Cornerstone Advisors Inc. Has $1.18 Million Stake in JPMorgan Chase & Co. (JPM)

Cornerstone Advisors Inc. decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 15.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 10,424 shares of the financial services provider’s stock after selling 1,937 shares during the period. JPMorgan Chase & Co. accounts for about 0.8% of Cornerstone Advisors Inc.’s holdings, making the stock its 20th largest position. Cornerstone Advisors Inc.’s holdings in JPMorgan Chase & Co. were worth $1,176,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Hawaiian Bank grew its holdings in JPMorgan Chase & Co. by 384.3% in the 3rd quarter. First Hawaiian Bank now owns 95,808 shares of the financial services provider’s stock valued at $10,811,000 after buying an additional 76,026 shares during the last quarter. Capital Planning Advisors LLC grew its holdings in JPMorgan Chase & Co. by 18.6% in the 2nd quarter. Capital Planning Advisors LLC now owns 14,951 shares of the financial services provider’s stock valued at $1,558,000 after buying an additional 2,349 shares during the last quarter. Watch Point Trust Co grew its holdings in JPMorgan Chase & Co. by 5.2% in the 3rd quarter. Watch Point Trust Co now owns 35,201 shares of the financial services provider’s stock valued at $3,972,000 after buying an additional 1,738 shares during the last quarter. BigSur Wealth Management LLC grew its holdings in JPMorgan Chase & Co. by 22.2% in the 3rd quarter. BigSur Wealth Management LLC now owns 25,313 shares of the financial services provider’s stock valued at $2,856,000 after buying an additional 4,600 shares during the last quarter. Finally, Congress Asset Management Co. MA grew its holdings in JPMorgan Chase & Co. by 1.4% in the 3rd quarter. Congress Asset Management Co. MA now owns 115,402 shares of the financial services provider’s stock valued at $13,022,000 after buying an additional 1,638 shares during the last quarter. 69.08% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:JPM opened at $106.55 on Friday. JPMorgan Chase & Co. has a 1-year low of $91.11 and a 1-year high of $119.24. The company has a market cap of $365.68 billion, a PE ratio of 11.84, a PEG ratio of 1.60 and a beta of 1.12. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.22.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, January 15th. The financial services provider reported $1.98 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.20 by ($0.22). JPMorgan Chase & Co. had a return on equity of 14.07% and a net margin of 24.71%. The firm had revenue of $26.10 billion for the quarter, compared to analyst estimates of $26.69 billion. During the same period in the previous year, the business posted $1.76 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 8.1% compared to the same quarter last year. Research analysts expect that JPMorgan Chase & Co. will post 9.73 EPS for the current year.

A number of analysts have issued reports on JPM shares. Atlantic Securities lowered JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report on Wednesday, December 19th. Barclays raised their target price on JPMorgan Chase & Co. from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, January 2nd. BMO Capital Markets lowered their target price on JPMorgan Chase & Co. from $124.00 to $123.00 and set a “market perform” rating on the stock in a report on Wednesday, January 16th. Morgan Stanley lowered their target price on JPMorgan Chase & Co. from $131.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday, January 8th. Finally, Jefferies Financial Group lowered JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $101.20 target price on the stock. in a report on Tuesday, January 8th. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $122.87.

In other news, Director James S. Crown acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 5th. The shares were bought at an average price of $103.79 per share, with a total value of $518,950.00. Following the acquisition, the director now owns 311,447 shares of the company’s stock, valued at $32,325,084.13. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 3,022 shares of the firm’s stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $105.00, for a total value of $317,310.00. Following the transaction, the general counsel now owns 12,519 shares of the company’s stock, valued at approximately $1,314,495. The disclosure for this sale can be found here. Insiders have sold a total of 39,191 shares of company stock worth $4,102,110 in the last three months. 0.73% of the stock is owned by insiders.

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JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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