Cornerstone Advisors LLC Purchases 14,800 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Cornerstone Advisors LLC increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 170,700 shares of the financial services provider’s stock after purchasing an additional 14,800 shares during the period. JPMorgan Chase & Co. makes up about 1.4% of Cornerstone Advisors LLC’s portfolio, making the stock its 12th biggest holding. Cornerstone Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $35,994,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Mizuho Securities Co. Ltd. acquired a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth approximately $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $27,000. Fairway Wealth LLC bought a new position in JPMorgan Chase & Co. during the 2nd quarter worth $32,000. Anfield Capital Management LLC bought a new position in JPMorgan Chase & Co. during the 2nd quarter worth $34,000. Finally, West Financial Advisors LLC acquired a new position in JPMorgan Chase & Co. in the 3rd quarter valued at $37,000. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Evercore ISI raised their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Daiwa Capital Markets decreased their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $235.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, September 3rd. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average target price of $229.31.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $248.55 on Monday. The business has a 50 day moving average of $223.14 and a 200-day moving average of $212.01. The company has a market capitalization of $699.75 billion, a P/E ratio of 13.83, a P/E/G ratio of 3.55 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $152.71 and a 1 year high of $249.15. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.35. The firm had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $4.33 EPS. On average, equities research analysts predict that JPMorgan Chase & Co. will post 17.62 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a yield of 2.01%. JPMorgan Chase & Co.’s payout ratio is presently 27.82%.

About JPMorgan Chase & Co.

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.