Cornerstone Wealth Group LLC Has $12.06 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Cornerstone Wealth Group LLC lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,646 shares of the financial services provider’s stock after buying an additional 376 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.1% of Cornerstone Wealth Group LLC’s investment portfolio, making the stock its 20th largest holding. Cornerstone Wealth Group LLC’s holdings in JPMorgan Chase & Co. were worth $12,064,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Retirement Group LLC grew its stake in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares during the period. Richardson Capital Management LLC acquired a new position in JPMorgan Chase & Co. during the first quarter worth $34,000. Davidson Capital Management Inc. bought a new position in shares of JPMorgan Chase & Co. in the first quarter valued at $37,000. Kathleen S. Wright Associates Inc. bought a new position in shares of JPMorgan Chase & Co. in the first quarter valued at $40,000. Finally, Bare Financial Services Inc acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $35,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM traded up $1.68 during mid-day trading on Friday, hitting $218.31. The stock had a trading volume of 7,213,981 shares, compared to its average volume of 9,118,522. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $219.19. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.92. The business has a fifty day moving average price of $206.81 and a 200-day moving average price of $196.86. The firm has a market cap of $626.91 billion, a P/E ratio of 12.17, a PEG ratio of 2.42 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. During the same quarter last year, the firm posted $4.37 EPS. On average, equities research analysts expect that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

Insiders Place Their Bets

In other news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the sale, the insider now owns 212,265 shares of the company’s stock, valued at $42,355,358.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. UBS Group lifted their target price on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $211.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, May 21st. Robert W. Baird raised their price objective on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Finally, Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.71.

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.