Cornerstone Wealth Management LLC Sells 2,256 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Cornerstone Wealth Management LLC lowered its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 24,791 shares of the financial services provider’s stock after selling 2,256 shares during the period. Cornerstone Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $4,217,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of JPM. Macroview Investment Management LLC raised its position in shares of JPMorgan Chase & Co. by 7,833.3% in the third quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock valued at $34,000 after buying an additional 235 shares in the last quarter. Briaud Financial Planning Inc acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $40,000. FSC Wealth Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 290.9% in the third quarter. FSC Wealth Advisors LLC now owns 387 shares of the financial services provider’s stock valued at $56,000 after buying an additional 288 shares in the last quarter. Legacy Financial Group LLC bought a new position in JPMorgan Chase & Co. in the third quarter valued at approximately $58,000. Finally, Robbins Farley increased its stake in JPMorgan Chase & Co. by 29.5% in the third quarter. Robbins Farley now owns 421 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 96 shares during the last quarter. Institutional investors own 68.94% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $190.30 on Monday. The company’s fifty day simple moving average is $177.99 and its 200 day simple moving average is $160.89. JPMorgan Chase & Co. has a 12-month low of $123.11 and a 12-month high of $191.73. The firm has a market cap of $548.13 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 2.40 and a beta of 1.14. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last announced its quarterly earnings data on Friday, January 12th. The financial services provider reported $3.04 earnings per share for the quarter, missing the consensus estimate of $3.73 by ($0.69). JPMorgan Chase & Co. had a net margin of 20.70% and a return on equity of 17.80%. The company had revenue of $38.57 billion for the quarter, compared to analyst estimates of $39.73 billion. During the same quarter in the prior year, the company posted $3.57 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts expect that JPMorgan Chase & Co. will post 15.93 earnings per share for the current year.

Insider Activity

In related news, CEO Jennifer Piepszak sold 1,649 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $166.59, for a total value of $274,706.91. Following the sale, the chief executive officer now owns 34,467 shares in the company, valued at approximately $5,741,857.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other JPMorgan Chase & Co. news, CEO Jennifer Piepszak sold 1,649 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $166.59, for a total value of $274,706.91. Following the completion of the sale, the chief executive officer now directly owns 34,467 shares of the company’s stock, valued at approximately $5,741,857.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Peter Scher sold 1,810 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $178.96, for a total transaction of $323,917.60. Following the completion of the sale, the insider now owns 44,956 shares of the company’s stock, valued at approximately $8,045,325.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 845,383 shares of company stock worth $154,341,636. Company insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on JPM shares. Bank of America lifted their price objective on shares of JPMorgan Chase & Co. from $177.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Piper Sandler boosted their target price on shares of JPMorgan Chase & Co. from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $190.00 in a research note on Tuesday, January 9th. The Goldman Sachs Group reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, February 1st. Finally, Oppenheimer boosted their price objective on shares of JPMorgan Chase & Co. from $232.00 to $238.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $179.11.

Check Out Our Latest Research Report on JPMorgan Chase & Co.

JPMorgan Chase & Co. Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPMFree Report).

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

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.