JPMorgan Chase & Co. (NYSE:JPM) Shares Acquired by Cornerstone Advisory LLC

Cornerstone Advisory LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,966 shares of the financial services provider’s stock after buying an additional 409 shares during the quarter. Cornerstone Advisory LLC’s holdings in JPMorgan Chase & Co. were worth $3,108,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Disciplined Investments LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at approximately $217,000. LGT Group Foundation boosted its holdings in JPMorgan Chase & Co. by 2.8% in the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock valued at $126,040,000 after purchasing an additional 14,300 shares in the last quarter. Kinsale Capital Group Inc. boosted its holdings in JPMorgan Chase & Co. by 11.1% in the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock valued at $10,483,000 after purchasing an additional 4,375 shares in the last quarter. Jag Capital Management LLC boosted its holdings in JPMorgan Chase & Co. by 10.5% in the 4th quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock valued at $353,000 after purchasing an additional 140 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in JPMorgan Chase & Co. by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock valued at $938,491,000 after purchasing an additional 319,730 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on JPM. StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Robert W. Baird lifted their price objective on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a “neutral” rating in a research report on Tuesday. Evercore ISI lowered their target price on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. Finally, TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a “buy” rating and a $305.00 target price for the company. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.20.

JPMorgan Chase & Co. Stock Down 1.7%

Shares of NYSE JPM opened at $261.09 on Thursday. The firm has a fifty day moving average of $242.84 and a 200-day moving average of $247.77. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 52-week low of $190.88 and a 52-week high of $280.25. The stock has a market capitalization of $725.60 billion, a PE ratio of 13.23, a P/E/G ratio of 2.83 and a beta of 1.07.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. During the same quarter in the previous year, the business posted $4.44 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 2.14%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.49%.

Insider Activity

In other news, CEO Troy L. Rohrbaugh sold 25,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $247.02, for a total value of $6,175,500.00. Following the sale, the chief executive officer now owns 133,381 shares in the company, valued at approximately $32,947,774.62. This represents a 15.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 6,608 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 transaction of $1,755,811.68. Following the completion of the sale, the general counsel now owns 36,520 shares in the company, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,594 shares of company stock worth $23,991,061. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. 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.