JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 27.7% during the second quarter, Holdings Channel reports. The firm owned 28,049 shares of the financial services provider’s stock after selling 10,762 shares during the period. JPMorgan Chase & Co. comprises 0.9% of Cornercap Investment Counsel Inc.’s holdings, making the stock its 3rd biggest holding. Cornercap Investment Counsel Inc.’s holdings in JPMorgan Chase & Co. were worth $5,673,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wellington Wealth Strategies LLC. bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $1,145,000. Cooper Financial Group raised its stake in shares of JPMorgan Chase & Co. by 12.8% in the first quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after acquiring an additional 984 shares during the last quarter. Spartan Planning & Wealth Management boosted its holdings in shares of JPMorgan Chase & Co. by 257.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock worth $643,000 after acquiring an additional 2,722 shares in the last quarter. jvl associates llc grew its position in JPMorgan Chase & Co. by 59.8% during the 1st quarter. jvl associates llc now owns 1,911 shares of the financial services provider’s stock worth $383,000 after acquiring an additional 715 shares during the last quarter. Finally, MMA Asset Management LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $207,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of recent analyst reports. Citigroup boosted their price objective on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $235.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, September 3rd. Jefferies Financial Group upped their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Robert W. Baird raised their price target on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Finally, StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.06.

JPMorgan Chase & Co. Price Performance

JPM opened at $207.86 on Tuesday. The stock has a market cap of $596.90 billion, a P/E ratio of 11.59, a P/E/G ratio of 2.33 and a beta of 1.12. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $225.48. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The company has a fifty day simple moving average of $211.40 and a 200 day simple moving average of $201.19.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) 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 the consensus estimate of $42.23 billion. During the same period in the prior year, the company earned $4.37 earnings per share. On average, research analysts expect that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

JPMorgan Chase & Co. Company Profile

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.