Coastwise Capital Group LLC Has $837,000 Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Coastwise Capital Group LLC has reduced its stake in JPMorgan Chase & Co. by 46% in the first quarter, currently holding 3,410 shares valued at approximately $837,000.
• The company recently announced a quarterly dividend of $1.40 per share, with a yield of 1.88% and a payout ratio of 28.73%.
• JPMorgan's latest earnings report showed an EPS of $4.96, outperforming estimates, but revenue declined 10.5% year-over-year.

Coastwise Capital Group LLC lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 46.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,410 shares of the financial services provider's stock after selling 2,907 shares during the quarter. Coastwise Capital Group LLC's holdings in JPMorgan Chase & Co. were worth $837,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in JPM. Florida Financial Advisors LLC raised its stake in JPMorgan Chase & Co. by 62.5% in the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after acquiring an additional 3,792 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth approximately $471,000. Crown Wealth Group LLC boosted its holdings in shares of JPMorgan Chase & Co. by 5.4% during the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after acquiring an additional 222 shares during the period. Morse Asset Management Inc grew its position in shares of JPMorgan Chase & Co. by 19.5% in the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock valued at $630,000 after purchasing an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 4.2% in the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock valued at $677,000 after purchasing an additional 112 shares during the period. 71.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on JPM shares. Morgan Stanley lifted their price objective on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Bank of America lifted their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Truist Financial increased their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. Finally, Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Trading Up 0.9%

JPMorgan Chase & Co. stock traded up $2.59 during trading hours on Wednesday, hitting $299.63. The stock had a trading volume of 8,046,594 shares, compared to its average volume of 8,322,348. The business's 50 day simple moving average is $279.75 and its 200-day simple moving average is $260.92. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $301.29. The stock has a market cap of $832.70 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 2.00 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the prior year, the business posted $6.12 earnings per share. JPMorgan Chase & Co.'s quarterly revenue was down 10.5% on a year-over-year basis. On average, equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

Insider Activity

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the sale, the chief financial officer directly owned 18,017 shares in the company, valued at approximately $4,518,123.09. This trade represents a 68.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the sale, the director owned 91,539 shares in the company, valued at approximately $22,884,750. The trade was a 9.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock worth $18,060,015 in the last 90 days. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.