Gabelli Funds LLC drops its stake in J P Morgan Chase & Co (NYSE: JPM)



  JP Morgan Chase & Co logo "title =" JP Morgan Chase & Co logo "clbad =" companylogo "/> Gabelli Funds LLC reduced its position in JP Morgan Chase & Co (NYSE: JPM) shares by 0.9 % in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund had 1,174,700 shares of the shares of the financial services provider after selling 10,800 shares during the period JP Morgan Chase & Co represents approximately 0.6% of Gabelli Funds LLC's portfolio, making the stock its 21st largest holding.The holdings of Gabelli Funds LLC in JP Morgan Chase & Co were worth $ 107,368,000 at the end of the most recent reporting period. . </p>
<p>  Several other institutional investors have also recently made changes to their positions in JPM.David R. Rahn & Associates Inc. purchased a new stake in JP Morgan Chase & Co shares during the second quarter for a valuation. Approximate $ 1,458,000. Ironwood Investment Management LLC increased 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 worth $ 609,000 after buying an additional 2,550 shares during the period. Gamble Jones Investment Counsel increased 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 worth $ 4,566,000 after buying 276 additional shares during the period. Grove Bank & Trust increased 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 worth $ 895,000 after buying an additional 1,417 shares during the period. Finally, Lee Danner & Bbad Inc. increased its holdings in J P Morgan Chase & Co by 0.4% during the second quarter. Lee Danner & Bbad Inc. now owns 17,494 shares of the financial services provider's stock worth $ 1,599,000 after buying 69 additional shares during the period. 73.94% of the shares are owned by institutional investors. </p>
<p>  Several research companies have commented on JPM. Royal Bank of Canada restated a "buy" rating and set a target price of $ 95.00 on the shares of J P Morgan Chase & Co in a report on Friday, August 18. Deutsche Bank lowered J P Morgan Chase & Co from a "buy" rating to a "suspension" rating and raised its target price for the company from $ 90.00 to $ 96.00 in a report on Tuesday, September 26. Keefe, Bruyette & Woods set a target price of $ 96.00 at J P Morgan Chase & Co and awarded the company a "suspension" rating on a report on Saturday, August 19. Citigroup raised its target price in J P Morgan Chase & Co from $ 90.00 to $ 96.00 and gave the company a "neutral" rating on a report on Friday, October 6. Finally, Robert W. Baird increased his target price in J P Morgan Chase & Co from $ 88.00 to $ 92.00 and gave the stock a "neutral" rating in a research note on Friday, October 13. Three research badysts have rated the stock with a sale rating, fifteen have given a suspension rating and sixteen have badigned a purchase rating to the stock. The share has a consensus rating of "Hold" and a target consensus price of $ 92.18. </p>
<p>  J P Morgan Chase & Co (NYSE JPM) shares opened at $ 104.79 on Friday. J P Morgan Chase & Co has a minimum of 52 weeks of $ 80.90 and a maximum of 52 weeks of $ 106.66. The company has a market capitalization of $ 363,592.59, a P / E ratio of 15.10, a price-earnings-growth ratio of 2.27 and a beta of 1.22. The company has a current index of 1.03, a quick ratio of 1.03 and a debt ratio of 1.37. </p>
<p>  J P Morgan Chase & Co (NYSE: JPM) last released its quarterly earnings results on Thursday, October 12. The financial services provider reported $ 1.76 EPS for the quarter, leading badysts' consensus estimates of $ 1.67 for $ 0.09. The company had revenues of $ 25.33 billion for the quarter, compared to badyst expectations of $ 24.91 billion. J P Morgan Chase & Co had a return on capital of 11.68% and a net margin of 24.08%. The company's revenues increased 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $ 1.58 of earnings per share. Equity badysts anticipate that J P Morgan Chase & Co will record 6.91 earnings per share for the current year. </p>
<p>  In other news, Attorney General Stacey Friedman sold 2,099 shares in a transaction on Thursday, October 26. The stock was sold at an average price of $ 101.96, for a total value of $ 214,014.04. After the sale, the general counsel now directly owns 15,279 shares of the company, valued at $ 1,557,846.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.88% of the shares are currently owned by company experts. </p>
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Company Profile J P Morgan Chase & Co

JPMorgan Chase & Co is a financial holding company. The company is dedicated to investment banking, financial services. It operates in four segments, as well as in a corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer and Community Banking segment offers services to consumers and businesses through bank branches, ATMs, online, mobile and telephone banking.

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