Joel Isaacson & Co. LLC boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,713 shares of the financial services provider’s stock after buying an additional 3,099 shares during the quarter. JPMorgan Chase & Co. makes up about 0.6% of Joel Isaacson & Co. LLC’s holdings, making the stock its 22nd biggest position. Joel Isaacson & Co. LLC’s holdings in JPMorgan Chase & Co. were worth $20,201,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of JPM. Timmons Wealth Management LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $27,000. MBM Wealth Consultants LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $32,000. Aventus Investment Advisors Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $33,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 71.55% of the company’s stock.
JPMorgan Chase & Co. Stock Performance
Shares of NYSE JPM opened at $358.21 on Monday. 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 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. The business’s 50-day simple moving average is $349.89 and its 200-day simple moving average is $320.56. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $366.50.
Insider Activity at JPMorgan Chase & Co.
In other news, insider Robin Leopold sold 2,500 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $361.41, for a total value of $903,525.00. Following the completion of the sale, the insider directly owned 73,547 shares in the company, valued at approximately $26,580,621.27. The trade was a 3.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 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 sale, 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 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. Company insiders own 0.41% of the company’s stock.
Key Stories 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 Analysts Forecast Growth
A number of equities analysts recently commented on JPM shares. Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, May 12th. Bank of America lifted their target price on shares of JPMorgan Chase & Co. from $408.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Zacks Research raised shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Evercore restated an “outperform” rating and set a $360.00 price target on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. Finally, Weiss Ratings upgraded shares of JPMorgan Chase & Co. from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday. One 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 stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average price target of $359.96.
Get Our Latest Stock Analysis on JPM
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.
Read More
- Five stocks we like better than JPMorgan Chase & Co.
- AI Token Costs Are Changing the Hardware vs. Software Debate
- 3 ETFs That Could Move as Rate Expectations Shift
- 3 Stocks With September Catalysts Investors Shouldn’t Ignore
- Ollie’s Bargain Outlet Stock Falls on Weak Comps Despite Margin Gains
Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Free Report).
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.
