Avaii Wealth Management LLC Sells 23,498 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Avaii Wealth Management cut its JPMorgan stake by 81.3% in the second quarter, selling 23,498 shares and retaining 5,419 shares valued at approximately $1.77 million.
• JPMorgan remains widely held by institutions, with institutional ownership at 71.55%, while analysts maintain a generally positive outlook: the stock has a “Moderate Buy” consensus rating and an average price target of $359.96.
• JPMorgan’s latest quarterly results exceeded expectations, with EPS of $6.14 versus a $5.59 estimate and revenue of $58.02 billion; revenue rose 27.7% year over year.

Avaii Wealth Management LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 81.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,419 shares of the financial services provider's stock after selling 23,498 shares during the quarter. Avaii Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $1,774,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of JPM. MBM Wealth Consultants LLC acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth $29,000. Aventus Investment Advisors Inc. bought a new position in shares of JPMorgan Chase & Co. in the second quarter worth about $33,000. Osbon Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $35,000. Merrithew & Thorsten Inc bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at approximately $40,000. Finally, WHI TRUST Co LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at approximately $45,000. 71.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on JPM shares. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $418.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. UBS Group raised their price objective on shares of JPMorgan Chase & Co. from $384.00 to $400.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Weiss Ratings raised shares of JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a research report on Wednesday, September 2nd. Zacks Research upgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 16th. Finally, Citigroup increased 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $359.96.

More JPMorgan Chase & Co. News

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

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total transaction of $882,025.00. Following the sale, the insider owned 71,047 shares in the company, valued at $25,066,092.07. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 completion of the sale, the general counsel directly owned 40,961 shares in the company, valued at $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. Insiders have sold 10,467 shares of company stock worth $3,593,651 in the last quarter. Corporate insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $350.32 on Tuesday. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $366.50. The company has a market capitalization of $931.22 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.47 and a beta of 0.98. The stock has a 50 day moving average of $352.51 and a two-hundred day moving average of $322.66. 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. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.59 by $0.55. The business had revenue of $58.02 billion for the quarter, compared to analysts' expectations of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.JPMorgan Chase & Co.'s quarterly revenue was up 27.7% on a year-over-year basis. During the same period in the previous year, the business posted $4.96 earnings per share. As a group, equities analysts expect that JPMorgan Chase & Co. will post 24.3 EPS for the current year.

JPMorgan Chase & Co. Company 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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