Cobblestone Capital Advisors LLC NY Reduces Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Cobblestone Capital Advisors LLC NY reduced its stake in JPMorgan Chase & Co. by 9.4% during the first quarter, holding 17,912 shares valued at $4,394,000.
• Analysts have issued mixed ratings for JPMorgan Chase & Co., with three sell ratings, seven hold ratings, and thirteen buy ratings; current consensus target price stands at $288.68.
• JPMorgan Chase recently declared a quarterly dividend of $1.40 per share, translating to an annualized dividend yield of 1.9% and a payout ratio of 28.73%.

Cobblestone Capital Advisors LLC NY trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 9.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,912 shares of the financial services provider's stock after selling 1,864 shares during the period. Cobblestone Capital Advisors LLC NY's holdings in JPMorgan Chase & Co. were worth $4,394,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC grew its position in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after purchasing an additional 4,841 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in JPMorgan Chase & Co. by 0.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock worth $46,068,000 after purchasing an additional 1,229 shares during the last quarter. Highview Capital Management LLC DE grew its position in JPMorgan Chase & Co. by 16.1% during the 4th quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock worth $3,266,000 after purchasing an additional 1,893 shares during the last quarter. KKM Financial LLC grew its position in JPMorgan Chase & Co. by 3.9% during the 4th quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock worth $4,040,000 after purchasing an additional 640 shares during the last quarter. Finally, Jump Financial LLC grew its position in JPMorgan Chase & Co. by 211.8% during the 4th quarter. Jump Financial LLC now owns 13,013 shares of the financial services provider's stock worth $3,119,000 after purchasing an additional 8,840 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on JPM. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective on the stock. in a research report on Friday, June 27th. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Keefe, Bruyette & Woods lifted their target price on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Finally, Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $288.68.

Insider Transactions at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 2,821 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the sale, the general counsel directly owned 68,757 shares in the company, valued at $18,269,422.47. The trade was a 3.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the sale, the chief operating officer owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,557 shares of company stock valued at $4,113,796. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $294.03 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a market cap of $808.52 billion, a P/E ratio of 15.09, a PEG ratio of 1.93 and a beta of 1.11. The company has a 50-day moving average of $285.93 and a two-hundred day moving average of $263.45. JPMorgan Chase & Co. has a 12-month low of $200.61 and a 12-month high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm's quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.12 earnings per share. As a group, research 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 declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were issued a dividend of $1.40 per share. The ex-dividend date was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is 28.73%.

JPMorgan Chase & Co. Company 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.

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