Cornerstone Advisory LLC Grows Holdings in JPMorgan Chase & Co. $JPM

Cornerstone Advisory LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,302 shares of the financial services provider’s stock after purchasing an additional 220 shares during the quarter. Cornerstone Advisory LLC’s holdings in JPMorgan Chase & Co. were worth $3,857,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of JPM. Brighton Jones LLC raised its position in JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after purchasing an additional 4,841 shares during the last quarter. Ironwood Wealth Management LLC. raised its position in JPMorgan Chase & Co. by 0.7% in the 1st quarter. Ironwood Wealth Management LLC. now owns 15,400 shares of the financial services provider’s stock valued at $3,778,000 after purchasing an additional 107 shares during the last quarter. Acorns Advisers LLC raised its position in JPMorgan Chase & Co. by 6.9% in the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 100 shares during the last quarter. Cairn Investment Group Inc. purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $873,000. Finally, IRON Financial LLC raised its position in JPMorgan Chase & Co. by 1.6% in the 1st quarter. IRON Financial LLC now owns 8,985 shares of the financial services provider’s stock valued at $2,204,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Morgan Stanley boosted their price objective on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. KGI Securities boosted their target price on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Finally, Evercore ISI increased their target price on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $322.27.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $311.47 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a fifty-two week low of $202.16 and a fifty-two week high of $318.01. The stock has a market cap of $856.48 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.84 and a beta of 1.13. The firm’s fifty day simple moving average is $304.92 and its 200-day simple moving average is $284.86.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business had revenue of $46.43 billion for the quarter, compared to analysts’ expectations of $44.42 billion. During the same period in the prior year, the company posted $4.37 EPS. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were paid a dividend of $1.50 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.72%.

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.