JPMorgan Chase & Co. (NYSE:JPM) Stock Position Trimmed by Cornerstone Advisors LLC

Cornerstone Advisors LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 155,900 shares of the financial services provider’s stock after selling 5,200 shares during the quarter. JPMorgan Chase & Co. comprises about 1.3% of Cornerstone Advisors LLC’s portfolio, making the stock its 10th largest position. Cornerstone Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $31,532,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Retirement Group LLC grew its position in JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares during the last quarter. Richardson Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the 1st quarter worth about $34,000. Anfield Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the 2nd quarter valued at about $34,000. Davidson Capital Management Inc. purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $37,000. Finally, Vermillion & White Wealth Management Group LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter worth about $40,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on JPM. Evercore ISI increased their price objective on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Morgan Stanley cut their price target on JPMorgan Chase & Co. from $226.00 to $220.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Jefferies Financial Group raised their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Finally, StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.06.

JPMorgan Chase & Co. Trading Up 0.2 %

Shares of NYSE:JPM opened at $210.98 on Friday. The business’s 50-day moving average is $211.61 and its 200 day moving average is $201.64. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $225.48. The firm has a market capitalization of $605.86 billion, a P/E ratio of 11.77, a P/E/G ratio of 2.33 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating the consensus estimate of $4.19 by $1.93. The firm had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same period last year, the firm posted $4.37 EPS. On average, research analysts predict that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be paid a dividend of $1.25 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Friday, October 4th. JPMorgan Chase & Co.’s payout ratio is presently 25.66%.

JPMorgan Chase & Co. Company Profile

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.