JPMorgan Chase & Co. $JPM Shares Bought by McAdam LLC

McAdam LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 33.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,014 shares of the financial services provider’s stock after buying an additional 1,994 shares during the period. McAdam LLC’s holdings in JPMorgan Chase & Co. were worth $2,623,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Timmons Wealth Management LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $32,000. MBM Wealth Consultants LLC acquired a new position in shares of JPMorgan Chase & Co. during the first quarter worth $29,000. Aventus Investment Advisors Inc. acquired a new position in shares of JPMorgan Chase & Co. during the second quarter worth $33,000. Finally, Osbon Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $35,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada raised their price target on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $375.00 to $390.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Barclays upped their price objective on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Evercore reaffirmed an “outperform” rating and set a $360.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, July 6th. Finally, UBS Group lifted their target price on 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 equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $359.96.

Insider Activity

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the 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 transaction, the insider owned 73,547 shares of the company’s stock, valued at $26,580,621.27. This trade represents a 3.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 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 owned 40,961 shares in the company, valued at $13,547,031.53. This trade represents a 11.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.41% of the company’s stock.

Key Headlines 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

JPMorgan Chase & Co. Stock Down 0.1%

Shares of NYSE:JPM opened at $358.21 on Monday. The firm 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 fifty day simple moving average of $349.89 and a 200 day simple moving average of $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. has a 12-month low of $279.10 and a 12-month high of $366.50.

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

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.