J P Morgan Chase & Co Sees Unusually High Options Volume (JPM)
J P Morgan Chase & Co (NYSE:JPM) was the recipient of some unusual options trading on Friday. Stock traders purchased 32,689 put options on the company. This represents an increase of 138% compared to the average daily volume of 13,712 put options.
A number of brokerages have issued reports on JPM. BidaskClub raised J P Morgan Chase & Co from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Robert W. Baird reaffirmed a “hold” rating and set a $88.00 price target on shares of J P Morgan Chase & Co in a report on Thursday. Zacks Investment Research downgraded J P Morgan Chase & Co from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Vetr downgraded J P Morgan Chase & Co from a “strong-buy” rating to a “buy” rating and set a $97.41 price target for the company. in a report on Monday, June 12th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $102.00 price target on shares of J P Morgan Chase & Co in a report on Friday, September 15th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $86.36.
In related news, General Counsel Stacey Friedman sold 9,968 shares of J P Morgan Chase & Co stock in a transaction on Monday, August 21st. The stock was sold at an average price of $90.55, for a total value of $902,602.40. Following the completion of the transaction, the general counsel now directly owns 10,527 shares in the company, valued at $953,219.85. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Marianne Lake sold 17,596 shares of J P Morgan Chase & Co stock in a transaction on Monday, July 17th. The shares were 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. Over the last quarter, insiders sold 28,564 shares of company stock valued at $2,605,334. 0.88% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the business. MPS Loria Financial Planners LLC acquired a new stake in shares of J P Morgan Chase & Co in the second quarter valued at approximately $296,000. Frontier Investment Mgmt Co. increased its stake in shares of J P Morgan Chase & Co by 7.1% in the second quarter. Frontier Investment Mgmt Co. now owns 30,498 shares of the financial services provider’s stock valued at $2,787,000 after purchasing an additional 2,017 shares during the period. Intl Fcstone Inc. acquired a new stake in shares of J P Morgan Chase & Co in the second quarter valued at approximately $2,667,000. Griffin Asset Management Inc. acquired a new stake in shares of J P Morgan Chase & Co in the second quarter valued at approximately $5,058,000. Finally, Gs Investments Inc. acquired a new stake in shares of J P Morgan Chase & Co in the second quarter valued at approximately $676,000. Institutional investors own 77.90% of the company’s stock.
J P Morgan Chase & Co (NYSE:JPM) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, beating the consensus estimate of $1.59 by $0.23. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter last year, the business earned $1.55 earnings per share. J P Morgan Chase & Co’s revenue was up 4.6% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $2.24 annualized dividend and a dividend yield of 2.36%. This is a positive change from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. J P Morgan Chase & Co’s dividend payout ratio (DPR) is presently 29.59%.
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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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