JPMorgan Chase & Co. $JPM Shares Sold by BlackRock Inc.

Key Points

• BlackRock reduced its JPMorgan stake by 0.9%, selling 1.97 million shares in the second quarter. It still owned 206.3 million shares, representing about 7.7% of JPMorgan and worth approximately $67.5 billion.
• JPMorgan reported quarterly EPS of $6.14, exceeding the $5.59 analyst estimate, while revenue rose 27.7% year over year to $58.02 billion.
• Analyst sentiment remains positive: JPMorgan has a consensus “Moderate Buy” rating, with several firms recently raising price targets or upgrading the stock.

BlackRock Inc. trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 206,290,537 shares of the financial services provider's stock after selling 1,970,256 shares during the period. JPMorgan Chase & Co. accounts for about 1.0% of BlackRock Inc.'s holdings, making the stock its 14th biggest holding. BlackRock Inc. owned approximately 7.70% of JPMorgan Chase & Co. worth $67,525,081,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Arkansas Financial Group Inc. raised its stake in shares of JPMorgan Chase & Co. by 1.1% during the second quarter. Arkansas Financial Group Inc. now owns 2,667 shares of the financial services provider's stock valued at $873,000 after purchasing an additional 30 shares during the period. Flynn Zito Capital Management LLC increased its stake in 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 period. Wedgewood Investors Inc. PA boosted its position in JPMorgan Chase & Co. by 1.5% in the 2nd quarter. Wedgewood Investors Inc. PA now owns 2,059 shares of the financial services provider's stock valued at $674,000 after buying an additional 30 shares during the last quarter. WealthBridge Capital Management LLC grew its stake in shares of JPMorgan Chase & Co. by 0.3% during the second 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 in the last quarter. Finally, LightSquare Wealth Management LLC increased its position 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 acquiring an additional 31 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $356.77 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $948.37 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 1.47 and a beta of 0.98. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $366.50. The business has a 50 day simple moving average of $352.26 and a 200-day simple moving average of $322.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $58.02 billion for 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%.The firm's revenue for the quarter was up 27.7% on a year-over-year basis. During the same period last year, the business posted $4.96 earnings per share. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 24.3 earnings per share for the current 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

Analyst Ratings Changes

A number of research analysts recently commented on JPM shares. UBS Group increased their price target on JPMorgan Chase & Co. from $384.00 to $400.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a "hold" rating to a "buy" rating and set a $375.00 target price for the company in a research note on Wednesday, July 22nd. Zacks Research upgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 16th. Weiss Ratings raised shares of JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a report on Wednesday, September 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. 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's stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and a consensus target price of $359.96.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total transaction of $882,025.00. Following the sale, the insider directly owned 71,047 shares of the company's stock, valued at approximately $25,066,092.07. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 firm's stock in a transaction dated 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 completion of the transaction, the general counsel owned 40,961 shares in the company, valued at approximately $13,547,031.53. The trade was a 11.78% decrease in their ownership of the stock. 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. Insiders have sold 10,467 shares of company stock worth $3,593,651 over the last three months. 0.41% of the stock is owned by corporate insiders.

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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