Summit Global Investments Has $5.42 Million Holdings in JPMorgan Chase & Co. $JPM

Summit Global Investments decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 18.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,542 shares of the financial services provider’s stock after selling 3,664 shares during the period. Summit Global Investments’ holdings in JPMorgan Chase & Co. were worth $5,415,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Fidelis Capital Partners LLC grew its stake in JPMorgan Chase & Co. by 7.9% in the 4th quarter. Fidelis Capital Partners LLC now owns 70,077 shares of the financial services provider’s stock valued at $22,580,000 after buying an additional 5,101 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services boosted its holdings in shares of JPMorgan Chase & Co. by 18.7% during the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 41,218 shares of the financial services provider’s stock worth $12,125,000 after acquiring an additional 6,492 shares during the period. Brighton Jones LLC boosted its holdings 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 worth $11,682,000 after acquiring an additional 4,841 shares during the period. FAS Wealth Partners Inc. grew its position in shares of JPMorgan Chase & Co. by 4.3% in the first quarter. FAS Wealth Partners Inc. now owns 43,527 shares of the financial services provider’s stock valued at $12,804,000 after purchasing an additional 1,794 shares during the last quarter. Finally, KTF Investments LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $6,449,000. 71.55% of the stock is owned by institutional investors and hedge funds.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, May 12th. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $375.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Truist Financial increased their price objective 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. Royal Bank Of Canada lifted their target price on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Finally, Robert W. Baird boosted their target price on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. One 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $359.96.

JPMorgan Chase & Co. Trading Down 1.1%

Shares of JPM stock opened at $358.21 on Friday. 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 cap of $952.19 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 1.49 and a beta of 0.98. The stock has a 50 day simple moving average of $349.89 and a 200 day simple moving average of $320.44. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $366.50.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (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 for the quarter, compared to the consensus estimate of $50.72 billion. During the same quarter in the prior year, the business posted $4.96 earnings per share. The firm’s quarterly revenue was up 27.7% compared to the same quarter last year. On average, research analysts predict that JPMorgan Chase & Co. will post 24.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Robin Leopold sold 2,500 shares of the firm’s stock in a transaction on 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 owned 73,547 shares in the company, valued at approximately $26,580,621.27. This trade represents a 3.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 business’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 completion of the transaction, the general counsel directly owned 40,961 shares of the company’s stock, valued at approximately $13,547,031.53. This trade represents a 11.78% 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. Corporate insiders own 0.41% of the company’s stock.

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.