University of Texas Texas AM Investment Management Co. Grows Stock Holdings in JPMorgan Chase & Co. $JPM

University of Texas Texas AM Investment Management Co. grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 16.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 34,051 shares of the financial services provider’s stock after acquiring an additional 4,694 shares during the period. JPMorgan Chase & Co. makes up 1.3% of University of Texas Texas AM Investment Management Co.’s portfolio, making the stock its 12th biggest holding. University of Texas Texas AM Investment Management Co.’s holdings in JPMorgan Chase & Co. were worth $11,146,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of JPM. Timmons Wealth Management LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $27,000. MBM Wealth Consultants LLC purchased a new stake in JPMorgan Chase & Co. during the first quarter worth about $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $32,000. Aventus Investment Advisors Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $33,000. Finally, Osbon Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on JPM shares. Jefferies Financial Group set a $350.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. Wells Fargo & Company upped their target price on shares of JPMorgan Chase & Co. from $375.00 to $390.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. Deutsche Bank Aktiengesellschaft upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 target price on the stock in a report on Wednesday, July 22nd. Morgan Stanley restated a “positive” rating and issued a $370.00 price target on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada upped their price objective on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average price target of $359.96.

Check Out Our Latest Report on JPM

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $358.21 on Friday. JPMorgan Chase & Co. has a one year low of $279.10 and a one year high of $366.50. The company has a market cap of $952.19 billion, a PE ratio of 15.35, a P/E/G ratio of 1.48 and a beta of 0.98. 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 business has a 50-day simple moving average of $349.89 and a 200-day simple moving average of $320.44.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last released its 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. The firm had revenue of $58.02 billion for the quarter, compared to analyst estimates of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The business’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.96 earnings per share. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 24.28 EPS for the current fiscal year.

JPMorgan Chase & Co. News Roundup

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

Insider Activity at JPMorgan Chase & Co.

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

About JPMorgan Chase & Co.

(Free Report)

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.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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