JPMorgan Chase & Co. $JPM Stake Lessened by Chilton Capital Management LLC

Key Points

• Chilton Capital Management reduced its JPMorgan stake by 5.1% in the second quarter, selling 14,516 shares and retaining 268,794 shares valued at approximately $88 million. JPMorgan remains Chilton’s ninth-largest holding and represents 2.8% of its portfolio.
• Institutional investors own approximately 71.55% of JPMorgan’s outstanding shares, while several other funds increased their positions during the quarter.
• JPMorgan recently exceeded earnings expectations, reporting $6.14 in quarterly EPS and $58.02 billion in revenue; analysts maintain a “Moderate Buy” consensus with an average price target of $359.96.

Chilton Capital Management LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 268,794 shares of the financial services provider's stock after selling 14,516 shares during the period. JPMorgan Chase & Co. comprises about 2.8% of Chilton Capital Management LLC's investment portfolio, making the stock its 9th biggest holding. Chilton Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $87,984,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of JPM. Brighton Jones LLC lifted its stake in shares of JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after purchasing an additional 4,841 shares during the period. Acorns Advisers LLC boosted its holdings in shares of JPMorgan Chase & Co. by 6.9% in the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider's stock worth $379,000 after buying an additional 100 shares during the last quarter. Ignite Planners LLC grew its position in JPMorgan Chase & Co. by 0.7% during the second quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider's stock valued at $3,185,000 after buying an additional 78 shares during the period. Jump Financial LLC bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $1,475,000. Finally, Betterment LLC increased its stake in shares of JPMorgan Chase & Co. by 27.5% in the 2nd quarter. Betterment LLC now owns 1,970 shares of the financial services provider's stock worth $571,000 after purchasing an additional 425 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. News Roundup

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

JPMorgan Chase & Co. Stock Down 1.1%

Shares of JPM stock opened at $358.21 on Friday. The company's fifty day simple moving average is $349.89 and its two-hundred day simple moving average is $320.44. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $366.50. The stock has a market cap of $952.19 billion, a P/E ratio of 15.35, a PEG 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.

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 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 business's revenue was up 27.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.96 earnings per share. Analysts predict that JPMorgan Chase & Co. will post 24.28 EPS for the current fiscal year.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 5,467 shares of the firm's stock in a transaction on Monday, June 22nd. The shares were 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 approximately $13,547,031.53. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of the business's stock in a transaction 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 sale, the insider owned 73,547 shares in the company, valued at $26,580,621.27. This represents a 3.29% 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. Company insiders own 0.41% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. UBS Group lifted their target price on JPMorgan Chase & Co. from $384.00 to $400.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Jefferies Financial Group set a $350.00 price objective on JPMorgan Chase & Co. in a research note on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft raised shares of JPMorgan Chase & Co. from a "hold" rating to a "buy" rating and set a $375.00 target price for the company in a report on Wednesday, July 22nd. Royal Bank Of Canada raised their target price on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings raised shares of JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $359.96.

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.