TD Asset Management Inc Lowers Stock Holdings in JPMorgan Chase & Co. $JPM

TD Asset Management Inc reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 19.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,520,281 shares of the financial services provider’s stock after selling 856,444 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.0% of TD Asset Management Inc’s portfolio, making the stock its 23rd biggest position. TD Asset Management Inc owned 0.13% of JPMorgan Chase & Co. worth $1,152,294,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Timmons Wealth Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $27,000. MBM Wealth Consultants LLC acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $32,000. Aventus Investment Advisors Inc. purchased a new position in JPMorgan Chase & Co. in the 2nd quarter valued at approximately $33,000. Finally, Osbon Capital Management LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $35,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. News Roundup

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

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction that occurred 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 transaction, the general counsel directly owned 40,961 shares in the company, valued at $13,547,031.53. This represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of the firm’s 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 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 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 insiders.

JPMorgan Chase & Co. Stock Down 1.1%

JPMorgan Chase & Co. stock opened at $358.21 on Friday. The stock has a market cap of $952.19 billion, a PE ratio of 15.35, a P/E/G ratio of 1.48 and a beta of 0.98. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s fifty day moving average is $349.89 and its two-hundred day moving average is $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 released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $50.72 billion. During the same period in the prior year, the firm posted $4.96 EPS. The business’s quarterly revenue was up 27.7% compared to the same quarter last year. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 24.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on JPM. Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $375.00 to $390.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. Barclays boosted their target price on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 price target on the stock in a research report on Wednesday, July 22nd. Evercore reissued an “outperform” rating and set a $360.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 6th. Finally, Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $359.96.

JPMorgan Chase & Co. 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.