Cove Street Capital LLC Reduces Holdings in JPMorgan Chase & Co. (JPM)

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Cove Street Capital LLC decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.5% during the 1st quarter, Holdings Channel reports. The firm owned 81,351 shares of the financial services provider’s stock after selling 11,590 shares during the quarter. Cove Street Capital LLC’s holdings in JPMorgan Chase & Co. were worth $8,946,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of JPM. Keeler Thomas Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $112,000. Financial Gravity Wealth Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $150,000. FSI Group LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $159,000. Stelac Advisory Services LLC acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $162,000. Finally, Private Ocean LLC boosted its stake in shares of JPMorgan Chase & Co. by 94.7% during the first quarter. Private Ocean LLC now owns 1,694 shares of the financial services provider’s stock worth $186,000 after buying an additional 824 shares during the period. 72.00% of the stock is currently owned by institutional investors.

In related news, Director Chase & Co Jpmorgan purchased 22,000 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, May 31st. The stock was bought at an average cost of $1,000.00 per share, for a total transaction of $22,000,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gordon Smith sold 30,725 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $114.01, for a total transaction of $3,502,957.25. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

JPM stock opened at $114.62 on Tuesday. JPMorgan Chase & Co. has a 12-month low of $88.08 and a 12-month high of $119.33. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $397.18 billion, a PE ratio of 16.68, a P/E/G ratio of 1.90 and a beta of 1.24.

Several equities research analysts have recently weighed in on JPM shares. Morgan Stanley decreased their target price on shares of JPMorgan Chase & Co. from $138.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, April 30th. Zacks Investment Research downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Credit Suisse Group set a $130.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Thursday, July 12th. Goldman Sachs Group restated a “neutral” rating and issued a $124.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 16th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $120.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $120.23.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

Further Reading: Closed-End Mutual Funds

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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