Cornerstone Advisors LLC Acquires 1,500 Shares of JPMorgan Chase & Co. $JPM

Cornerstone Advisors LLC raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 172,200 shares of the financial services provider’s stock after buying an additional 1,500 shares during the quarter. JPMorgan Chase & Co. comprises 1.7% of Cornerstone Advisors LLC’s holdings, making the stock its 8th largest position. Cornerstone Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $49,923,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC increased its stake in JPMorgan Chase & Co. by 11.0% during 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 in the last quarter. Acorns Advisers LLC grew its holdings in shares of JPMorgan Chase & Co. by 6.9% during the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock valued at $379,000 after buying an additional 100 shares during the last quarter. Gries Financial LLC increased its position in shares of JPMorgan Chase & Co. by 11.9% in the 1st quarter. Gries Financial LLC now owns 7,871 shares of the financial services provider’s stock valued at $1,931,000 after acquiring an additional 837 shares during the period. Vista Capital Partners Inc. increased its position in shares of JPMorgan Chase & Co. by 6.4% in the 1st quarter. Vista Capital Partners Inc. now owns 3,625 shares of the financial services provider’s stock valued at $889,000 after acquiring an additional 219 shares during the period. Finally, Van Strum & Towne Inc. raised its stake in JPMorgan Chase & Co. by 4.3% in the 1st quarter. Van Strum & Towne Inc. now owns 39,773 shares of the financial services provider’s stock worth $9,756,000 after acquiring an additional 1,644 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Activity

In related news, insider Robin Leopold sold 966 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the completion of the transaction, the insider owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. This represents a 1.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on JPM shares. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $345.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Citigroup lifted their target price on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Loop Capital set a $310.00 price target on shares of JPMorgan Chase & Co. in a report on Thursday, October 23rd. KGI Securities raised their price target on shares of 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, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, November 19th. Fifteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $326.38.

JPMorgan Chase & Co. Trading Down 0.0%

Shares of NYSE:JPM opened at $297.93 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $322.25. The business has a 50 day moving average of $307.20 and a two-hundred day moving average of $292.10. The company has a market capitalization of $811.04 billion, a PE ratio of 14.76, a PEG ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $47.12 billion during the quarter, compared to analyst estimates of $44.42 billion. During the same period in the previous year, the firm earned $4.37 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date was Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

About JPMorgan Chase & Co.

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.