TCW Group Inc. Has $155.35 Million Stake in JPMorgan Chase & Co. $JPM

TCW Group Inc. lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 474,603 shares of the financial services provider’s stock after selling 9,984 shares during the quarter. JPMorgan Chase & Co. comprises about 1.0% of TCW Group Inc.’s investment portfolio, making the stock its 19th largest position. TCW Group Inc.’s holdings in JPMorgan Chase & Co. were worth $155,352,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in JPM. BIP Wealth LLC increased its stake in shares of JPMorgan Chase & Co. by 15.6% in the second quarter. BIP Wealth LLC now owns 14,948 shares of the financial services provider’s stock valued at $4,893,000 after buying an additional 2,019 shares in the last quarter. Phillips Financial Management LLC grew its holdings in JPMorgan Chase & Co. by 0.6% during the 2nd quarter. Phillips Financial Management LLC now owns 30,532 shares of the financial services provider’s stock worth $9,994,000 after acquiring an additional 192 shares during the last quarter. Trifecta Capital Advisors LLC increased its position in JPMorgan Chase & Co. by 0.4% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 28,433 shares of the financial services provider’s stock valued at $9,307,000 after acquiring an additional 110 shares in the last quarter. Next Capital Management LLC raised its stake in shares of JPMorgan Chase & Co. by 2.6% in the second quarter. Next Capital Management LLC now owns 3,380 shares of the financial services provider’s stock worth $1,106,000 after acquiring an additional 87 shares during the last quarter. Finally, Elyxium Wealth LLC raised its stake in shares of JPMorgan Chase & Co. by 23.6% in the second quarter. Elyxium Wealth LLC now owns 18,810 shares of the financial services provider’s stock worth $6,157,000 after acquiring an additional 3,591 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on JPM. Royal Bank Of Canada increased their price target on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $375.00 to $390.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Truist Financial boosted their target price on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a “hold” rating in a research report on Wednesday, July 15th. Bank of America upped their price target on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Finally, Barclays raised their target price on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the company an “overweight” 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 data from MarketBeat.com, the stock currently 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 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 completion of the transaction, the insider directly owned 73,547 shares of the company’s stock, valued at approximately $26,580,621.27. The trade was a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 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 completion of the sale, the general counsel owned 40,961 shares of the company’s stock, 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. Insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.1%

Shares of NYSE:JPM opened at $358.21 on Friday. The company has a 50 day moving average price of $349.89 and a two-hundred day moving average price of $320.44. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $952.19 billion, a PE ratio of 15.35, a PEG ratio of 1.49 and a beta of 0.98. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week 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 the consensus estimate 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 company had revenue of $58.02 billion during the quarter, compared to analyst estimates of $50.72 billion. During the same quarter in the previous year, the business earned $4.96 EPS. The firm’s revenue was up 27.7% on a year-over-year basis. Analysts forecast that JPMorgan Chase & Co. will post 24.28 earnings per share 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

JPMorgan Chase & Co. Company Profile

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.