Wedbush Securities Inc. Trims Stake in JPMorgan Chase & Co. $JPM

Key Points

• Wedbush Securities reduced its JPMorgan stake by 3.7% in the second quarter, selling 3,408 shares and retaining 89,166 shares valued at approximately $29.2 million.
• Institutional investors and hedge funds own 71.55% of JPMorgan’s shares, while company insiders own 0.41%; insiders sold 10,467 shares worth $3.6 million during the latest quarter.
• Wall Street remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $359.96. JPMorgan’s latest quarterly results exceeded expectations, reporting $6.14 in EPS and $58.02 billion in revenue.

Wedbush Securities Inc. lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,166 shares of the financial services provider's stock after selling 3,408 shares during the period. JPMorgan Chase & Co. makes up 0.8% of Wedbush Securities Inc.'s investment portfolio, making the stock its 20th largest position. Wedbush Securities Inc.'s holdings in JPMorgan Chase & Co. were worth $29,187,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Concorde Asset Management LLC increased its position in shares of JPMorgan Chase & Co. by 1.1% during the second quarter. Concorde Asset Management LLC now owns 2,660 shares of the financial services provider's stock valued at $871,000 after acquiring an additional 29 shares during the last quarter. Arkansas Financial Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 1.1% in the 2nd quarter. Arkansas Financial Group Inc. now owns 2,667 shares of the financial services provider's stock worth $873,000 after acquiring an additional 30 shares during the last quarter. Flynn Zito Capital Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1.1% in the 2nd quarter. Flynn Zito Capital Management LLC now owns 2,830 shares of the financial services provider's stock worth $926,000 after acquiring an additional 30 shares during the last quarter. Wedgewood Investors Inc. PA boosted its position in shares of JPMorgan Chase & Co. by 1.5% during the 2nd quarter. Wedgewood Investors Inc. PA now owns 2,059 shares of the financial services provider's stock worth $674,000 after purchasing an additional 30 shares during the period. Finally, WealthBridge Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. by 0.3% during the 2nd quarter. WealthBridge Capital Management LLC now owns 10,503 shares of the financial services provider's stock worth $3,438,000 after purchasing an additional 31 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total value 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 represents a 3.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 firm's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of the sale, the general counsel owned 40,961 shares in the company, valued at $13,547,031.53. The trade was a 11.78% decrease in their ownership of the stock. 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. Insiders have sold a total of 10,467 shares of company stock valued at $3,593,651 in the last quarter. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. UBS Group boosted their target price on JPMorgan Chase & Co. from $384.00 to $400.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Weiss Ratings upgraded JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a research report on Wednesday, September 2nd. 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. Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an "outperform" rating in a report on Wednesday, July 15th. Finally, Royal Bank Of Canada increased their target price on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and a consensus price target of $359.96.

JPMorgan Chase & Co. Price Performance

Shares of 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. The company has a market cap of $931.22 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.47 and a beta of 0.98. The stock's 50-day moving average is $352.51 and its two-hundred day moving average is $322.66. JPMorgan Chase & Co. has a 1-year low of $279.10 and a 1-year high of $366.50.

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 EPS for the quarter, topping 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 business had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $50.72 billion. During the same period in the previous year, the company posted $4.96 earnings per share. The business's revenue for the quarter was up 27.7% on a year-over-year basis. Analysts forecast that JPMorgan Chase & Co. will post 24.3 EPS for the current fiscal year.

More JPMorgan Chase & Co. News

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. Company 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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