Strategic Wealth Investment Group LLC Has $20.93 Million Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Strategic Wealth Investment Group reduced its JPMorgan stake by 9.7% in the second quarter, selling 6,834 shares and retaining 63,927 shares valued at approximately $20.93 million.
• Institutional investors own 71.55% of JPMorgan’s outstanding stock, with major holders including Morgan Stanley, Bank of America, Norges Bank, Bank of New York Mellon and Legal & General.
• JPMorgan reported stronger-than-expected quarterly results, with earnings of $6.14 per share and revenue of $58.02 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $359.96, near the stock’s $358.21 opening price.

Strategic Wealth Investment Group LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 9.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,927 shares of the financial services provider's stock after selling 6,834 shares during the period. JPMorgan Chase & Co. comprises approximately 2.5% of Strategic Wealth Investment Group LLC's investment portfolio, making the stock its 9th largest position. Strategic Wealth Investment Group LLC's holdings in JPMorgan Chase & Co. were worth $20,925,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Morgan Stanley boosted its position in JPMorgan Chase & Co. by 1.4% in the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider's stock valued at $21,390,662,000 after buying an additional 939,421 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of JPMorgan Chase & Co. by 15.8% during the first quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider's stock worth $19,314,681,000 after buying an additional 8,941,351 shares in the last quarter. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $11,396,496,000. Bank of New York Mellon Corp lifted its stake in shares of JPMorgan Chase & Co. by 5.4% in the 4th 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 acquiring an additional 1,194,583 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of JPMorgan Chase & Co. by 0.6% in the 4th quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider's stock valued at $6,128,484,000 after acquiring an additional 110,586 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: Hiring strengthens JPMorgan’s healthcare investment-banking franchise. The bank reportedly hired senior healthcare banker David Blais from Guggenheim Securities, adding industry expertise and potentially supporting advisory and capital-markets revenue. JPMorgan hires healthcare banker David Blais from Guggenheim
• Positive Sentiment: Persistent inflation could keep interest rates elevated. JPMorgan and BNP Paribas now expect another European Central Bank rate increase in December. Higher rates can support net interest income, although they may also weigh on loan demand and markets activity. JPMorgan and BNP Paribas expect ECB rate hike
• Neutral Sentiment: JPMorgan’s rate outlook conflicts with market pricing. A senior JPMorgan strategist expects no U.S. rate increase for the remainder of the year, while futures markets reportedly assign meaningful odds to a hike. The disagreement increases uncertainty around bank valuations, bond trading and interest income. No increase in interest rates anytime this year
• Neutral Sentiment: A strong labor market is a mixed development. Reports of 162,000 new jobs may support loan demand and interest income, but they also raise the possibility of higher-for-longer rates, increased credit costs and valuation pressure for financial stocks. JPMorgan falls even as 162,000 jobs revive higher rates
• Negative Sentiment: Reduced financing for Jane Street highlights competitive pressure. JPMorgan reportedly scaled back financing to the quantitative trading firm as Jane Street expands in U.S. Treasury market-making, underscoring competition from nonbank firms in fixed-income markets. JPMorgan scales back Jane Street financing
• Negative Sentiment: Legal exposure remains an overhang. JPMorgan is seeking to stay a $20 million fee order related to the Javice litigation, keeping attention on litigation costs and reputational risk. JPMorgan seeks stay of $20M Javice, Amar fee order

Wall Street Analyst Weigh In

JPM has been the topic of a number of research reports. Evercore restated an "outperform" rating and set a $360.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 6th. Bank of America increased 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. Truist Financial boosted their price target on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a "hold" rating in a report on Wednesday, July 15th. Robert W. Baird raised their price objective on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Finally, Citigroup lifted their target price on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $359.96.

JPMorgan Chase & Co. Stock Down 0.1%

Shares of JPM opened at $358.21 on Monday. The company has a market capitalization of $952.19 billion, a PE ratio of 15.35, a PEG ratio of 1.48 and a beta of 0.98. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $366.50. The stock's 50-day moving average price is $349.89 and its two-hundred day moving average price is $320.56. 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. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm posted $4.96 earnings per share. The business's quarterly revenue was up 27.7% on a year-over-year basis. On average, analysts anticipate that JPMorgan Chase & Co. will post 24.28 EPS for the current year.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $361.41, for a total transaction of $903,525.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 shares were 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. The trade was a 11.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is currently owned by insiders.

About JPMorgan Chase & Co.

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.

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