JPMorgan Chase & Co. $JPM Stock Position Lifted by Palmer Knight Co

Palmer Knight Co increased its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 15.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,797 shares of the financial services provider's stock after acquiring an additional 4,181 shares during the period. JPMorgan Chase & Co. comprises about 3.9% of Palmer Knight Co's holdings, making the stock its 6th largest holding. Palmer Knight Co's holdings in JPMorgan Chase & Co. were worth $10,081,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE lifted its position in JPMorgan Chase & Co. by 15.8% in the first quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider's stock valued at $19,314,681,000 after purchasing an additional 8,941,351 shares during the last quarter. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $11,396,496,000. Bank of New York Mellon Corp boosted its position in JPMorgan Chase & Co. by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 21,642,804 shares of the financial services provider's stock valued at $7,084,339,000 after acquiring an additional 540,362 shares in the last quarter. Legal & General Group Plc grew its stake 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 worth $6,128,484,000 after purchasing an additional 110,586 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of JPMorgan Chase & Co. by 3.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,968,884 shares of the financial services provider's stock valued at $5,578,788,000 after buying an additional 607,288 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $350.32 on Tuesday. The firm has a fifty day simple moving average of $352.51 and a two-hundred day simple moving average of $322.66. The firm has a market cap of $931.22 billion, a PE ratio of 15.01, a P/E/G ratio of 1.47 and a beta of 0.98. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 1-year low of $279.10 and a 1-year high of $366.50.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, topping analysts' consensus estimates of $5.59 by $0.55. The company 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%.JPMorgan Chase & Co.'s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same period last year, the firm earned $4.96 EPS. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 24.3 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on JPM shares. The Goldman Sachs Group reissued a "buy" rating and set a $418.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Weiss Ratings upgraded shares of JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a report on Wednesday, September 2nd. Morgan Stanley reaffirmed a "positive" rating and set a $370.00 target price on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods lifted their target price on shares of JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an "outperform" rating in a report on Wednesday, July 15th. Finally, Barclays boosted their price target on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. One 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $359.96.

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

Insider Transactions at JPMorgan Chase & Co.

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 transaction of $882,025.00. Following the transaction, the insider owned 71,047 shares in the company, valued at approximately $25,066,092.07. The trade was a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 company's stock in a transaction dated 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 approximately $13,547,031.53. This trade represents a 11.78% 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. Over the last ninety days, insiders have sold 10,467 shares of company stock worth $3,593,651. Insiders own 0.41% of the company's stock.

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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