SmartHarvest Portfolios LLC Has $4.38 Million Holdings in JPMorgan Chase & Co. $JPM

SmartHarvest Portfolios LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 36.6% in the second quarter, Holdings Channel.com reports. The firm owned 13,371 shares of the financial services provider’s stock after acquiring an additional 3,581 shares during the period. JPMorgan Chase & Co. makes up approximately 1.4% of SmartHarvest Portfolios LLC’s holdings, making the stock its 12th largest holding. SmartHarvest Portfolios LLC’s holdings in JPMorgan Chase & Co. were worth $4,377,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Arkansas Financial Group Inc. lifted its stake in shares of JPMorgan Chase & Co. by 1.1% in the second quarter. Arkansas Financial Group Inc. now owns 2,667 shares of the financial services provider’s stock valued at $873,000 after buying an additional 30 shares during the period. Flynn Zito Capital Management LLC increased its stake in JPMorgan Chase & Co. by 1.1% during the second quarter. Flynn Zito Capital Management LLC now owns 2,830 shares of the financial services provider’s stock valued at $926,000 after acquiring an additional 30 shares during the period. Wedgewood Investors Inc. PA raised its holdings in JPMorgan Chase & Co. by 1.5% in the 2nd quarter. Wedgewood Investors Inc. PA now owns 2,059 shares of the financial services provider’s stock valued at $674,000 after acquiring an additional 30 shares in the last quarter. WealthBridge Capital Management LLC lifted its position in shares of JPMorgan Chase & Co. by 0.3% in the 2nd quarter. WealthBridge Capital Management LLC now owns 10,503 shares of the financial services provider’s stock worth $3,438,000 after acquiring an additional 31 shares during the period. Finally, LightSquare Wealth Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.1% during the 2nd quarter. LightSquare Wealth Management LLC now owns 2,952 shares of the financial services provider’s stock worth $966,000 after purchasing an additional 31 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on JPM shares. Weiss Ratings upgraded JPMorgan Chase & Co. from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday. Keefe, Bruyette & Woods lifted their price target on shares of JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Morgan Stanley reissued a “positive” rating and issued a $370.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, July 15th. Jefferies Financial Group set a $350.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 14th. Finally, Royal Bank Of Canada increased their price objective on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $359.96.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $358.21 on Friday. The stock’s fifty day simple moving average is $349.89 and its 200 day simple moving average is $320.44. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $952.19 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 1.48 and a beta of 0.98. JPMorgan Chase & Co. has a one year low of $279.10 and a one year high of $366.50.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, beating 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 firm had revenue of $58.02 billion for the quarter, compared to analysts’ expectations of $50.72 billion. During the same period in the prior year, the business posted $4.96 earnings per share. The business’s revenue was up 27.7% compared to the same quarter last year. On average, analysts expect that JPMorgan Chase & Co. will post 24.28 earnings per share for the current fiscal year.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 2,500 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $361.41, for a total value of $903,525.00. Following the sale, the insider owned 73,547 shares of the company’s stock, valued at approximately $26,580,621.27. This represents a 3.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock in a transaction dated 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 sale, the general counsel owned 40,961 shares of the company’s stock, valued at $13,547,031.53. This trade represents a 11.78% decrease in their position. The SEC filing for this sale provides additional information. 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. News Summary

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

JPMorgan Chase & Co. 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.