Cornerstone Advisors LLC Buys 6,789 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Cornerstone Advisors increased its JPMorgan stake by 3.8%, purchasing 6,789 shares to hold 184,785 shares worth approximately $60.5 million. JPM represents 2.0% of the firm’s portfolio.
• JPMorgan reported quarterly EPS of $6.14, exceeding the $5.59 consensus estimate, while revenue of $58.02 billion rose 27.7% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $359.96.
• Institutional investors own 71.55% of JPMorgan’s stock, while insiders sold 10,467 shares worth approximately $3.6 million over the past three months, primarily through pre-arranged trading plans.

Cornerstone Advisors LLC grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 184,785 shares of the financial services provider's stock after purchasing an additional 6,789 shares during the period. JPMorgan Chase & Co. makes up 2.0% of Cornerstone Advisors LLC's investment portfolio, making the stock its 11th biggest holding. Cornerstone Advisors LLC's holdings in JPMorgan Chase & Co. were worth $60,486,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in JPM. Timmons Wealth Management LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $27,000. MBM Wealth Consultants LLC bought a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $32,000. Aventus Investment Advisors Inc. acquired a new position in shares of JPMorgan Chase & Co. during the second quarter worth approximately $33,000. Finally, Osbon Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.2%

Shares of JPM opened at $356.77 on Monday. The business has a 50-day moving average of $352.26 and a 200 day moving average of $322.29. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $366.50. The firm has a market cap of $948.37 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 1.47 and a beta of 0.98. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.59 by $0.55. The business had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The company's revenue was up 27.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.96 earnings per share. As a group, research analysts forecast that JPMorgan Chase & Co. will post 24.3 EPS for the current year.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 2,500 shares of the company's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total transaction of $882,025.00. Following the sale, the insider directly owned 71,047 shares in the company, valued at approximately $25,066,092.07. This represents a 3.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the firm's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of the transaction, the general counsel directly owned 40,961 shares of the company's stock, valued at approximately $13,547,031.53. This trade represents a 11.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 10,467 shares of company stock worth $3,593,651. Insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on JPM shares. UBS Group upped their price objective on shares of JPMorgan Chase & Co. from $384.00 to $400.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Robert W. Baird boosted their target price on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Citigroup boosted their target price on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Morgan Stanley reaffirmed a "positive" rating and issued a $370.00 price target on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 15th. Finally, Weiss Ratings raised shares of JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a research report on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $359.96.

Key Stories Impacting JPMorgan Chase & Co.

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan’s profitability and capital-return capacity remain major supports. Recent coverage highlighted approximately $16.9 billion in quarterly profit, with dividends consuming only a portion of earnings, leaving room for reinvestment, buybacks and future distributions. JPMorgan earnings and dividend coverage
• Positive Sentiment: The bank is expanding its European corporate-banking operations, including a reported 25% staffing increase and a push into Greece. The strategy could create additional lending, payments, investment-banking and cross-selling revenue over time. JPMorgan Greece expansion
• Positive Sentiment: Wall Street sentiment remains constructive, with JPMorgan described as a well-capitalized bank trading at an attractive valuation relative to its earnings, scale and exposure to investment banking, asset management and higher interest rates. The average analyst rating is “Moderate Buy.” JPMorgan analyst sentiment
• Neutral Sentiment: Insider Robin Leopold sold 2,500 shares for approximately $882,000 under a pre-arranged Rule 10b5-1 trading plan. The sale reduced her direct holdings by 3.4%, but its planned nature makes it a limited signal about management’s outlook. JPMorgan insider transaction
• Negative Sentiment: JPMorgan strategists warned that the equity risk premium has fallen to its lowest level since 2002. The unusually narrow compensation for owning stocks instead of bonds could limit broad market upside and increase sensitivity to disappointing economic or earnings news. JPMorgan equity risk premium warning
• Negative Sentiment: The bank’s decision to contest pressure from the Trump administration may protect its independence but could bring additional litigation, regulatory and political costs. JPMorgan political and legal risks

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, lending, payments, investment banking, asset management and wealth management services to consumers, businesses, institutional clients and governments.

The company operates through four primary business areas: Consumer & Community Banking; Commercial & Investment Banking; Asset & Wealth Management; and Corporate. Its offerings include deposit accounts, credit cards, mortgages, auto loans, business banking, commercial lending, treasury services, investment banking, securities trading, investment management and private banking.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across numerous international markets.

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