NewEdge Wealth LLC Purchases 7,232 Shares of JPMorgan Chase & Co. $JPM

NewEdge Wealth LLC lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 499,797 shares of the financial services provider's stock after purchasing an additional 7,232 shares during the period. JPMorgan Chase & Co. accounts for about 1.6% of NewEdge Wealth LLC's holdings, making the stock its 13th biggest position. NewEdge Wealth LLC's holdings in JPMorgan Chase & Co. were worth $163,599,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MBM Wealth Consultants LLC bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $29,000. Aventus Investment Advisors Inc. bought a new position in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $33,000. Osbon Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $35,000. Merrithew & Thorsten Inc purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $40,000. Finally, WHI TRUST Co LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth $45,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

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

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, beating analysts' consensus estimates of $5.59 by $0.55. The business 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 quarterly revenue was up 27.7% compared to the same quarter last year. During the same period in the previous year, the business posted $4.96 EPS. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 24.3 EPS for the current year.

Insiders Place Their Bets

In related news, insider Robin Leopold sold 2,500 shares of the company's stock in a transaction that occurred 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 owned 71,047 shares of the company's stock, valued at approximately $25,066,092.07. This represents a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 on 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 directly owned 40,961 shares in the company, valued at approximately $13,547,031.53. The trade was a 11.78% decrease in their position. 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 valued at $3,593,651 over the last ninety days. Corporate insiders own 0.41% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on JPM. The Goldman Sachs Group restated a "buy" rating and issued a $418.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $375.00 to $390.00 and gave the stock an "overweight" rating in a research note on Friday, August 14th. Morgan Stanley reissued a "positive" rating and issued a $370.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, July 15th. UBS Group increased their price target on shares of JPMorgan Chase & Co. from $384.00 to $400.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Finally, Zacks Research upgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $359.96.

JPMorgan Chase & Co. News Summary

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. 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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