JPMorgan Chase & Co. $JPM Shares Acquired by Todd Asset Management LLC

Key Points

• Todd Asset Management increased its JPMorgan stake by 8.9% in the second quarter, adding 19,994 shares to hold 244,161 shares valued at approximately $79.9 million. Institutional investors collectively own 71.55% of the company.
• JPMorgan insiders sold shares under pre-arranged Rule 10b5-1 plans, including General Counsel Stacey Friedman’s $1.81 million sale and Robin Leopold’s $903,525 sale. Company insiders own 0.41% of the stock.
• JPMorgan reported quarterly EPS of $6.14 and revenue of $58.02 billion, exceeding analyst expectations, while revenue rose 27.7% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $359.96.

Todd Asset Management LLC increased its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 8.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 244,161 shares of the financial services provider's stock after purchasing an additional 19,994 shares during the period. JPMorgan Chase & Co. accounts for 1.4% of Todd Asset Management LLC's portfolio, making the stock its 16th largest position. Todd Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $79,921,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Journey Advisory Group LLC boosted its stake in JPMorgan Chase & Co. by 0.6% during the 2nd quarter. Journey Advisory Group LLC now owns 71,743 shares of the financial services provider's stock valued at $23,484,000 after purchasing an additional 415 shares during the period. Boomfish Wealth Group LLC raised its position in shares of JPMorgan Chase & Co. by 2.4% during the 2nd quarter. Boomfish Wealth Group LLC now owns 9,353 shares of the financial services provider's stock worth $3,062,000 after buying an additional 222 shares in the last quarter. Strive Financial Group LLC lifted its stake in shares of JPMorgan Chase & Co. by 5.9% in the 2nd quarter. Strive Financial Group LLC now owns 1,072 shares of the financial services provider's stock worth $351,000 after acquiring an additional 60 shares during the period. Blueprint Investment Partners LLC boosted its holdings in shares of JPMorgan Chase & Co. by 4.9% in the second quarter. Blueprint Investment Partners LLC now owns 16,553 shares of the financial services provider's stock valued at $5,418,000 after acquiring an additional 770 shares in the last quarter. Finally, Capital City Trust Co. FL increased its stake in shares of JPMorgan Chase & Co. by 3.0% during the second quarter. Capital City Trust Co. FL now owns 20,968 shares of the financial services provider's stock valued at $6,863,000 after acquiring an additional 611 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 5,467 shares of the company's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the transaction, the general counsel directly owned 40,961 shares of the company's stock, valued at approximately $13,547,031.53. The trade was a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of the 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 completion of the sale, the insider directly owned 73,547 shares of the company's stock, valued at approximately $26,580,621.27. This represents 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. Company insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Stock Down 0.1%

Shares of JPMorgan Chase & Co. stock opened at $358.21 on Monday. JPMorgan Chase & Co. has a 12-month low of $279.10 and a 12-month high of $366.50. The firm has a market capitalization of $952.19 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.48 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. The stock's fifty day moving average is $349.89 and its 200-day moving average is $320.56.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly 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 firm had revenue of $58.02 billion for the quarter, compared to analysts' expectations of $50.72 billion. During the same quarter last year, the business posted $4.96 EPS. JPMorgan Chase & Co.'s revenue was up 27.7% on a year-over-year basis. Equities analysts anticipate that JPMorgan Chase & Co. will post 24.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on JPM shares. Royal Bank Of Canada upped their target price on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. Weiss Ratings raised JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a research note on Wednesday. The Goldman Sachs Group restated a "buy" rating and issued a $418.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 14th. Evercore reaffirmed an "outperform" rating and set a $360.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. Finally, Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a "hold" rating to a "buy" rating and set a $375.00 target price on the stock in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $359.96.

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.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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