Sandy Cove Advisors LLC Acquires 1,590 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Sandy Cove Advisors LLC lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 20.3% in the first quarter, HoldingsChannel reports. The fund owned 9,433 shares of the financial services provider’s stock after buying an additional 1,590 shares during the period. JPMorgan Chase & Co. makes up 0.9% of Sandy Cove Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Sandy Cove Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $1,889,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in JPM. Stone House Investment Management LLC raised its holdings in JPMorgan Chase & Co. by 132.8% during the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after buying an additional 89 shares during the last quarter. Richardson Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the 1st quarter valued at $34,000. Bare Financial Services Inc purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $35,000. Partnership Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $36,000. Finally, Stuart Chaussee & Associates Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $40,000. 71.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,415 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.65, for a total value of $885,869.75. Following the transaction, the general counsel now owns 42,124 shares in the company, valued at $8,452,180.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO James Dimon sold 178,222 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the sale, the chief executive officer now owns 264,461 shares in the company, valued at $48,708,426.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 4,415 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.65, for a total value of $885,869.75. Following the sale, the general counsel now owns 42,124 shares in the company, valued at approximately $8,452,180.60. The disclosure for this sale can be found here. Insiders have sold 250,565 shares of company stock worth $46,962,717 over the last quarter. Insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Oppenheimer cut their price objective on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research report on Monday, April 15th. Evercore ISI increased their price objective on shares of JPMorgan Chase & Co. from $188.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. BMO Capital Markets lowered their price objective on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a research note on Monday, April 15th. Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, May 21st. Finally, StockNews.com lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $194.10.

JPMorgan Chase & Co. Stock Up 1.6 %

Shares of JPM opened at $208.83 on Wednesday. The company has a market cap of $599.69 billion, a PE ratio of 12.61, a P/E/G ratio of 2.72 and a beta of 1.12. The business has a fifty day moving average of $197.23 and a 200 day moving average of $186.57. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $208.86. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.29.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.45. The firm had revenue of $41.93 billion during the quarter, compared to the consensus estimate of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 16.44 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $4.60 annualized dividend and a dividend yield of 2.20%. JPMorgan Chase & Co.’s payout ratio is currently 27.78%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.