JPMorgan Chase & Co. $JPM Stock Position Increased by Diversify Advisory Services LLC

Key Points

• Diversify Advisory Services LLC increased its JPMorgan stake by 1,505.1% in the second quarter, bringing its holdings to 72,679 shares valued at approximately $25.9 million. Institutional investors collectively own 71.55% of the stock.
• JPMorgan reported quarterly earnings of $6.14 per share, exceeding the $5.59 consensus estimate, while revenue rose 27.7% year over year to $58.02 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $359.96.
• Shares recently traded around $350, while insiders sold 10,467 shares worth $3.6 million over the past 90 days. Rising oil prices and related inflation and interest-rate concerns remain potential risks for bank valuations.

Diversify Advisory Services LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1,505.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,679 shares of the financial services provider's stock after buying an additional 68,151 shares during the period. Diversify Advisory Services LLC's holdings in JPMorgan Chase & Co. were worth $25,888,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Gables Capital Management Inc. lifted its position in JPMorgan Chase & Co. by 0.9% in the second quarter. Gables Capital Management Inc. now owns 21,894 shares of the financial services provider's stock worth $7,167,000 after purchasing an additional 200 shares during the period. Bonfire Financial boosted its stake in JPMorgan Chase & Co. by 34.0% during the second quarter. Bonfire Financial now owns 1,202 shares of the financial services provider's stock valued at $394,000 after buying an additional 305 shares in the last quarter. Oxbow Advisors LLC boosted its stake in JPMorgan Chase & Co. by 122.2% during the second quarter. Oxbow Advisors LLC now owns 2,226 shares of the financial services provider's stock valued at $729,000 after buying an additional 1,224 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in JPMorgan Chase & Co. by 0.9% during the second quarter. Wealthfront Advisers LLC now owns 372,908 shares of the financial services provider's stock valued at $122,064,000 after buying an additional 3,163 shares in the last quarter. Finally, Global Strategic Investment Solutions LLC grew its stake in shares of JPMorgan Chase & Co. by 2.0% in the 2nd quarter. Global Strategic Investment Solutions LLC now owns 2,735 shares of the financial services provider's stock worth $895,000 after purchasing an additional 53 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Key Stories Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan’s private bank is repositioning to capture wealth created by artificial intelligence. The strategy could support long-term growth in fee-rich asset and wealth management services, as well as additional lending relationships. JPMorgan's Private Bank Reset Targets the Next Wave of AI Wealth
• Positive Sentiment: JPMorgan’s private-bank leadership transition, involving longtime executives overseeing its approximately $2.4 trillion U.S. private-bank business, may provide continuity for a strategically important growth division. JPMorgan Taps Longtime Executives to Run $2.4 Trillion U.S. Private Bank
• Neutral Sentiment: JPMorgan research continued to highlight strong artificial-intelligence demand, including potential demand for ASML’s extreme-ultraviolet chipmaking machines. The commentary supports the bank’s capital-markets and advisory outlook but does not directly change JPM’s fundamentals. ASML Eyes 110+ EUV Machines as JPM Stresses Strong AI Demand
• Neutral Sentiment: JPMorgan’s report on the coming succession wave among small businesses could create future opportunities for commercial banking, lending, and advisory services, although it is not an immediate earnings catalyst. Top Bank Warns 12 Million Small Businesses Could Change Hands
• Negative Sentiment: Oil prices moved above $100 after damage to a Saudi pipeline, raising concerns about inflation, interest rates, and economic growth. Those risks can weigh on bank valuations and likely contributed to the broader market weakness affecting JPMorgan. Oil over $100 Has JPMorgan Stock-Market Strategists Concerned
• Negative Sentiment: Two smaller institutional investors reported reducing their JPMorgan holdings in second-quarter regulatory filings. The sales are dated and appear unlikely to be a major fundamental driver, but they add modest selling-pressure sentiment. Focused Alpha Reduces JPMorgan Holdings

JPMorgan Chase & Co. Trading Down 1.7%

Shares of NYSE:JPM opened at $350.32 on Tuesday. The firm has a fifty day moving average of $352.51 and a two-hundred day moving average of $322.66. 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. has a 12-month low of $279.10 and a 12-month high of $366.50. The firm has a market capitalization of $931.22 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 1.47 and a beta of 0.98.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly 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 company had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $50.72 billion. During the same period last year, the business earned $4.96 EPS. The business's quarterly revenue was up 27.7% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 24.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. 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 owned 71,047 shares in the company, valued at $25,066,092.07. This trade represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 shares were sold at an average price of $330.73, for a total value of $1,808,100.91. Following the completion of the sale, the general counsel directly owned 40,961 shares of the company's stock, valued at $13,547,031.53. This 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 sold 10,467 shares of company stock worth $3,593,651 in the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on JPM. Truist Financial boosted their target price on shares of JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a "hold" rating in a report on Wednesday, July 15th. Barclays raised their price objective on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Zacks Research upgraded JPMorgan Chase & Co. from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 16th. Bank of America upped their target price on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the company a "buy" rating in a report on Thursday, July 16th. Finally, 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 research report on Monday, August 3rd. 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. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and a consensus price target of $359.96.

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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