Sandy Cove Advisors LLC Increases Position in JPMorgan Chase & Co. $JPM

Key Points

• Sandy Cove Advisors LLC increased its position in JPMorgan Chase & Co. by 13.2%, acquiring an additional 1,186 shares during the second quarter, resulting in a total of 10,137 shares valued at approximately $2,939,000.
• JPMorgan reported $4.96 earnings per share for the latest quarter, exceeding analysts' estimates of $4.48, although its revenue fell by 10.5% compared to the previous year.
• The current consensus rating for JPMorgan Chase & Co. stock is "Moderate Buy", with a consensus target price of $291.67 based on ratings from multiple research analysts.

Sandy Cove Advisors LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 13.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,137 shares of the financial services provider's stock after buying an additional 1,186 shares during the period. JPMorgan Chase & Co. comprises 1.1% of Sandy Cove Advisors LLC's portfolio, making the stock its 21st largest holding. Sandy Cove Advisors LLC's holdings in JPMorgan Chase & Co. were worth $2,939,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth approximately $28,000. University of Illinois Foundation bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth approximately $30,000. Curat Global LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth approximately $33,000. Capital A Wealth Management LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $64,000. Finally, Mpwm Advisory Solutions LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $72,000. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $309.38 on Tuesday. The firm has a 50-day moving average price of $294.29 and a 200-day moving average price of $267.75. The firm has a market capitalization of $850.72 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 2.04 and a beta of 1.13. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $309.95.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced 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 net margin of 20.52% and a return on equity of 16.93%. The company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same quarter last year, the business posted $6.12 EPS. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the transaction, the director owned 82,207 shares of the company's stock, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on JPM shares. Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a research report on Monday, July 7th. Bank of America increased their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Zacks Research downgraded shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Finally, Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $291.67.

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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