JPMorgan Chase & Co. $JPM Stock Position Lowered by Cottage Street Advisors LLC

Cottage Street Advisors LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,490 shares of the financial services provider’s stock after selling 1,024 shares during the quarter. JPMorgan Chase & Co. accounts for about 4.9% of Cottage Street Advisors LLC’s investment portfolio, making the stock its 4th largest holding. Cottage Street Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $9,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Harbor Asset Planning Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $26,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $30,000. Ryan Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at $37,000. Finally, Christopher J. Hasenberg Inc grew its holdings in JPMorgan Chase & Co. by 212.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 106 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $316.69 on Tuesday. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $319.56. The stock’s 50 day simple moving average is $306.48 and its two-hundred day simple moving average is $288.11. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The stock has a market cap of $862.11 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The company had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter last year, the business posted $4.37 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were given a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Insiders Place Their Bets

In other news, insider Robin Leopold sold 966 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the sale, the insider directly owned 58,479 shares of the company’s stock, valued at $18,240,769.68. This represents a 1.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. 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 directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on JPM shares. Barclays upped their price objective on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. The Goldman Sachs Group restated a “buy” rating and set a $366.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Morgan Stanley upped their price target on JPMorgan Chase & Co. from $336.00 to $338.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Daiwa Capital Markets lifted their price objective on JPMorgan Chase & Co. from $330.00 to $332.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Finally, Citigroup boosted their target price on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average price target of $326.38.

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.