Cornerstone Investment Partners LLC Cuts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Cornerstone Investment Partners LLC lowered its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 21.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 320,548 shares of the financial services provider's stock after selling 85,387 shares during the period. JPMorgan Chase & Co. accounts for 3.1% of Cornerstone Investment Partners LLC's holdings, making the stock its 15th largest holding. Cornerstone Investment Partners LLC's holdings in JPMorgan Chase & Co. were worth $54,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Morgan Stanley grew its holdings in shares of JPMorgan Chase & Co. by 0.3% during the 3rd quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider's stock valued at $9,127,754,000 after purchasing an additional 201,441 shares during the last quarter. FMR LLC raised its stake in JPMorgan Chase & Co. by 1.2% during the third quarter. FMR LLC now owns 49,417,639 shares of the financial services provider's stock valued at $7,166,546,000 after purchasing an additional 606,382 shares in the last quarter. Wellington Management Group LLP increased its position in JPMorgan Chase & Co. by 12.2% during the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider's stock valued at $6,151,997,000 after acquiring an additional 4,603,090 shares during the last quarter. Northern Trust Corp lifted its stake in JPMorgan Chase & Co. by 2.7% in the third quarter. Northern Trust Corp now owns 33,089,310 shares of the financial services provider's stock worth $4,798,612,000 after acquiring an additional 871,091 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of JPMorgan Chase & Co. by 2.0% during the third quarter. Ameriprise Financial Inc. now owns 23,724,676 shares of the financial services provider's stock valued at $3,442,313,000 after buying an additional 457,184 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $182.00 to $195.00 and gave the stock a "market perform" rating in a research note on Friday, April 5th. Evercore ISI boosted their price objective on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the stock an "outperform" rating in a research report on Thursday, April 4th. Piper Sandler cut their price target on JPMorgan Chase & Co. from $220.00 to $215.00 and set an "overweight" rating for the company in a research note on Monday, April 15th. Jefferies Financial Group raised their price target on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the company a "buy" rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an "overweight" rating in a research note on Wednesday, March 20th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $192.05.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock traded up $0.13 during midday trading on Friday, reaching $193.50. 6,413,274 shares of the company were exchanged, compared to its average volume of 9,430,338. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.92. The company's 50 day moving average price is $190.36 and its two-hundred day moving average price is $170.57. JPMorgan Chase & Co. has a 12 month low of $131.81 and a 12 month high of $200.94. The company has a market cap of $555.75 billion, a P/E ratio of 11.68, a PEG ratio of 2.43 and a beta of 1.15.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.38%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, April 4th. JPMorgan Chase & Co.'s payout ratio is currently 27.78%.

Insider Activity

In other JPMorgan Chase & Co. news, CEO Jennifer Piepszak sold 1,648 shares of the firm's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $294,926.08. Following the completion of the sale, the chief executive officer now owns 32,819 shares in the company, valued at approximately $5,873,288.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO James Dimon sold 178,222 shares of the business's stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $184.18, for a total value of $32,824,927.96. Following the completion of the sale, the chief executive officer now owns 264,461 shares of the company's stock, valued at $48,708,426.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jennifer Piepszak sold 1,648 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $178.96, for a total transaction of $294,926.08. Following the completion of the transaction, the chief executive officer now directly owns 32,819 shares of the company's stock, valued at approximately $5,873,288.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,020,696 shares of company stock valued at $186,794,151. Insiders own 0.79% of the company's stock.

JPMorgan Chase & Co. 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.