Cullen Capital Management LLC Grows Position in J P Morgan Chase & Co (JPM)

Cullen Capital Management LLC boosted its position in shares of J P Morgan Chase & Co (NYSE:JPM) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 994,420 shares of the financial services provider’s stock after buying an additional 10,035 shares during the quarter. J P Morgan Chase & Co makes up 3.2% of Cullen Capital Management LLC’s holdings, making the stock its biggest position. Cullen Capital Management LLC’s holdings in J P Morgan Chase & Co were worth $90,890,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. David R. Rahn & Associates Inc. purchased a new position in J P Morgan Chase & Co during the second quarter valued at $1,458,000. Ironwood Investment Management LLC lifted its holdings in J P Morgan Chase & Co by 61.9% during the second quarter. Ironwood Investment Management LLC now owns 6,668 shares of the financial services provider’s stock valued at $609,000 after purchasing an additional 2,550 shares in the last quarter. Gamble Jones Investment Counsel lifted its holdings in J P Morgan Chase & Co by 0.6% during the second quarter. Gamble Jones Investment Counsel now owns 49,959 shares of the financial services provider’s stock valued at $4,566,000 after purchasing an additional 276 shares in the last quarter. Grove Bank & Trust lifted its holdings in J P Morgan Chase & Co by 16.9% during the second quarter. Grove Bank & Trust now owns 9,787 shares of the financial services provider’s stock valued at $895,000 after purchasing an additional 1,417 shares in the last quarter. Finally, Lee Danner & Bass Inc. lifted its holdings in J P Morgan Chase & Co by 0.4% during the second quarter. Lee Danner & Bass Inc. now owns 17,494 shares of the financial services provider’s stock valued at $1,599,000 after purchasing an additional 69 shares in the last quarter. Institutional investors own 73.93% of the company’s stock.

Shares of J P Morgan Chase & Co (JPM) traded up $1.23 during mid-day trading on Wednesday, reaching $106.85. 15,508,800 shares of the company’s stock were exchanged, compared to its average volume of 13,997,725. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.37. J P Morgan Chase & Co has a one year low of $81.64 and a one year high of $108.40. The stock has a market capitalization of $366,472.44, a P/E ratio of 15.22, a PEG ratio of 2.29 and a beta of 1.22.

J P Morgan Chase & Co (NYSE:JPM) last issued its earnings results on Thursday, October 12th. The financial services provider reported $1.76 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $25.33 billion for the quarter, compared to the consensus estimate of $24.91 billion. During the same period in the previous year, the firm earned $1.58 earnings per share. J P Morgan Chase & Co’s quarterly revenue was up 2.6% compared to the same quarter last year. analysts anticipate that J P Morgan Chase & Co will post 6.91 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, January 5th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.10%. J P Morgan Chase & Co’s dividend payout ratio (DPR) is presently 32.28%.

In other J P Morgan Chase & Co news, General Counsel Stacey Friedman sold 2,099 shares of J P Morgan Chase & Co stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $101.96, for a total transaction of $214,014.04. Following the transaction, the general counsel now directly owns 15,279 shares of the company’s stock, valued at $1,557,846.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by insiders.

Several equities analysts have issued reports on the stock. Royal Bank of Canada reaffirmed a “buy” rating on shares of J P Morgan Chase & Co in a report on Friday, December 8th. Wells Fargo & Company increased their price objective on shares of J P Morgan Chase & Co from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, October 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of J P Morgan Chase & Co in a report on Wednesday, October 11th. Citigroup increased their price objective on shares of J P Morgan Chase & Co from $90.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, October 6th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $110.00 price objective (up from $103.00) on shares of J P Morgan Chase & Co in a report on Monday, October 9th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $92.18.

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J P Morgan Chase & Co 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)

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