JPMorgan Chase & Co. $JPM is Plan Group Financial LLC’s 6th Largest Position

Plan Group Financial LLC decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,583 shares of the financial services provider’s stock after selling 1,719 shares during the quarter. JPMorgan Chase & Co. makes up 2.5% of Plan Group Financial LLC’s holdings, making the stock its 6th largest holding. Plan Group Financial LLC’s holdings in JPMorgan Chase & Co. were worth $12,302,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of JPM. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth $11,396,496,000. Bank of America Corp DE grew its stake in JPMorgan Chase & Co. by 15.8% in the first quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider’s stock valued at $19,314,681,000 after purchasing an additional 8,941,351 shares during the last quarter. Cardano Risk Management B.V. grew its stake in JPMorgan Chase & Co. by 889.3% in the fourth quarter. Cardano Risk Management B.V. now owns 8,673,530 shares of the financial services provider’s stock valued at $2,794,785,000 after purchasing an additional 7,796,814 shares during the last quarter. Ascentis Wealth Management LLC raised its holdings in JPMorgan Chase & Co. by 32,672.0% in the second quarter. Ascentis Wealth Management LLC now owns 4,647,071 shares of the financial services provider’s stock worth $1,521,126,000 after purchasing an additional 4,632,891 shares in the last quarter. Finally, American Assets Investment Management LLC raised its holdings in JPMorgan Chase & Co. by 1,172.2% in the fourth quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider’s stock worth $728,024,000 after purchasing an additional 2,081,800 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $358.21 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $952.19 billion, a PE ratio of 15.35, a P/E/G ratio of 1.49 and a beta of 0.98. The business has a 50-day simple moving average of $349.89 and a two-hundred day simple moving average of $320.44. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $366.50.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.59 by $0.55. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business had revenue of $58.02 billion for the quarter, compared to analyst estimates of $50.72 billion. During the same quarter in the previous year, the firm earned $4.96 earnings per share. The company’s revenue was up 27.7% on a year-over-year basis. As a group, equities analysts expect that JPMorgan Chase & Co. will post 24.28 EPS for the current fiscal year.

Key Headlines Impacting JPMorgan Chase & Co.

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: Hiring strengthens JPMorgan’s healthcare investment-banking franchise. The bank reportedly hired senior healthcare banker David Blais from Guggenheim Securities, adding industry expertise and potentially supporting advisory and capital-markets revenue. JPMorgan hires healthcare banker David Blais from Guggenheim
• Positive Sentiment: Persistent inflation could keep interest rates elevated. JPMorgan and BNP Paribas now expect another European Central Bank rate increase in December. Higher rates can support net interest income, although they may also weigh on loan demand and markets activity. JPMorgan and BNP Paribas expect ECB rate hike
• Neutral Sentiment: JPMorgan’s rate outlook conflicts with market pricing. A senior JPMorgan strategist expects no U.S. rate increase for the remainder of the year, while futures markets reportedly assign meaningful odds to a hike. The disagreement increases uncertainty around bank valuations, bond trading and interest income. No increase in interest rates anytime this year
• Neutral Sentiment: A strong labor market is a mixed development. Reports of 162,000 new jobs may support loan demand and interest income, but they also raise the possibility of higher-for-longer rates, increased credit costs and valuation pressure for financial stocks. JPMorgan falls even as 162,000 jobs revive higher rates
• Negative Sentiment: Reduced financing for Jane Street highlights competitive pressure. JPMorgan reportedly scaled back financing to the quantitative trading firm as Jane Street expands in U.S. Treasury market-making, underscoring competition from nonbank firms in fixed-income markets. JPMorgan scales back Jane Street financing
• Negative Sentiment: Legal exposure remains an overhang. JPMorgan is seeking to stay a $20 million fee order related to the Javice litigation, keeping attention on litigation costs and reputational risk. JPMorgan seeks stay of $20M Javice, Amar fee order

Wall Street Analyst Weigh In

Several analysts have commented on JPM shares. Royal Bank Of Canada increased their price target on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Weiss Ratings raised shares of JPMorgan Chase & Co. from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday. Morgan Stanley reiterated a “positive” rating and set a $370.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 15th. Citigroup increased their target price on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Finally, Zacks Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average target price of $359.96.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $361.41, for a total transaction of $903,525.00. Following the transaction, the insider owned 73,547 shares in the company, valued at approximately $26,580,621.27. This represents a 3.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of the transaction, the general counsel directly owned 40,961 shares of the company’s stock, valued at approximately $13,547,031.53. This represents a 11.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is currently owned by insiders.

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.