Hilton Capital Management LLC Boosts Position in JPMorgan Chase & Co. $JPM

Hilton Capital Management LLC boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,907 shares of the financial services provider’s stock after buying an additional 3,552 shares during the quarter. JPMorgan Chase & Co. makes up 0.9% of Hilton Capital Management LLC’s portfolio, making the stock its 21st largest position. Hilton Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $13,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in JPM. Brighton Jones LLC raised its stake in shares of JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after acquiring an additional 4,841 shares in the last quarter. Acorns Advisers LLC grew its stake in JPMorgan Chase & Co. by 6.9% in the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 100 shares in the last quarter. Ignite Planners LLC grew its stake in JPMorgan Chase & Co. by 0.7% in the second quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider’s stock worth $3,185,000 after purchasing an additional 78 shares in the last quarter. Jump Financial LLC purchased a new position in JPMorgan Chase & Co. during the 2nd quarter worth $1,475,000. Finally, Betterment LLC increased its holdings in JPMorgan Chase & Co. by 27.5% during the 2nd quarter. Betterment LLC now owns 1,970 shares of the financial services provider’s stock worth $571,000 after purchasing an additional 425 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

More JPMorgan Chase & Co. News

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

JPMorgan Chase & Co. Stock Down 0.1%

Shares of NYSE JPM opened at $358.21 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.30. The stock has a market capitalization 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 stock’s fifty day simple moving average is $349.89 and its two-hundred day simple moving average is $320.56. JPMorgan Chase & Co. has a 12-month low of $279.10 and a 12-month high of $366.50.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.59 by $0.55. The business had revenue of $58.02 billion for the quarter, compared to the consensus estimate of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business’s revenue was up 27.7% compared to the same quarter last year. During the same period last year, the business posted $4.96 EPS. As a group, analysts expect that JPMorgan Chase & Co. will post 24.28 EPS for the current fiscal year.

Insider Transactions at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 5,467 shares of the firm’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 directly owned 40,961 shares in the company, valued at approximately $13,547,031.53. This trade represents a 11.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 JPMorgan Chase & Co. stock in a transaction that occurred on 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 transaction, the insider directly owned 73,547 shares in the company, valued at approximately $26,580,621.27. The trade was a 3.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have 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 stock an “overweight” rating in a report on Friday, August 14th. Deutsche Bank Aktiengesellschaft upgraded 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. Truist Financial upped their price objective on shares of JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a “hold” rating in a research note on Wednesday, July 15th. Weiss Ratings upgraded shares of JPMorgan Chase & Co. from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods increased their target price on shares of JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. One 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. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $359.96.

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.