JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 27.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,049 shares of the financial services provider’s stock after selling 10,762 shares during the quarter. JPMorgan Chase & Co. makes up 0.9% of Cornercap Investment Counsel Inc.’s holdings, making the stock its 3rd largest holding. Cornercap Investment Counsel Inc.’s holdings in JPMorgan Chase & Co. were worth $5,673,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Retirement Group LLC boosted its position in shares of JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares during the period. Richardson Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth about $34,000. Anfield Capital Management LLC purchased a new position in JPMorgan Chase & Co. during the 2nd quarter valued at about $34,000. Davidson Capital Management Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $37,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $40,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on JPM. Keefe, Bruyette & Woods boosted their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. BMO Capital Markets increased their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Jefferies Financial Group boosted their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Robert W. Baird raised their price target on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Finally, Citigroup boosted their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $211.06.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $207.86 on Tuesday. The company’s fifty day moving average is $211.40 and its two-hundred day moving average is $201.19. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $225.48. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $596.90 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 2.33 and a beta of 1.12.

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

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.