Simplicity Wealth LLC Has $16.10 Million Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Simplicity Wealth LLC increased its JPMorgan Chase stake by 38.9% in the second quarter, bringing its holdings to 49,181 shares valued at approximately $16.1 million. Institutional investors and hedge funds collectively own 71.55% of the stock.
• JPMorgan reported quarterly EPS of $6.14, exceeding estimates by $0.55, while revenue rose 27.7% year over year to $58.02 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $359.96.
• Insiders sold 10,467 shares worth about $3.59 million over the past 90 days, including transactions conducted under pre-arranged Rule 10b5-1 trading plans.

Simplicity Wealth LLC increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 38.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,181 shares of the financial services provider's stock after purchasing an additional 13,781 shares during the quarter. Simplicity Wealth LLC's holdings in JPMorgan Chase & Co. were worth $16,098,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of JPM. Morgan Stanley lifted its holdings in shares of JPMorgan Chase & Co. by 1.4% during the 4th quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider's stock worth $21,390,662,000 after acquiring an additional 939,421 shares during the period. Bank of America Corp DE increased its stake 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 acquiring an additional 8,941,351 shares during the last quarter. Norges Bank acquired a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $11,396,496,000. Bank of New York Mellon Corp raised its position in JPMorgan Chase & Co. by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider's stock valued at $7,547,837,000 after purchasing an additional 1,194,583 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in JPMorgan Chase & Co. by 0.6% during 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 last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $352.81, for a total transaction of $882,025.00. Following the sale, the insider directly owned 71,047 shares of the company's stock, valued at approximately $25,066,092.07. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the business'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 sale, the general counsel owned 40,961 shares in the company, valued at approximately $13,547,031.53. This trade represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 10,467 shares of company stock valued at $3,593,651. Insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $356.77 on Friday. The firm's fifty day moving average price is $352.26 and its two-hundred day moving average price is $322.11. The stock has a market cap of $948.37 billion, a PE ratio of 15.29, a PEG ratio of 1.45 and a beta of 0.98. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $366.50. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, beating 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 analysts' expectations of $50.72 billion. During the same period in the prior year, the company earned $4.96 EPS. JPMorgan Chase & Co.'s revenue was up 27.7% compared to the same quarter last year. On average, equities analysts expect that JPMorgan Chase & Co. will post 24.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on JPM. Citigroup raised their target price on JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a "neutral" rating in a report on Monday, July 20th. UBS Group upped their price objective on JPMorgan Chase & Co. from $384.00 to $400.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $418.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. Bank of America lifted their target price on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Finally, Morgan Stanley reissued a "positive" rating and set a $370.00 target price on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 15th. One investment 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's stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and an average target price of $359.96.

Key JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan’s profitability and capital-return capacity remain major supports. Recent coverage highlighted approximately $16.9 billion in quarterly profit, with dividends consuming only a portion of earnings, leaving room for reinvestment, buybacks and future distributions. JPMorgan earnings and dividend coverage
• Positive Sentiment: The bank is expanding its European corporate-banking operations, including a reported 25% staffing increase and a push into Greece. The strategy could create additional lending, payments, investment-banking and cross-selling revenue over time. JPMorgan Greece expansion
• Positive Sentiment: Wall Street sentiment remains constructive, with JPMorgan described as a well-capitalized bank trading at an attractive valuation relative to its earnings, scale and exposure to investment banking, asset management and higher interest rates. The average analyst rating is “Moderate Buy.” JPMorgan analyst sentiment
• Neutral Sentiment: Insider Robin Leopold sold 2,500 shares for approximately $882,000 under a pre-arranged Rule 10b5-1 trading plan. The sale reduced her direct holdings by 3.4%, but its planned nature makes it a limited signal about management’s outlook. JPMorgan insider transaction
• Negative Sentiment: JPMorgan strategists warned that the equity risk premium has fallen to its lowest level since 2002. The unusually narrow compensation for owning stocks instead of bonds could limit broad market upside and increase sensitivity to disappointing economic or earnings news. JPMorgan equity risk premium warning
• Negative Sentiment: The bank’s decision to contest pressure from the Trump administration may protect its independence but could bring additional litigation, regulatory and political costs. JPMorgan political and legal risks

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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

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.