JPMorgan Chase & Co. $JPM Shares Purchased by Advisors Capital Management LLC

Key Points

• Advisors Capital Management increased its JPMorgan stake by 1.4% in the second quarter, adding 6,311 shares for a total of 444,797 shares valued at approximately $145.6 million. Institutional investors collectively own 71.55% of the company.
• JPMorgan reported quarterly EPS of $6.14, beating estimates of $5.59, while revenue reached $58.02 billion and rose 27.7% year over year. The bank also expects strong third-quarter investment-banking fees and trading revenue, though slower earnings growth and economic pressures remain risks.
• Several insiders sold shares under pre-arranged trading plans, including General Counsel Stacey Friedman and insider Robin Leopold; insiders sold 10,467 shares worth about $3.6 million over the past 90 days. Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and a $359.96 price target.

Advisors Capital Management LLC raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 444,797 shares of the financial services provider's stock after acquiring an additional 6,311 shares during the quarter. JPMorgan Chase & Co. makes up 1.5% of Advisors Capital Management LLC's investment portfolio, making the stock its 10th largest holding. Advisors Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $145,596,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in JPM. MBM Wealth Consultants LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter valued at $29,000. Aventus Investment Advisors Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth $33,000. Osbon Capital Management LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth $35,000. WHI TRUST Co LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $45,000. Finally, HFM Investment Advisors LLC increased its position in JPMorgan Chase & Co. by 120.7% during the fourth quarter. HFM Investment Advisors LLC now owns 192 shares of the financial services provider's stock worth $62,000 after buying an additional 105 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. 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 sale, the general counsel directly owned 40,961 shares of the company's stock, valued at approximately $13,547,031.53. This represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $352.81, for a total value 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 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. Over the last 90 days, insiders sold 10,467 shares of company stock worth $3,593,651. Company insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Stock Up 1.1%

Shares of JPM opened at $354.10 on Wednesday. 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 company has a 50-day moving average price of $352.81 and a two-hundred day moving average price of $323.02. The stock has a market cap of $941.27 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 1.44 and a beta of 0.98. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $366.50.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.59 by $0.55. The business had revenue of $58.02 billion during 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.96 EPS. Equities analysts predict that JPMorgan Chase & Co. will post 24.3 EPS for the current fiscal year.

JPMorgan Chase & Co. News Roundup

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan said third-quarter investment-banking fees and trading revenue are expected to show strong growth. Co-President Doug Petno also indicated that overall revenue is tracking ahead of expectations, helping reverse earlier weakness in the shares. JPMorgan expects investment banking, trading to shine in third quarter
• Positive Sentiment: The revenue outlook suggests continued momentum in JPMorgan’s capital-markets operations, including stronger deal activity and market-trading fees. The update provides a near-term catalyst following the bank’s recent earnings beat and robust year-over-year revenue growth. JPMorgan Chase stock rises after upbeat revenue outlook
• Neutral Sentiment: JPMorgan declared its regular quarterly dividend on common stock and dividends on Series CC preferred stock. The announcements reinforce shareholder distributions but appear routine rather than a new change in capital-return policy. JPMorganChase Declares Common Stock Dividend JPMorganChase Declares Preferred Stock Dividends
• Negative Sentiment: Investors continue to monitor signs that earnings growth may be slowing despite the benefit of higher interest rates. Jamie Dimon’s ongoing warnings about economic and structural pressures, along with elevated oil prices and potential effects on borrowers, remain longer-term risks for the bank. JPM Benefits from Higher Rates, but Earnings Growth Is Slowing

Wall Street Analyst Weigh In

A number of brokerages have weighed in on JPM. Royal Bank Of Canada boosted their price target 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. Jefferies Financial Group set a $350.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. The Goldman Sachs Group restated a "buy" rating and set a $418.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 14th. Zacks Research raised JPMorgan Chase & Co. from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 16th. Finally, Morgan Stanley restated a "positive" rating and set a $370.00 target price on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 15th. One equities research 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $359.96.

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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