Solidarity Wealth LLC Sells 4,951 Shares of JPMorgan Chase & Co. $JPM

Solidarity Wealth LLC reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPMFree Report) by 41.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,104 shares of the financial services provider’s stock after selling 4,951 shares during the quarter. Solidarity Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $2,325,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Arkansas Financial Group Inc. lifted its position in JPMorgan Chase & Co. by 1.1% in the 2nd quarter. Arkansas Financial Group Inc. now owns 2,667 shares of the financial services provider’s stock valued at $873,000 after acquiring an additional 30 shares in the last quarter. Flynn Zito Capital Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 1.1% in the 2nd quarter. Flynn Zito Capital Management LLC now owns 2,830 shares of the financial services provider’s stock worth $926,000 after purchasing an additional 30 shares in the last quarter. Wedgewood Investors Inc. PA increased its holdings in shares of 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 worth $674,000 after purchasing an additional 30 shares in the last quarter. WealthBridge Capital Management LLC raised its stake in shares of JPMorgan Chase & Co. by 0.3% in the second quarter. WealthBridge Capital Management LLC now owns 10,503 shares of the financial services provider’s stock worth $3,438,000 after purchasing an additional 31 shares during the last quarter. Finally, Jacobsen Capital Management raised its stake in shares of JPMorgan Chase & Co. by 0.6% in the second quarter. Jacobsen Capital Management now owns 5,373 shares of the financial services provider’s stock worth $1,759,000 after purchasing an additional 32 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting JPMorgan Chase & Co.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on JPM. Royal Bank Of Canada upped their price target on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods boosted their target price on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Truist Financial boosted their target price on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a “hold” rating in a research report on Wednesday, July 15th. Robert W. Baird upped their target price on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Finally, Citigroup raised their price target on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a “neutral” rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average price target of $359.96.

Read Our Latest Research Report on JPMorgan Chase & Co.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $361.41, for a total transaction of $903,525.00. Following the completion of the sale, the insider owned 73,547 shares of the company’s stock, valued at approximately $26,580,621.27. The trade was a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $330.73, for a total value of $1,808,100.91. Following the completion of the sale, the general counsel owned 40,961 shares of the company’s stock, valued at approximately $13,547,031.53. The trade was 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 company insiders.

JPMorgan Chase & Co. Stock Up 0.4%

Shares of JPM stock opened at $356.42 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $366.50. The stock has a market cap of $947.43 billion, a P/E ratio of 15.27, a P/E/G ratio of 1.46 and a beta of 0.98. The company has a 50 day simple moving average of $348.76 and a two-hundred day simple moving average of $319.75.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The business had revenue of $58.02 billion for the quarter, compared to analysts’ expectations of $50.72 billion. During the same quarter last year, the company posted $4.96 EPS. The company’s revenue was up 27.7% compared to the same quarter last year. On average, research analysts expect that JPMorgan Chase & Co. will post 24.28 earnings per share for the current year.

JPMorgan Chase & Co. Profile

(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.

Further Reading

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

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