JPMorgan Chase & Co. $JPM Shares Sold by TD Asset Management Inc

TD Asset Management Inc reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 19.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,520,281 shares of the financial services provider’s stock after selling 856,444 shares during the period. JPMorgan Chase & Co. accounts for about 1.0% of TD Asset Management Inc’s holdings, making the stock its 23rd biggest holding. TD Asset Management Inc’s holdings in JPMorgan Chase & Co. were worth $1,152,294,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in JPM. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $11,396,496,000. Bank of America Corp DE increased its holdings in shares of JPMorgan Chase & Co. by 15.8% in the 1st quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider’s stock valued at $19,314,681,000 after acquiring an additional 8,941,351 shares during the period. Cardano Risk Management B.V. raised its position in JPMorgan Chase & Co. by 889.3% in the 4th quarter. Cardano Risk Management B.V. now owns 8,673,530 shares of the financial services provider’s stock valued at $2,794,785,000 after purchasing an additional 7,796,814 shares during the last quarter. Ascentis Wealth Management LLC raised its position in JPMorgan Chase & Co. by 32,672.0% in the 2nd quarter. Ascentis Wealth Management LLC now owns 4,647,071 shares of the financial services provider’s stock valued at $1,521,126,000 after purchasing an additional 4,632,891 shares during the last quarter. Finally, American Assets Investment Management LLC boosted its stake in JPMorgan Chase & Co. by 1,172.2% during the 4th quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider’s stock worth $728,024,000 after purchasing an additional 2,081,800 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on JPM shares. Morgan Stanley reissued a “positive” rating and set a $370.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, July 15th. Truist Financial upped their price objective on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the company a “hold” rating in a research note on Wednesday, July 15th. Bank of America increased their price objective on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Royal Bank Of Canada lifted their target price on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Finally, Zacks Research raised JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $359.96.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the business’s stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 company’s stock in a transaction on 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 sale, the general counsel directly owned 40,961 shares in the company, valued at $13,547,031.53. This trade represents a 11.78% 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. Corporate 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 1.1%

JPM stock opened at $358.21 on Friday. The company has a market cap of $952.19 billion, a P/E ratio of 15.35, a P/E/G ratio of 1.48 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. The company’s 50-day moving average price is $349.89 and its 200 day moving average price is $320.44. 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. (NYSE:JPM) last posted 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 company had revenue of $58.02 billion during 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 company’s revenue for the quarter was up 27.7% on a year-over-year basis. During the same period last year, the firm earned $4.96 EPS. On average, research analysts expect that JPMorgan Chase & Co. will post 24.28 earnings per share 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.