JPMorgan Chase & Co. $JPM Shares Acquired by Acumen Wealth Advisors LLC

Key Points

• Acumen Wealth Advisors more than doubled its JPMorgan position in the second quarter, purchasing 7,648 additional shares to hold 14,821 shares valued at approximately $4.85 million. Institutional investors and hedge funds collectively own 71.55% of JPM stock.
• JPMorgan reported strong quarterly results, with EPS of $6.14 beating estimates of $5.59 and revenue rising 27.7% year over year to $58.02 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $359.96.
• Recent developments present both opportunities and risks: the bank expanded its healthcare investment-banking team, while higher-for-longer interest rates, competition from nonbank trading firms and ongoing legal exposure remain potential overhangs.

Acumen Wealth Advisors LLC raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 106.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,821 shares of the financial services provider's stock after buying an additional 7,648 shares during the period. JPMorgan Chase & Co. comprises about 1.0% of Acumen Wealth Advisors LLC's holdings, making the stock its 23rd largest holding. Acumen Wealth Advisors LLC's holdings in JPMorgan Chase & Co. were worth $4,851,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after purchasing an additional 4,841 shares in the last quarter. Acorns Advisers LLC increased its stake in JPMorgan Chase & Co. by 6.9% in the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock valued at $379,000 after purchasing an additional 100 shares during the period. Ignite Planners LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.7% in the second quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider's stock valued at $3,185,000 after buying an additional 78 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of JPMorgan Chase & Co. in the second quarter valued at about $1,475,000. Finally, Betterment LLC raised its holdings in shares of JPMorgan Chase & Co. by 27.5% in the second quarter. Betterment LLC now owns 1,970 shares of the financial services provider's stock valued at $571,000 after buying an additional 425 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

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

JPMorgan Chase & Co. Stock Performance

JPM opened at $358.21 on Friday. 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 stock has a market cap of $952.19 billion, a P/E ratio of 15.35, a P/E/G ratio of 1.48 and a beta of 0.98. JPMorgan Chase & Co. has a 1-year low of $279.10 and a 1-year high of $366.50. The stock'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 released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.55. The business had revenue of $58.02 billion during 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 business's revenue was up 27.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.96 EPS. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 24.28 EPS for the current fiscal year.

Insider Transactions at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 5,467 shares of the company's 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 owned 40,961 shares of the company's stock, valued at $13,547,031.53. This represents a 11.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $361.41, for a total transaction of $903,525.00. Following the completion of the transaction, the insider owned 73,547 shares in the company, valued at approximately $26,580,621.27. This trade represents a 3.29% decrease in their position. 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. 0.41% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on JPM. Wells Fargo & Company upped their price target on JPMorgan Chase & Co. from $375.00 to $390.00 and gave the stock an "overweight" rating in a research note on Friday, August 14th. Citigroup lifted their price objective on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a "neutral" rating in a research report on Monday, July 20th. UBS Group boosted their price objective on shares of JPMorgan Chase & Co. from $384.00 to $400.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Evercore restated an "outperform" rating and set a $360.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 6th. Finally, Jefferies Financial Group set a $350.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. One investment 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, the company has an average rating of "Moderate Buy" and a consensus target price of $359.96.

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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