Tocqueville Asset Management L.P. Decreases Position in JPMorgan Chase & Co. $JPM

Key Points

• Tocqueville Asset Management cut its JPMorgan Chase position by 4.3% in the second quarter, selling 10,684 shares and retaining 240,659 shares valued at approximately $78.8 million. Institutional investors and hedge funds collectively own 71.55% of JPM stock.
• JPMorgan reported strong quarterly results, with EPS of $6.14 surpassing estimates of $5.59 and revenue rising 27.7% year over year to $58.02 billion. Analysts maintain a “Moderate Buy” consensus and an average price target of $359.96.
• The stock opened at $350.32, near its 52-week high of $366.50. Recent developments include JPMorgan repositioning its private bank around AI-driven wealth creation, while higher oil prices and related inflation concerns pose broader risks.

Tocqueville Asset Management L.P. decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 4.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 240,659 shares of the financial services provider's stock after selling 10,684 shares during the period. JPMorgan Chase & Co. comprises approximately 1.0% of Tocqueville Asset Management L.P.'s portfolio, making the stock its 21st biggest holding. Tocqueville Asset Management L.P.'s holdings in JPMorgan Chase & Co. were worth $78,775,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in JPM. Bank of America Corp DE increased its holdings in JPMorgan Chase & Co. by 15.8% during the 1st 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 in the last quarter. Norges Bank acquired a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $11,396,496,000. Bank of New York Mellon Corp boosted its stake in shares of JPMorgan Chase & Co. by 2.6% during the second 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 during the last quarter. Legal & General Group Plc boosted its stake in shares of 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 valued at $6,128,484,000 after acquiring an additional 110,586 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in 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 worth $5,578,788,000 after purchasing an additional 607,288 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on JPM. Deutsche Bank Aktiengesellschaft raised shares of JPMorgan Chase & Co. from a "hold" rating to a "buy" rating and set a $375.00 price target on the stock in a research note on Wednesday, July 22nd. Bank of America raised their target price on shares of JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $418.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. Evercore reissued an "outperform" rating and set a $360.00 price target on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. Finally, Jefferies Financial Group set a $350.00 price target on JPMorgan Chase & Co. in a research note on Tuesday, July 14th. One investment 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 company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $359.96.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $350.32 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.85. JPMorgan Chase & Co. has a 1-year low of $279.10 and a 1-year high of $366.50. The firm has a market capitalization of $931.22 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.47 and a beta of 0.98. The business's 50-day simple moving average is $352.51 and its 200-day simple moving average is $322.66.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The firm had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $50.72 billion. During the same quarter in the prior year, the company earned $4.96 EPS. The company's revenue was up 27.7% on a year-over-year basis. Equities analysts predict that JPMorgan Chase & Co. will post 24.3 EPS for the current year.

Insider Activity at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction on 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 completion of the sale, the general counsel owned 40,961 shares of the company's stock, valued at $13,547,031.53. This represents a 11.78% decrease in their ownership of the stock. The transaction 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 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 $25,066,092.07. The trade was a 3.40% 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. Over the last quarter, insiders have sold 10,467 shares of company stock valued at $3,593,651. 0.41% of the stock is owned by insiders.

About JPMorgan Chase & Co.

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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