JPMorgan Chase & Co. $JPM Shares Purchased by Argent Trust Co

Key Points

• Argent Trust increased its JPMorgan stake by 1.1% in the second quarter, owning 289,302 shares valued at approximately $94.7 million. Institutional investors hold 71.55% of the company’s stock.
• Analyst sentiment remains positive, with JPMorgan receiving a “Moderate Buy” consensus rating and an average price target of $359.96; several firms recently raised their targets or ratings.
• JPMorgan reported quarterly earnings of $6.14 per share, beating estimates of $5.59, while revenue rose 27.7% year over year to $58.02 billion. Insiders sold shares under pre-arranged trading plans, including a $882,000 sale by Robin Leopold.

Argent Trust Co lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 289,302 shares of the financial services provider's stock after purchasing an additional 3,017 shares during the quarter. JPMorgan Chase & Co. accounts for 2.7% of Argent Trust Co's portfolio, making the stock its 5th largest position. Argent Trust Co's holdings in JPMorgan Chase & Co. were worth $94,697,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in JPM. Arkansas Financial Group Inc. boosted its stake in shares of JPMorgan Chase & Co. by 1.1% during the 2nd quarter. Arkansas Financial Group Inc. now owns 2,667 shares of the financial services provider's stock worth $873,000 after acquiring an additional 30 shares during the period. Flynn Zito Capital Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 1.1% during the 2nd quarter. Flynn Zito Capital Management LLC now owns 2,830 shares of the financial services provider's stock worth $926,000 after buying an additional 30 shares during the last quarter. Wedgewood Investors Inc. PA boosted its holdings in shares of JPMorgan Chase & Co. by 1.5% during the 2nd quarter. Wedgewood Investors Inc. PA now owns 2,059 shares of the financial services provider's stock worth $674,000 after buying an additional 30 shares during the period. WealthBridge Capital Management LLC raised its holdings in JPMorgan Chase & Co. by 0.3% in the 2nd quarter. WealthBridge Capital Management LLC now owns 10,503 shares of the financial services provider's stock valued at $3,438,000 after acquiring an additional 31 shares during the period. Finally, LightSquare Wealth Management LLC increased its stake in shares of JPMorgan Chase & Co. by 1.1% during the second quarter. LightSquare Wealth Management LLC now owns 2,952 shares of the financial services provider's stock worth $966,000 after purchasing an additional 31 shares during the period. 71.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on JPM. Weiss Ratings upgraded JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a research note on Wednesday, September 2nd. Robert W. Baird boosted their price target on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Bank of America increased their price objective on shares of JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. Evercore reaffirmed an "outperform" rating and set a $360.00 price target on shares of JPMorgan Chase & Co. in a report on Monday, July 6th. Finally, Zacks Research raised shares of JPMorgan Chase & Co. from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $359.96.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,467 shares of the business's stock in a transaction on Monday, June 22nd. The stock was 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 $13,547,031.53. The trade was a 11.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available 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 company's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total value of $882,025.00. Following the transaction, the insider directly owned 71,047 shares in the company, valued at $25,066,092.07. This represents 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. Insiders sold 10,467 shares of company stock valued at $3,593,651 over the last three months. Company insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Price Performance

JPM opened at $356.77 on Friday. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year 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 $948.37 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 1.45 and a beta of 0.98. The firm's fifty day moving average price is $352.26 and its two-hundred day moving average price is $322.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced 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 firm had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $50.72 billion. During the same quarter in the previous year, the business earned $4.96 EPS. The company's revenue was up 27.7% compared to the same quarter last year. As a group, analysts anticipate that JPMorgan Chase & Co. will post 24.3 earnings per share for the current fiscal year.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan’s profitability and capital-return capacity remain major supports. Recent coverage highlighted approximately $16.9 billion in quarterly profit, with dividends consuming only a portion of earnings, leaving room for reinvestment, buybacks and future distributions. JPMorgan earnings and dividend coverage
• Positive Sentiment: The bank is expanding its European corporate-banking operations, including a reported 25% staffing increase and a push into Greece. The strategy could create additional lending, payments, investment-banking and cross-selling revenue over time. JPMorgan Greece expansion
• Positive Sentiment: Wall Street sentiment remains constructive, with JPMorgan described as a well-capitalized bank trading at an attractive valuation relative to its earnings, scale and exposure to investment banking, asset management and higher interest rates. The average analyst rating is “Moderate Buy.” JPMorgan analyst sentiment
• Neutral Sentiment: Insider Robin Leopold sold 2,500 shares for approximately $882,000 under a pre-arranged Rule 10b5-1 trading plan. The sale reduced her direct holdings by 3.4%, but its planned nature makes it a limited signal about management’s outlook. JPMorgan insider transaction
• Negative Sentiment: JPMorgan strategists warned that the equity risk premium has fallen to its lowest level since 2002. The unusually narrow compensation for owning stocks instead of bonds could limit broad market upside and increase sensitivity to disappointing economic or earnings news. JPMorgan equity risk premium warning
• Negative Sentiment: The bank’s decision to contest pressure from the Trump administration may protect its independence but could bring additional litigation, regulatory and political costs. JPMorgan political and legal risks

JPMorgan Chase & Co. 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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