Cottage Street Advisors LLC grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 11,378.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,100,117 shares of the financial services provider’s stock after purchasing an additional 4,064,396 shares during the quarter. JPMorgan Chase & Co. makes up about 3.5% of Cottage Street Advisors LLC’s investment portfolio, making the stock its 10th largest position. Cottage Street Advisors LLC owned 0.14% of JPMorgan Chase & Co. worth $674,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of JPM. Retirement Financial Solutions LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $26,000. HBC Financial Services PLLC grew its position in JPMorgan Chase & Co. by 61.2% during the 2nd quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 90 shares during the last quarter. Creative Capital Management Investments LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $30,000. Horizons Wealth Management bought a new position in JPMorgan Chase & Co. during the 2nd quarter worth approximately $39,000. Finally, New Millennium Group LLC bought a new position in JPMorgan Chase & Co. during the 2nd quarter worth approximately $39,000. 67.89% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on JPM. StockNews.com began coverage on JPMorgan Chase & Co. in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Oppenheimer reduced their price target on JPMorgan Chase & Co. from $186.00 to $157.00 and set an “outperform” rating on the stock in a research report on Thursday, March 23rd. Wells Fargo & Company upgraded JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $148.00 to $155.00 in a research report on Monday, March 13th. Morgan Stanley lifted their price objective on JPMorgan Chase & Co. from $167.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, February 24th. Finally, UBS Group set a $156.00 price objective on JPMorgan Chase & Co. in a research report on Friday, January 13th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.28.
JPMorgan Chase & Co. Trading Up 1.2 %
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.46. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The company had revenue of $34.55 billion for the quarter, compared to analyst estimates of $34.23 billion. During the same period in the previous year, the company posted $3.33 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. Research analysts forecast that JPMorgan Chase & Co. will post 12.9 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Shareholders of record on Thursday, April 6th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.07%. The ex-dividend date is Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 33.11%.
Insiders Place Their Bets
In related news, Director Mellody L. Hobson bought 375 shares of the company’s stock in a transaction on Thursday, January 19th. The shares were acquired at an average cost of $134.53 per share, with a total value of $50,448.75. Following the completion of the acquisition, the director now owns 22,040 shares of the company’s stock, valued at approximately $2,965,041.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Mary E. Erdoes sold 10,340 shares of the company’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $140.29, for a total transaction of $1,450,598.60. Following the transaction, the chief executive officer now directly owns 544,136 shares of the company’s stock, valued at $76,336,839.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mellody L. Hobson purchased 375 shares of the stock in a transaction dated Thursday, January 19th. The shares were acquired at an average cost of $134.53 per share, for a total transaction of $50,448.75. Following the completion of the acquisition, the director now owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 37,887 shares of company stock valued at $5,315,762. 0.79% of the stock is currently owned by corporate insiders.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co is a financial holding company, which engages in providing financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.
Read More
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