Cornerstone Planning LLC Takes $4.58 Million Position in JPMorgan Chase & Co. $JPM

Cornerstone Planning LLC bought a new position in JPMorgan Chase & Co. (NYSE:JPM) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 14,179 shares of the financial services provider’s stock, valued at approximately $4,581,000. JPMorgan Chase & Co. accounts for about 1.0% of Cornerstone Planning LLC’s holdings, making the stock its 27th biggest holding.

Other institutional investors also recently modified their holdings of the company. Morgan Stanley grew its holdings in JPMorgan Chase & Co. by 1.4% in the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock worth $21,390,662,000 after purchasing an additional 939,421 shares during the period. Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $11,396,496,000. Bank of New York Mellon Corp lifted its holdings in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock valued at $7,547,837,000 after purchasing an additional 1,194,583 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of JPMorgan Chase & Co. by 0.6% during the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock valued at $6,128,484,000 after purchasing an additional 110,586 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of JPMorgan Chase & Co. by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider’s stock worth $5,161,532,000 after purchasing an additional 296,213 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Key JPMorgan Chase & Co. News

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

Insiders Place Their Bets

In related news, General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction 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 $13,940,935.56. This trade represents a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the sale, the chief financial officer owned 32,438 shares of the company’s stock, valued at $10,036,641.58. The trade was a 8.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 28,156 shares of company stock valued at $8,619,735. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on JPM. Jefferies Financial Group restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Robert W. Baird set a $295.00 target price on JPMorgan Chase & Co. in a report on Wednesday, April 15th. Autonomous Res dropped their target price on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. Finally, Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. Fourteen investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $339.08.

JPMorgan Chase & Co. Trading Up 0.0%

Shares of NYSE JPM opened at $325.28 on Monday. The firm’s 50 day moving average price is $309.17 and its 200-day moving average price is $307.68. The company has a market cap 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. has a 52-week low of $272.11 and a 52-week high of $338.09. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, beating analysts’ consensus estimates of $5.50 by $0.44. The firm had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.07 earnings per share. On average, equities research analysts expect that JPMorgan Chase & Co. will post 22.44 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.74%.

JPMorgan Chase & Co. Company Profile

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.