Cornerstone Investment Partners LLC lifted its stake in J P Morgan Chase & Co (NYSE:JPM) by 0.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 889,420 shares of the financial services provider’s stock after purchasing an additional 811 shares during the period. J P Morgan Chase & Co comprises about 3.7% of Cornerstone Investment Partners LLC’s holdings, making the stock its 9th largest holding. Cornerstone Investment Partners LLC’s holdings in J P Morgan Chase & Co were worth $81,293,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Pacific Center for Financial Services raised its stake in J P Morgan Chase & Co by 14.5% in the first quarter. Pacific Center for Financial Services now owns 1,401 shares of the financial services provider’s stock valued at $123,000 after buying an additional 177 shares in the last quarter. Horrell Capital Management Inc. raised its stake in J P Morgan Chase & Co by 5.0% in the first quarter. Horrell Capital Management Inc. now owns 1,647 shares of the financial services provider’s stock valued at $145,000 after buying an additional 78 shares in the last quarter. Ullmann Financial Group Inc. acquired a new stake in J P Morgan Chase & Co in the first quarter valued at $148,000. Cordasco Financial Network raised its stake in J P Morgan Chase & Co by 496.7% in the second quarter. Cordasco Financial Network now owns 2,333 shares of the financial services provider’s stock valued at $213,000 after buying an additional 1,942 shares in the last quarter. Finally, Windsor Financial Group LLC acquired a new stake in J P Morgan Chase & Co in the first quarter valued at $224,000. Hedge funds and other institutional investors own 77.90% of the company’s stock.

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Shares of J P Morgan Chase & Co (NYSE:JPM) traded up 0.19% during midday trading on Thursday, hitting $95.36. The stock had a trading volume of 4,381,664 shares. The firm has a 50 day moving average of $91.64 and a 200-day moving average of $89.00. J P Morgan Chase & Co has a one year low of $65.11 and a one year high of $95.88. The company has a market cap of $335.52 billion, a P/E ratio of 14.07 and a beta of 1.19.

J P Morgan Chase & Co (NYSE:JPM) last issued its earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.23. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. J P Morgan Chase & Co had a net margin of 24.13% and a return on equity of 11.53%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $1.55 earnings per share. On average, analysts forecast that J P Morgan Chase & Co will post $6.80 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 6th will be paid a $0.56 dividend. This is a positive change from J P Morgan Chase & Co’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $2.24 dividend on an annualized basis and a yield of 2.35%. J P Morgan Chase & Co’s dividend payout ratio (DPR) is currently 29.59%.

In other news, CFO Marianne Lake sold 17,596 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $91.58, for a total transaction of $1,611,441.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nicole Giles sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $91.29, for a total transaction of $91,290.00. Following the transaction, the insider now owns 3,783 shares in the company, valued at approximately $345,350.07. The disclosure for this sale can be found here. Insiders sold a total of 28,564 shares of company stock valued at $2,605,334 in the last ninety days. Company insiders own 0.88% of the company’s stock.

JPM has been the topic of a number of analyst reports. Berenberg Bank set a $65.00 price target on J P Morgan Chase & Co and gave the company a “sell” rating in a research note on Thursday, August 3rd. Wells Fargo & Company initiated coverage on J P Morgan Chase & Co in a research note on Wednesday, August 9th. They issued an “outperform” rating and a $110.00 price target on the stock. Deutsche Bank AG restated a “buy” rating on shares of J P Morgan Chase & Co in a research note on Monday, July 3rd. Bank of America Corporation restated a “buy” rating and issued a $99.00 price target on shares of J P Morgan Chase & Co in a research note on Monday, July 17th. Finally, Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $93.00 price target on shares of J P Morgan Chase & Co in a research note on Thursday, July 6th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $87.10.

About J P Morgan Chase & Co

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

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Institutional Ownership by Quarter for J P Morgan Chase & Co (NYSE:JPM)

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