JPMorgan Chase & Co. $JPM Shares Sold by Donaldson Capital Management LLC

Key Points

• Donaldson Capital Management reduced its JPMorgan stake by 12.3% in the second quarter, selling 42,176 shares and retaining 300,144 shares valued at approximately $98.2 million.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $359.96; targets in the article range from $350 to $390.
• 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. The stock opened at $353.38, near its 52-week high of $366.50.

Donaldson Capital Management LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 12.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 300,144 shares of the financial services provider's stock after selling 42,176 shares during the period. JPMorgan Chase & Co. comprises 2.8% of Donaldson Capital Management LLC's portfolio, making the stock its 9th largest position. Donaldson Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $98,246,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Morgan Stanley raised its position in shares of JPMorgan Chase & Co. by 1.4% in the 4th quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider's stock valued at $21,390,662,000 after purchasing an additional 939,421 shares in the last quarter. Bank of America Corp DE grew its position in shares of JPMorgan Chase & Co. by 15.8% during the first quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider's stock worth $19,314,681,000 after buying an additional 8,941,351 shares in the last quarter. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $11,396,496,000. Bank of New York Mellon Corp increased its stake in shares of JPMorgan Chase & Co. by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider's stock worth $7,547,837,000 after buying an additional 1,194,583 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in JPMorgan Chase & Co. by 0.6% in the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider's stock valued at $6,128,484,000 after acquiring an additional 110,586 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Analysts Set New Price Targets

JPM has been the topic of a number of research analyst reports. Jefferies Financial Group set a $350.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. Citigroup upped their target price on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. 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 report on Wednesday, July 22nd. Morgan Stanley restated a "positive" rating and issued a $370.00 price target on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $375.00 to $390.00 and gave the company an "overweight" rating in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $359.96.

JPMorgan Chase & Co. Trading Down 1.5%

Shares of NYSE:JPM opened at $353.38 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's 50-day moving average price is $350.99 and its 200 day moving average price is $321.24. The company has a market cap of $939.35 billion, a PE ratio of 15.14, a P/E/G ratio of 1.48 and a beta of 0.98. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $366.50.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, topping the consensus estimate of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The firm had revenue of $58.02 billion during the quarter, compared to analysts' expectations of $50.72 billion. During the same quarter in the prior year, the firm earned $4.96 EPS. JPMorgan Chase & Co.'s quarterly revenue was up 27.7% on a year-over-year basis. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 24.28 earnings per share for the current year.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $361.41, for a total transaction of $903,525.00. Following the completion of the transaction, the insider directly owned 73,547 shares in the company, valued at approximately $26,580,621.27. The trade was a 3.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through 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 stock in a transaction that occurred 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 completion of the transaction, the general counsel directly owned 40,961 shares of the company's stock, valued at $13,547,031.53. This trade represents a 11.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. News Summary

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

• Positive Sentiment: JPMorgan expects approximately $138 billion of buyout debt to come to market, highlighting potential fee opportunities for its leveraged-finance and investment-banking businesses. Buyout Debt Is Surging to Levels Not Seen Since Before the Financial Crisis
• Positive Sentiment: The bank appointed its APAC and EMEA technology investment-banking chiefs as international co-heads, reinforcing its global technology franchise and succession depth. JPMorgan names APAC, EMEA tech investment banking chiefs as international co-heads
• Positive Sentiment: Heavy Treasury and corporate-bond issuance could support JPMorgan’s underwriting and trading businesses, although the benefit depends on sustained issuer and investor demand. Why Corporate Bonds Are Giving Treasuries a Tough Time
• Neutral Sentiment: JPMorgan was named broker for CSL’s on-market share buyback and ceased substantial-holder status in Peet Limited. These mandates and portfolio changes demonstrate client activity but are unlikely to materially affect JPM’s earnings. CSL Appoints J.P. Morgan as Broker for On-Market Share Buy-Back
• Neutral Sentiment: JPMorgan’s research points to a possible rebound in healthcare ETF flows, while its analysts remain constructive on selected sectors and stocks. This may generate research-related attention but has limited direct impact on JPM’s financial results. Healthcare ETFs Were Left Behind. JPMorgan Sees the Money Coming Back
• Negative Sentiment: Analysts warn that fading capital-markets momentum could produce uneven third-quarter results for JPMorgan and other large banks, particularly if deal activity and trading revenue soften. Capital Markets Momentum Fades: What it Means for Big Banks in Q3
• Negative Sentiment: One valuation-focused analysis recommends holding JPM’s common shares rather than aggressively buying them at roughly 3.2 times book value, signaling limited upside after the stock’s strong run. JPMorgan: Start Accumulating The Preferred For Income, Hold The Common At 3.2x Book

About JPMorgan Chase & Co.

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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