Hidden Cove Wealth Management LLC Makes New Investment in JPMorgan Chase & Co. (NYSE:JPM)

Hidden Cove Wealth Management LLC purchased a new position in JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,646 shares of the financial services provider’s stock, valued at approximately $634,000. JPMorgan Chase & Co. makes up approximately 0.5% of Hidden Cove Wealth Management LLC’s holdings, making the stock its 25th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of JPM. Rappaport Reiches Capital Management LLC raised its holdings in JPMorgan Chase & Co. by 3.8% in the 4th quarter. Rappaport Reiches Capital Management LLC now owns 1,068 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 39 shares in the last quarter. Yoder Wealth Management Inc. increased its stake in shares of JPMorgan Chase & Co. by 2.8% in the 4th quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 39 shares in the last quarter. Almanack Investment Partners LLC. increased its stake in shares of JPMorgan Chase & Co. by 0.8% in the 4th quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider’s stock worth $1,233,000 after acquiring an additional 39 shares in the last quarter. Powers Advisory Group LLC increased its stake in shares of JPMorgan Chase & Co. by 0.7% in the 4th quarter. Powers Advisory Group LLC now owns 6,131 shares of the financial services provider’s stock worth $1,470,000 after acquiring an additional 42 shares in the last quarter. Finally, Financial Avengers Inc. increased its stake in shares of JPMorgan Chase & Co. by 5.2% in the 3rd quarter. Financial Avengers Inc. now owns 868 shares of the financial services provider’s stock worth $183,000 after acquiring an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the sale, the insider now owns 50,377 shares in the company, valued at approximately $13,606,323.93. This trade represents a 2.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jennifer Piepszak sold 4,273 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the sale, the chief operating officer now owns 54,469 shares in the company, valued at approximately $14,698,459.65. The trade was a 7.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,326 shares of company stock worth $12,448,445. Company insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on JPM shares. Keefe, Bruyette & Woods increased their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Bank of America increased their price target on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research note on Friday, January 3rd. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $251.78.

JPMorgan Chase & Co. Stock Performance

JPM opened at $264.14 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The company has a market cap of $738.56 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 2.96 and a beta of 1.12. The company’s 50 day moving average is $256.12 and its 200 day moving average is $234.96. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.04 earnings per share. On average, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 25.33%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of 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.