JP Morgan's first-quarter profit easily tops expectations

JP Morgan Chase reveals first-quarter profit jumped to $8.7bn

Also, the number of active investment managers holding Nuveen Pennsylvania Investment Quality Municipal Fund in top ten stock positions was flat from 0 to 0 for the same number. That profit exceeds last year's $5.46 billion, or $1.03 per share, in profit. ETRADE Capital Management LLC boosted its stake in shares of JPMorgan Chase by 4.2% in the 3rd quarter.

Shares initially spiked more than 1 percent in premarket trading following the release, before paring gains. Stone Ridge Asset Mgmt Limited Liability Corporation invested in 0.06% or 8,879 shares. Moreover, First Dallas Secs has 0.62% invested in JPMorgan Chase & Co. Aviva PLC now owns 3,082,910 shares of the financial services provider's stock valued at $281,840,000 after acquiring an additional 160,019 shares during the period. Jpmorgan Chase & has $389.57 billion market cap. Moreover, Benchmark Capital Advisors has 0.17% invested in the company for 16,600 shares.

NYSE JPM opened at $110.30 on Friday. Symphony Asset Mngmt Ltd Com owns 29,919 shs for 0.33% of their capital. (NYSE:JPM). Benin reported 14,817 shs or 0.64% of all its holdings.

Since October 25, 2017, it had 1 insider purchase, and 9 insider sales for $22.34 million activity. (NYSE:JPM) shs with value of $1.03M were sold by Lake Marianne. JPMorgan Chase & Co had 114 analyst reports since July 21, 2015 according to SRatingsIntel. On Tuesday, January 16 CROWN JAMES S bought $825,327 worth of JPMorgan Chase & Co. (NYSE:JPM) for 23,050 shs. In the last three months, insiders sold 152,047 shares of company stock valued at $17,098,115. (NYSE:JPM). Valmark Advisers has invested 0.01% in JPMorgan Chase & Co. Sunbelt Securities Inc. now owns 5,128 shares of the financial services provider's stock worth $469,000 after buying an additional 26 shares during the last quarter.

JPMorgan's investment bank also had a solid quarter, helped by much more volatile and active markets last quarter. Temasek Holdings Private Ltd sold 88,112 shares as the company's stock rose 0.67% while stock markets declined.

The bank reported earnings of $2.37 a share vs.an estimated $2.28 a share from a consensus of analysts polled by Thomson Reuters. Market & investor services revenue grew 15% to $7.48 billion. The stock increased 2.49% or $2.75 during the last trading session, reaching $113.37. It has outperformed by 12.44% the S&P500.

Income tax expense was down 8.6 percent at $2.56 billion as the USA corporate tax rate fell. It also increased its holding in Cognex Corp (NASDAQ:CGNX) by 123,532 shares in the quarter, for a total of 139,192 shares, and has risen its stake in Rockwell Automation Inc (NYSE:ROK). This public organizations Return on Investment (ROI) is 6.90%.

Bloomberg has the details on JP Morgan's big quarter. The stock was sold at an average price of $112.25, for a total transaction of $7,307,587.25. 65% are bullish. 28 are the (NYSE:JPM)'s analyst reports since November 13, 2017 according to StockzIntelligence Inc. Finally, Societe Generale cut JPMorgan Chase from a "buy" rating to a "hold" rating in a research note on Tuesday, January 9th. Separately, on April 6, Vining Sparks' Marty Mosby maintained a Buy rating on the stock and has a price target of $130. (NYSE:JPM) earned "Buy" rating by Wells Fargo on Wednesday, January 17. Credit Suisse Group reiterated a "buy" rating and set a $78.00 price objective on shares of J P Morgan Chase & Co in a research note on Thursday, November 3rd. BMO Capital Markets' price target points to a potential downside of 0.27% from the company's previous close.

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