Cornerstone Investment Partners LLC Has $54.53 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Cornerstone Investment Partners LLC trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 21.0% in the fourth quarter, HoldingsChannel reports. The firm owned 320,548 shares of the financial services provider’s stock after selling 85,387 shares during the period. JPMorgan Chase & Co. makes up 3.1% of Cornerstone Investment Partners LLC’s portfolio, making the stock its 15th biggest position. Cornerstone Investment Partners LLC’s holdings in JPMorgan Chase & Co. were worth $54,525,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JPM. Stone House Investment Management LLC increased its stake in shares of JPMorgan Chase & Co. by 132.8% in 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 period. Macroview Investment Management LLC increased its stake in shares of JPMorgan Chase & Co. by 7,833.3% in the 3rd quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock valued at $34,000 after buying an additional 235 shares during the period. Rakuten Securities Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $44,000. Briaud Financial Planning Inc bought a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth $40,000. Finally, Morton Brown Family Wealth LLC boosted its position in shares of JPMorgan Chase & Co. by 2,308.3% in the 4th quarter. Morton Brown Family Wealth LLC now owns 289 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 277 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

JPM opened at $193.28 on Friday. JPMorgan Chase & Co. has a 52-week low of $131.81 and a 52-week high of $200.94. The firm has a market capitalization of $555.12 billion, a PE ratio of 11.67, a PEG ratio of 2.42 and a beta of 1.15. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.92. The business’s 50-day simple moving average is $190.07 and its 200 day simple moving average is $170.23.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.38%. The ex-dividend date is Thursday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.78%.

Analyst Upgrades and Downgrades

JPM has been the topic of several recent research reports. Morgan Stanley reduced their price target on JPMorgan Chase & Co. from $221.00 to $216.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. UBS Group decreased their target price on JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $185.00 target price on shares of JPMorgan Chase & Co. in a research note on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and boosted their target price for the company from $140.00 to $190.00 in a research note on Tuesday, January 9th. Finally, Barclays boosted their target price on JPMorgan Chase & Co. from $186.00 to $212.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $192.05.

Insider Buying and Selling

In related news, CEO James Dimon sold 178,222 shares of the company’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other JPMorgan Chase & Co. news, CEO Jennifer Piepszak sold 1,648 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $294,926.08. Following the sale, the chief executive officer now owns 32,819 shares in the company, valued at $5,873,288.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James Dimon sold 178,222 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $184.18, for a total value of $32,824,927.96. Following the completion of the sale, the chief executive officer now owns 264,461 shares in the company, valued at approximately $48,708,426.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,020,696 shares of company stock worth $186,794,151. Corporate insiders own 0.79% of the company’s stock.

About JPMorgan Chase & Co.

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.