Abbrea Capital LLC cut its stake in shares of J P Morgan Chase & Co (NYSE:JPM) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,035 shares of the financial services provider’s stock after selling 575 shares during the quarter. J P Morgan Chase & Co accounts for about 1.3% of Abbrea Capital LLC’s portfolio, making the stock its 19th largest position. Abbrea Capital LLC’s holdings in J P Morgan Chase & Co were worth $3,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in JPM. Harbour Capital Advisors LLC boosted its position in J P Morgan Chase & Co by 8,767.4% during the 2nd quarter. Harbour Capital Advisors LLC now owns 2,794,464 shares of the financial services provider’s stock worth $30,574,000 after buying an additional 2,762,950 shares during the period. Karp Capital Management Corp acquired a new stake in J P Morgan Chase & Co during the 1st quarter worth approximately $140,124,000. State Street Corp boosted its position in J P Morgan Chase & Co by 0.8% during the 1st quarter. State Street Corp now owns 170,534,760 shares of the financial services provider’s stock worth $14,979,775,000 after buying an additional 1,357,194 shares during the period. Pioneer Investment Management Inc. boosted its position in J P Morgan Chase & Co by 22.2% during the 1st quarter. Pioneer Investment Management Inc. now owns 7,402,919 shares of the financial services provider’s stock worth $650,272,000 after buying an additional 1,344,295 shares during the period. Finally, Hexavest Inc. boosted its position in J P Morgan Chase & Co by 33,815.1% during the 2nd quarter. Hexavest Inc. now owns 904,516 shares of the financial services provider’s stock worth $82,673,000 after buying an additional 901,849 shares during the period. 78.97% of the stock is currently owned by institutional investors.

Shares of J P Morgan Chase & Co (NYSE:JPM) opened at $98.19 on Thursday. J P Morgan Chase & Co has a one year low of $76.88 and a one year high of $102.42. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.37. The stock has a market cap of $337,500.22, a price-to-earnings ratio of 14.02, a PEG ratio of 2.11 and a beta of 1.22.

J P Morgan Chase & Co (NYSE:JPM) last posted its earnings results on Thursday, October 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the business posted $1.58 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. research analysts expect that J P Morgan Chase & Co will post 6.91 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th were paid a $0.56 dividend. This is a positive change from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $2.24 annualized dividend and a dividend yield of 2.28%. J P Morgan Chase & Co’s dividend payout ratio is presently 32.28%.

In other news, General Counsel Stacey Friedman sold 2,099 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $101.96, for a total value of $214,014.04. Following the completion of the sale, the general counsel now owns 15,279 shares in the company, valued at approximately $1,557,846.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This news story was first published by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://www.dailypolitical.com/2017/11/16/abbrea-capital-llc-decreases-position-in-j-p-morgan-chase-co-jpm.html.

Several equities research analysts recently commented on the stock. Royal Bank Of Canada reiterated a “buy” rating and set a $105.00 target price on shares of J P Morgan Chase & Co in a research report on Wednesday. Deutsche Bank AG downgraded shares of J P Morgan Chase & Co from a “buy” rating to a “hold” rating and boosted their price target for the stock from $90.00 to $96.00 in a research report on Tuesday, September 26th. Keefe, Bruyette & Woods set a $96.00 price target on shares of J P Morgan Chase & Co and gave the stock a “hold” rating in a research report on Saturday, August 19th. Berenberg Bank set a $65.00 price target on shares of J P Morgan Chase & Co and gave the stock a “sell” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research downgraded 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, fifteen have given a hold rating and sixteen have given a buy rating to the stock. J P Morgan Chase & Co presently has an average rating of “Hold” and an average target price of $92.18.

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.

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

Receive News & Ratings for J P Morgan Chase & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J P Morgan Chase & Co and related companies with MarketBeat.com's FREE daily email newsletter.