Cohen Capital Management Inc. Sells 14,540 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Cohen Capital Management Inc. lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 14.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 86,318 shares of the financial services provider's stock after selling 14,540 shares during the period. JPMorgan Chase & Co. accounts for 3.6% of Cohen Capital Management Inc.'s portfolio, making the stock its 6th largest holding. Cohen Capital Management Inc.'s holdings in JPMorgan Chase & Co. were worth $21,174,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $471,000. Crown Wealth Group LLC grew its holdings in 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 valued at $1,060,000 after purchasing an additional 222 shares during the last quarter. Hidden Cove Wealth Management LLC grew its holdings 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 purchasing an additional 112 shares during the last quarter. Aaron Wealth Advisors LLC grew its holdings in JPMorgan Chase & Co. by 6.4% during the first quarter. Aaron Wealth Advisors LLC now owns 20,191 shares of the financial services provider's stock valued at $4,953,000 after purchasing an additional 1,218 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in JPMorgan Chase & Co. by 11.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 15,648 shares of the financial services provider's stock valued at $3,838,000 after purchasing an additional 1,561 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. KGI Securities assumed coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a "hold" rating on the stock. Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Bank of America raised their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. UBS Group raised their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Finally, TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Stock Up 0.5%

Shares of NYSE:JPM opened at $291.22 on Monday. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $296.40. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. The company's fifty day moving average is $274.67 and its 200-day moving average is $258.17. The company has a market capitalization of $809.33 billion, a PE ratio of 14.94, a P/E/G ratio of 2.53 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the previous year, the company earned $6.12 EPS. The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share 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. Stockholders of record on Thursday, July 3rd will be paid a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.92%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

Insider Activity

In related news, 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 transaction of $2,375,000.00. Following the transaction, the director owned 91,539 shares in the company, valued at $22,884,750. This represents a 9.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the company's 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 transaction, the chief operating officer owned 62,455 shares in the company, valued at approximately $16,392,563.85. This trade represents a 8.94% 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 over the last 90 days. 0.47% of the stock is currently 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.

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