Daniel Investment Group Inc. bought a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 21,906 shares of the financial services provider's stock, valued at approximately $7,171,000. JPMorgan Chase & Co. makes up about 4.2% of Daniel Investment Group Inc.'s holdings, making the stock its 5th biggest holding.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Timmons Wealth Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $27,000. MBM Wealth Consultants LLC acquired a new stake in JPMorgan Chase & Co. in the first quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $32,000. Aventus Investment Advisors Inc. bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at about $33,000. Finally, Osbon Capital Management LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 71.55% of the company's stock.
JPMorgan Chase & Co. Price Performance
Shares of JPM opened at $358.21 on Friday. The company has a 50 day moving average of $349.89 and a 200-day moving average of $320.44. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $366.50. The stock has a market capitalization of $952.19 billion, a P/E ratio of 15.35, a P/E/G ratio of 1.49 and a beta of 0.98. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.30.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted 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. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business had revenue of $58.02 billion for the quarter, compared to analyst estimates of $50.72 billion. During the same period in the previous year, the firm earned $4.96 EPS. The firm's revenue was up 27.7% compared to the same quarter last year. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 24.28 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts recently commented on JPM shares. Royal Bank Of Canada boosted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an "outperform" rating in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods lifted their price objective on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $375.00 to $390.00 and gave the company an "overweight" rating in a research report on Friday, August 14th. UBS Group boosted their price target on JPMorgan Chase & Co. from $384.00 to $400.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Finally, Dbs Bank upgraded shares of JPMorgan Chase & Co. to a "hold" rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $359.96.
Check Out Our Latest Stock Analysis on JPM
Insider Transactions at JPMorgan Chase & Co.
In other news, General Counsel Stacey Friedman sold 5,467 shares of the firm's stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of the company's stock in a transaction that occurred 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 owned 73,547 shares in the company, valued at $26,580,621.27. The trade was a 3.29% decrease in their ownership of the stock. 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 own 0.41% of the company's stock.
More JPMorgan Chase & Co. News
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
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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