Coastal Bridge Advisors LLC Has $2.58 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Coastal Bridge Advisors LLC grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,521 shares of the financial services provider’s stock after acquiring an additional 425 shares during the quarter. Coastal Bridge Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $2,581,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $28,000. Redwood Park Advisors LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $29,000. Curat Global LLC bought a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $33,000. Investment Counsel Co. of Nevada bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $37,000. Finally, Measured Risk Portfolios Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $44,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on JPM. UBS Group increased their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Evercore ISI set a $298.00 price target on shares of JPMorgan Chase & Co. and gave the company an “outperform” rating in a research note on Monday, July 7th. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a “buy” rating and a $305.00 price objective for the company. TD Securities reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Finally, Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Monday, July 7th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $288.68.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $291.44 on Thursday. The company’s 50-day moving average price is $282.79 and its two-hundred day moving average price is $262.34. The firm has a market cap of $809.93 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.94 and a beta of 1.11. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 12 month low of $200.20 and a 12 month high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) 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 business had revenue of $44.91 billion for the quarter, compared to analysts’ expectations of $43.76 billion. During the same period last year, the firm posted $6.12 earnings per share. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.73%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer owned 62,455 shares of the company’s stock, valued at $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 2,821 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $749,567.91. Following the completion of the sale, the general counsel owned 68,757 shares in the company, valued at $18,269,422.47. This trade represents a 3.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,557 shares of company stock valued at $4,113,796. 0.47% of the stock is owned by corporate insiders.

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.