Cobblestone Asset Management LLC Invests $233,000 in JPMorgan Chase & Co. $JPM

Key Points

• Cobblestone Asset Management LLC has invested $233,000 in JPMorgan Chase & Co. by purchasing 804 shares during the second quarter.
• JPMorgan Chase recently reported earnings of $4.96 per share, exceeding estimates, along with a quarterly revenue of $44.91 billion.
• The company will increase its quarterly dividend to $1.50 per share, reflecting a dividend yield of 1.9% and an annualized dividend of $6.00.

Cobblestone Asset Management LLC bought a new position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 804 shares of the financial services provider's stock, valued at approximately $233,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of JPM. Florida Financial Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 62.5% during the first 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. Crown Wealth Group LLC raised its stake in JPMorgan Chase & Co. by 5.4% during the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after purchasing an additional 222 shares during the period. Mosaic Financial Group LLC raised its stake in JPMorgan Chase & Co. by 0.8% during the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider's stock valued at $2,280,000 after purchasing an additional 78 shares during the period. Morse Asset Management Inc raised its stake in JPMorgan Chase & Co. by 19.5% during the 1st 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 period. Finally, Hidden Cove Wealth Management LLC raised its position in JPMorgan Chase & Co. by 4.2% during the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock valued at $677,000 after buying an additional 112 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $312.53 on Wednesday. The firm has a market cap of $859.37 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 2.07 and a beta of 1.13. The business's 50-day simple moving average is $297.43 and its 200-day simple moving average is $270.22. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $316.31. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a $1.50 dividend. The ex-dividend date is Monday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is 28.73%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Morgan Stanley upped their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Finally, Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $292.78.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.47% of the company's stock.

About JPMorgan Chase & Co.

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.

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