Addison Advisors LLC Sells 7,901 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Addison Advisors LLC cut its JPMorgan Chase stake by 79.7% in the second quarter, selling 7,901 shares and retaining 2,014 shares valued at approximately $659,000.
• JPMorgan reported stronger-than-expected quarterly results, with EPS of $6.14 versus a $5.59 consensus and revenue of $58.02 billion, up 27.7% year over year.
• Analyst sentiment remains favorable, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $359.96; institutional investors own 71.55% of JPM shares.

Addison Advisors LLC lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 79.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,014 shares of the financial services provider's stock after selling 7,901 shares during the period. Addison Advisors LLC's holdings in JPMorgan Chase & Co. were worth $659,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Bank of America Corp DE raised its position in shares of 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 worth $19,314,681,000 after buying an additional 8,941,351 shares in the last quarter. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $11,396,496,000. Bank of New York Mellon Corp grew its holdings in shares of JPMorgan Chase & Co. by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 21,642,804 shares of the financial services provider's stock worth $7,084,339,000 after purchasing an additional 540,362 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of JPMorgan Chase & Co. by 0.6% during the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider's stock worth $6,128,484,000 after purchasing an additional 110,586 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of JPMorgan Chase & Co. by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 18,968,884 shares of the financial services provider's stock worth $5,578,788,000 after purchasing an additional 607,288 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Down 1.7%

Shares of NYSE JPM opened at $350.32 on Tuesday. JPMorgan Chase & Co. has a one year low of $279.10 and a one year high of $366.50. 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's 50 day simple moving average is $352.51 and its two-hundred day simple moving average is $322.66. The stock has a market capitalization of $931.22 billion, a P/E ratio of 15.01, a PEG ratio of 1.47 and a beta of 0.98.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, topping the consensus estimate of $5.59 by $0.55. The firm had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The company's quarterly revenue was up 27.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.96 earnings per share. As a group, analysts expect that JPMorgan Chase & Co. will post 24.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on JPM shares. Deutsche Bank Aktiengesellschaft raised 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 research note on Wednesday, July 22nd. Barclays boosted their price target on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. UBS Group increased their price target on shares of JPMorgan Chase & Co. from $384.00 to $400.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Zacks Research upgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 16th. Finally, Citigroup lifted their price objective on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and an average price target of $359.96.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan’s private bank is repositioning to capture wealth created by artificial intelligence. The strategy could support long-term growth in fee-rich asset and wealth management services, as well as additional lending relationships. JPMorgan's Private Bank Reset Targets the Next Wave of AI Wealth
• Positive Sentiment: JPMorgan’s private-bank leadership transition, involving longtime executives overseeing its approximately $2.4 trillion U.S. private-bank business, may provide continuity for a strategically important growth division. JPMorgan Taps Longtime Executives to Run $2.4 Trillion U.S. Private Bank
• Neutral Sentiment: JPMorgan research continued to highlight strong artificial-intelligence demand, including potential demand for ASML’s extreme-ultraviolet chipmaking machines. The commentary supports the bank’s capital-markets and advisory outlook but does not directly change JPM’s fundamentals. ASML Eyes 110+ EUV Machines as JPM Stresses Strong AI Demand
• Neutral Sentiment: JPMorgan’s report on the coming succession wave among small businesses could create future opportunities for commercial banking, lending, and advisory services, although it is not an immediate earnings catalyst. Top Bank Warns 12 Million Small Businesses Could Change Hands
• Negative Sentiment: Oil prices moved above $100 after damage to a Saudi pipeline, raising concerns about inflation, interest rates, and economic growth. Those risks can weigh on bank valuations and likely contributed to the broader market weakness affecting JPMorgan. Oil over $100 Has JPMorgan Stock-Market Strategists Concerned
• Negative Sentiment: Two smaller institutional investors reported reducing their JPMorgan holdings in second-quarter regulatory filings. The sales are dated and appear unlikely to be a major fundamental driver, but they add modest selling-pressure sentiment. Focused Alpha Reduces JPMorgan Holdings

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the firm's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $352.81, for a total transaction of $882,025.00. Following the completion of the transaction, the insider owned 71,047 shares of the company's stock, valued at approximately $25,066,092.07. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the business's stock in a transaction on Monday, June 22nd. The shares were 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 in the company, valued at approximately $13,547,031.53. This trade represents a 11.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 10,467 shares of company stock worth $3,593,651. Insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, lending, payments, investment banking, asset management and wealth management services to consumers, businesses, institutional clients and governments.

The company operates through four primary business areas: Consumer & Community Banking; Commercial & Investment Banking; Asset & Wealth Management; and Corporate. Its offerings include deposit accounts, credit cards, mortgages, auto loans, business banking, commercial lending, treasury services, investment banking, securities trading, investment management and private banking.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across numerous international markets.

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