Cornerstone Planning LLC Makes New Investment in JPMorgan Chase & Co. $JPM

Key Points

• Cornerstone Planning LLC bought a new stake in JPMorgan Chase during the fourth quarter, acquiring 14,179 shares valued at about $4.58 million. The position makes JPMorgan about 1.0% of the firm’s portfolio.
• JPMorgan’s latest quarterly results beat expectations, with EPS of $5.94 versus $5.50 expected and revenue of $50.54 billion versus $48.30 billion forecast. Revenue rose 10% year over year, and analysts now expect full-year EPS of 22.44.
• The bank also announced a quarterly dividend of $1.50 per share, payable July 31, implying an annualized dividend of $6.00 and a yield of about 1.8%. Meanwhile, insider selling continued, including trades by General Counsel Stacey Friedman and COO Jennifer Piepszak.

Cornerstone Planning LLC purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,179 shares of the financial services provider's stock, valued at approximately $4,581,000. JPMorgan Chase & Co. makes up about 1.0% of Cornerstone Planning LLC's portfolio, making the stock its 27th largest holding.

A number of other large investors have also recently modified their holdings of the business. Fidelis Capital Partners LLC grew its position in JPMorgan Chase & Co. by 7.9% in the fourth quarter. Fidelis Capital Partners LLC now owns 70,077 shares of the financial services provider's stock worth $22,580,000 after acquiring an additional 5,101 shares in the last quarter. Howard Capital Management Inc. increased its stake in JPMorgan Chase & Co. by 18.2% in the fourth quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider's stock valued at $8,308,000 after acquiring an additional 3,976 shares during the last quarter. Andra AP fonden raised its position in JPMorgan Chase & Co. by 3.2% during the third quarter. Andra AP fonden now owns 107,700 shares of the financial services provider's stock valued at $33,972,000 after purchasing an additional 3,300 shares in the last quarter. Newbridge Financial Services Group Inc. raised its position in JPMorgan Chase & Co. by 51.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider's stock valued at $2,862,000 after purchasing an additional 3,027 shares in the last quarter. Finally, Banco Santander S.A. lifted its stake in JPMorgan Chase & Co. by 9.0% during the third quarter. Banco Santander S.A. now owns 452,612 shares of the financial services provider's stock worth $142,767,000 after purchasing an additional 37,550 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $325.28 on Monday. The firm has a fifty day simple moving average of $309.17 and a two-hundred day simple moving average of $307.68. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a twelve month low of $272.11 and a twelve month high of $338.09. The company has a market capitalization of $871.58 billion, a PE ratio of 15.58, a P/E/G ratio of 1.51 and a beta of 1.00.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The firm had revenue of $50.54 billion during the quarter, compared to analysts' expectations of $48.30 billion. During the same period last year, the company posted $5.07 EPS. The company's quarterly revenue was up 10.0% compared to the same quarter last year. Research analysts expect that JPMorgan Chase & Co. will post 22.44 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, July 6th. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.74%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,468 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the sale, the general counsel directly owned 46,428 shares of the company's stock, valued at approximately $13,940,935.56. The trade was a 10.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 9,136 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total value of $2,800,732.16. Following the transaction, the chief operating officer owned 90,001 shares in the company, valued at $27,590,706.56. This trade represents a 9.22% decrease in their position. 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. Insiders sold a total of 28,156 shares of company stock valued at $8,619,735 over the last three months. Corporate insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of research reports. Truist Financial upped their price objective on JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a "hold" rating in a report on Wednesday, April 15th. Dbs Bank raised JPMorgan Chase & Co. to a "hold" rating in a report on Tuesday, May 12th. Daiwa Securities Group dropped their target price on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating for the company in a research report on Tuesday, April 7th. HSBC upped their target price on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a "hold" rating in a research note on Monday, May 4th. Finally, Piper Sandler increased their price target on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research report on Wednesday, April 15th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Hold" and a consensus price target of $339.08.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan was highlighted as a long-term favorite by multiple market commentators, with articles pointing to Jamie Dimon’s leadership, a strong balance sheet, and the bank’s durable profit record. Jamie Dimon’s Savvy Leadership, Bold Initiatives Keep JPMorgan Chase on Top
• Positive Sentiment: The bank’s planned expansion of the Chase digital bank into at least five European countries over the next five years suggests a new growth avenue that could widen its customer base and support future revenue. JPMorgan Chase & Co. (JPM) – Among the Top 10 Dividend Stocks to Buy According to Reddit
• Positive Sentiment: JPMorgan was also linked to a new Morningstar collaboration with Apollo and Franklin Templeton on model portfolios, reinforcing JPMorgan’s role in wealth-management product innovation. Morningstar (MORN) Teams Up With Apollo, Franklin Templeton, And JPMorgan On New Models
• Neutral Sentiment: Several articles simply reaffirmed JPMorgan as a top dividend or long-term holding, which is supportive sentiment but does not by itself change the near-term earnings outlook. Why JPMorgan Chase & Co. (JPM) is a Top Stock for the Long-Term
• Negative Sentiment: Offsetting the positives, the DOJ is probing transactions tied to a business network linked to Iran’s supreme leader, and JPMorgan was named in the coverage. That adds regulatory and reputational risk, which can pressure the shares if the investigation deepens. DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader's business network

About JPMorgan Chase & Co.

JPMorgan Chase & Co NYSE: JPM is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm's principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

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