Cornerstone Planning Group LLC Raises Position in JPMorgan Chase & Co. (NYSE:JPM)

Cornerstone Planning Group LLC raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,326 shares of the financial services provider’s stock after acquiring an additional 419 shares during the quarter. JPMorgan Chase & Co. makes up 0.3% of Cornerstone Planning Group LLC’s portfolio, making the stock its 28th largest holding. Cornerstone Planning Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,283,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Dogwood Wealth Management LLC raised its position in shares of JPMorgan Chase & Co. by 3.0% during the 1st quarter. Dogwood Wealth Management LLC now owns 5,885 shares of the financial services provider’s stock valued at $1,444,000 after purchasing an additional 174 shares during the period. Principal Securities Inc. raised its position in shares of JPMorgan Chase & Co. by 0.4% during the 1st quarter. Principal Securities Inc. now owns 77,523 shares of the financial services provider’s stock valued at $18,583,000 after purchasing an additional 330 shares during the period. Greenleaf Trust raised its position in shares of JPMorgan Chase & Co. by 3.8% during the 1st quarter. Greenleaf Trust now owns 134,574 shares of the financial services provider’s stock valued at $33,011,000 after purchasing an additional 4,895 shares during the period. TradeWell Securities LLC. raised its position in shares of JPMorgan Chase & Co. by 0.6% during the 1st quarter. TradeWell Securities LLC. now owns 11,569 shares of the financial services provider’s stock valued at $2,838,000 after purchasing an additional 65 shares during the period. Finally, New Insight Wealth Advisors raised its position in shares of JPMorgan Chase & Co. by 8.3% during the 1st quarter. New Insight Wealth Advisors now owns 2,790 shares of the financial services provider’s stock valued at $684,000 after purchasing an additional 215 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the sale, the chief operating officer owned 62,455 shares in the company, valued at approximately $16,392,563.85. The trade was a 8.94% 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 business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the director owned 91,539 shares of the company’s stock, valued at approximately $22,884,750. This represents a 9.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $288.60 on Tuesday. The stock has a market cap of $802.06 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 2.62 and a beta of 1.10. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $296.40. The firm has a 50-day moving average of $271.71 and a two-hundred day moving average of $256.81.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.63 by $0.44. The company had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $4.44 EPS. On average, research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.94%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.49%.

Analysts Set New Price Targets

JPM has been the topic of several recent analyst reports. Piper Sandler restated a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an “outperform” rating in a research report on Monday, July 7th. Bank of America raised their price objective on shares of JPMorgan Chase & Co. from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, June 18th. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Monday, July 7th. Finally, Morgan Stanley set a $240.00 price target on shares of JPMorgan Chase & Co. and gave the company an “equal weight” rating in a report on Monday, July 7th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $284.42.

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.