other institutional investors own 78.02% of the company’s stock.
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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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