Pictet Asset Management Holding SA Purchases 90,373 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Pictet Asset Management Holding SA increased its JPMorgan stake by 6.5% in the second quarter, purchasing 90,373 shares and bringing its holdings to 1.49 million shares valued at approximately $486.6 million. Institutional investors collectively own 71.55% of the company.
• JPMorgan reported quarterly earnings of $6.14 per share, exceeding the $5.59 consensus estimate, while revenue reached $58.02 billion, up 27.7% year over year. The stock was trading near its 52-week high, with a market capitalization of about $950.4 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $359.96, although insiders recently sold shares under pre-arranged Rule 10b5-1 plans. Insider ownership stands at just 0.41%.

Pictet Asset Management Holding SA raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,486,565 shares of the financial services provider's stock after buying an additional 90,373 shares during the period. Pictet Asset Management Holding SA owned about 0.06% of JPMorgan Chase & Co. worth $486,598,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Acorn Wealth Advisors LLC raised its stake in JPMorgan Chase & Co. by 1.2% during the 2nd quarter. Acorn Wealth Advisors LLC now owns 12,815 shares of the financial services provider's stock worth $4,195,000 after acquiring an additional 152 shares during the period. Assetmark Inc. boosted its position in shares of JPMorgan Chase & Co. by 3.8% during the second quarter. Assetmark Inc. now owns 853,617 shares of the financial services provider's stock worth $279,414,000 after acquiring an additional 31,214 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of JPMorgan Chase & Co. by 21.4% during the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 116,871 shares of the financial services provider's stock valued at $38,255,000 after purchasing an additional 20,594 shares during the last quarter. Pinkerton Wealth LLC boosted its stake in JPMorgan Chase & Co. by 0.6% during the second quarter. Pinkerton Wealth LLC now owns 21,524 shares of the financial services provider's stock valued at $7,045,000 after buying an additional 138 shares during the last quarter. Finally, SkyOak Wealth LLC lifted its position in JPMorgan Chase & Co. by 1.0% during the second quarter. SkyOak Wealth LLC now owns 26,977 shares of the financial services provider's stock valued at $8,830,000 after purchasing an additional 267 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Activity

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,467 shares of the company's stock in a transaction dated 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 transaction, the general counsel directly owned 40,961 shares in the company, valued at $13,547,031.53. This represents a 11.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 firm'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 transaction, the insider directly owned 73,547 shares in the company, valued at approximately $26,580,621.27. This trade represents a 3.29% 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. 0.41% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $357.54 on Monday. 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 stock's fifty day moving average is $347.44 and its two-hundred day moving average is $318.80. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $366.50. The company has a market capitalization of $950.41 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.55. The business had revenue of $58.02 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 27.7% compared to the same quarter last year. During the same period last year, the company earned $4.96 earnings per share. As a group, analysts expect that JPMorgan Chase & Co. will post 24.28 earnings per share for the current year.

Analysts Set New Price Targets

JPM has been the subject of a number of recent research reports. Bank of America lifted their target price on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Citigroup raised their price target on JPMorgan Chase & Co. from $325.00 to $360.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. HSBC lifted their price objective on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a "hold" rating in a research note on Monday, May 4th. Evercore reiterated an "outperform" rating and set a $360.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 6th. Finally, Jefferies Financial Group set a $350.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and an average price target of $359.96.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan is expanding its retail footprint with a planned branch in the Lake Norman area and a new Frisco, Texas, lease. The moves support long-term deposit gathering, customer acquisition and local commercial-banking growth, although the near-term earnings impact is likely modest. Chase Bank plans to open new branch in Lake Norman JPMorgan Chase plans expansion, signs Frisco lease
• Positive Sentiment: A new collaboration with Experian will embed account and payee verification into payment workflows. By helping businesses detect incorrect accounts and potential fraud before funds are sent, the service could strengthen JPMorgan’s payments offering and create additional enterprise relationships. Experian and JPMorgan Push Account Checks Into Payment Workflows
• Positive Sentiment: JPMorgan’s potential stablecoin is viewed as a way to extend its blockchain-payment capabilities, accelerate settlement and deepen institutional digital-finance relationships. The initiative could improve the bank’s competitive position in payments, though commercialization and regulatory execution remain uncertain. Can JPMorgan's Stablecoin Push Strengthen Its Digital Payments Edge?
• Neutral Sentiment: Recent comparisons indicate JPMorgan has helped lead gains among diversified banks, with analysts remaining moderately optimistic. That supports sentiment but offers limited new information about earnings or valuation. How Is JPMorgan Chase's Stock Performance Compared to Other Diversified Bank Stocks
• Negative Sentiment: Regulatory scrutiny is a key risk. The SEC reportedly subpoenaed JPMorgan and other major banks over margin lending to a hedge fund that suffered a steep drawdown. Separately, a proposed GSIB capital-surcharge revision and a technical funding change could reduce expected capital relief, potentially pressuring returns and buyback capacity. SEC Probe Puts Wall Street Leverage Risk Back in Focus JPMorgan Prices One Fed Formula at 61% of Quarterly Profit

JPMorgan Chase & Co. Profile

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.

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