Cornerstone Wealth Group LLC Has $14.81 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Cornerstone Wealth Group LLC decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,359 shares of the financial services provider's stock after selling 1,833 shares during the period. JPMorgan Chase & Co. accounts for 1.2% of Cornerstone Wealth Group LLC's investment portfolio, making the stock its 15th biggest holding. Cornerstone Wealth Group LLC's holdings in JPMorgan Chase & Co. were worth $14,806,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vectors Research Management LLC boosted its holdings in JPMorgan Chase & Co. by 7.7% in the 1st quarter. Vectors Research Management LLC now owns 15,799 shares of the financial services provider's stock valued at $3,875,000 after purchasing an additional 1,133 shares during the period. Invesco LLC raised its stake in JPMorgan Chase & Co. by 3.9% during the first quarter. Invesco LLC now owns 13,179 shares of the financial services provider's stock worth $3,233,000 after acquiring an additional 498 shares in the last quarter. Navis Wealth Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 94.2% during the 1st quarter. Navis Wealth Advisors LLC now owns 4,652 shares of the financial services provider's stock valued at $1,141,000 after purchasing an additional 2,256 shares during the last quarter. Hi Line Capital Management LLC raised its stake in shares of JPMorgan Chase & Co. by 2.2% in the first quarter. Hi Line Capital Management LLC now owns 28,531 shares of the financial services provider's stock valued at $6,999,000 after acquiring an additional 601 shares during the last quarter. Finally, Helen Stephens Group LLC boosted its stake in JPMorgan Chase & Co. by 1.5% in the first quarter. Helen Stephens Group LLC now owns 4,596 shares of the financial services provider's stock worth $1,127,000 after purchasing an additional 68 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

JPM traded down $0.72 on Tuesday, reaching $289.19. The company had a trading volume of 3,855,682 shares, compared to its average volume of 10,262,131. The stock has a market cap of $803.67 billion, a P/E ratio of 14.19, a P/E/G ratio of 2.67 and a beta of 1.08. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $292.65. The company's fifty day moving average is $262.77 and its 200 day moving average is $253.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. The business 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 business's revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.44 EPS. As a group, analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. JPMorgan Chase & Co.'s payout ratio is 27.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on JPM shares. 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. UBS Group boosted their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday. Finally, Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an "overweight" rating in a research note on Tuesday, June 10th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $273.15.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer owned 62,455 shares of the company's stock, valued at $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Stacey Friedman sold 2,821 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the transaction, the general counsel owned 68,757 shares of the company's stock, valued at $18,269,422.47. The trade was a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,200 shares of company stock valued at $18,060,015. Company insiders own 0.47% of the company's stock.

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.