JPMorgan Chase & Co. $JPM Stock Holdings Lifted by SmartHarvest Portfolios LLC

SmartHarvest Portfolios LLC increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 36.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,371 shares of the financial services provider’s stock after acquiring an additional 3,581 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.4% of SmartHarvest Portfolios LLC’s holdings, making the stock its 12th largest position. SmartHarvest Portfolios LLC’s holdings in JPMorgan Chase & Co. were worth $4,377,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in JPM. Timmons Wealth Management LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $27,000. MBM Wealth Consultants LLC acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter worth $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $32,000. Aventus Investment Advisors Inc. purchased a new position in shares of JPMorgan Chase & Co. during the second quarter valued at $33,000. Finally, Osbon Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.1%

Shares of JPM stock opened at $358.21 on Friday. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $366.50. The company has a market cap of $952.19 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. 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 business’s 50 day moving average is $349.89 and its two-hundred day moving average is $320.44.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts’ consensus estimates of $5.59 by $0.55. The business had revenue of $58.02 billion during the quarter, compared to analysts’ expectations of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. JPMorgan Chase & Co.’s revenue for the quarter was up 27.7% on a year-over-year basis. During the same period in the previous year, the company earned $4.96 earnings per share. Equities analysts predict that JPMorgan Chase & Co. will post 24.28 EPS for the current year.

Trending Headlines about 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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $375.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Weiss Ratings upgraded shares of JPMorgan Chase & Co. from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday. Jefferies Financial Group set a $350.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Evercore reiterated an “outperform” rating and issued a $360.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. Finally, UBS Group increased their target price on shares of JPMorgan Chase & Co. from $384.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $359.96.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 5,467 shares of JPMorgan Chase & Co. 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 transaction, the general counsel directly owned 40,961 shares in the company, valued at approximately $13,547,031.53. The trade was a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $361.41, for a total value of $903,525.00. Following the transaction, the insider directly owned 73,547 shares of the company’s stock, valued at $26,580,621.27. This represents a 3.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is 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.