Everett Harris & Co. CA Acquires 2,844 Shares of JPMorgan Chase & Co. $JPM

Everett Harris & Co. CA boosted its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 10.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,793 shares of the financial services provider's stock after purchasing an additional 2,844 shares during the quarter. Everett Harris & Co. CA's holdings in JPMorgan Chase & Co. were worth $10,079,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Timmons Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $27,000. MBM Wealth Consultants LLC bought a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd bought a new position in JPMorgan Chase & Co. during the 4th quarter worth about $32,000. Aventus Investment Advisors Inc. bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth $33,000. Finally, Osbon Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Key Headlines 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

JPM has been the topic of several recent research reports. UBS Group upped their price objective on JPMorgan Chase & Co. from $384.00 to $400.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $375.00 to $390.00 and gave the company an "overweight" rating in a report on Friday, August 14th. Royal Bank Of Canada increased their price objective 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 increased their price objective 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. Finally, Barclays increased their price target on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. One equities research 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.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $361.41, for a total value of $903,525.00. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed 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 stock in a transaction dated 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 transaction, the general counsel directly owned 40,961 shares in the company, valued at $13,547,031.53. The trade was a 11.78% 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.

JPMorgan Chase & Co. Stock Down 1.1%

NYSE JPM opened at $358.21 on Friday. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month 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 company has a market capitalization of $952.19 billion, a P/E ratio of 15.35, a PEG ratio of 1.49 and a beta of 0.98. The company's 50 day simple moving average is $349.89 and its 200 day simple moving average is $320.44.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $58.02 billion during the quarter, compared to analysts' expectations of $50.72 billion. During the same period in the prior year, the business earned $4.96 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was up 27.7% compared to the same quarter last year. Equities research analysts expect that JPMorgan Chase & Co. will post 24.28 earnings per share for the current fiscal year.

About JPMorgan Chase & Co.

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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