Symphony Financial Ltd. Co. Sells 1,881 Shares of JPMorgan Chase & Co. $JPM

Symphony Financial Ltd. Co. trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 24,316 shares of the financial services provider’s stock after selling 1,881 shares during the quarter. JPMorgan Chase & Co. accounts for 0.9% of Symphony Financial Ltd. Co.’s investment portfolio, making the stock its 23rd largest holding. Symphony Financial Ltd. Co.’s holdings in JPMorgan Chase & Co. were worth $8,003,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Timmons Wealth Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $27,000. MBM Wealth Consultants LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter worth about $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth about $32,000. Aventus Investment Advisors Inc. bought a new stake in JPMorgan Chase & Co. in the second quarter worth about $33,000. Finally, Osbon Capital Management LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $35,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.1%

JPM opened at $358.21 on Friday. The stock’s fifty day moving average is $349.89 and its two-hundred day moving average is $320.44. The company has a market capitalization of $952.19 billion, a P/E ratio of 15.35, a PEG 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 has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $50.72 billion. During the same period in the previous year, the company posted $4.96 EPS. JPMorgan Chase & Co.’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.

JPMorgan Chase & Co. News Summary

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 Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $330.73, for a total transaction 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 dated Tuesday, August 11th. The shares were sold at an average price of $361.41, for a total transaction of $903,525.00. Following the transaction, the insider directly owned 73,547 shares in the company, valued at $26,580,621.27. This trade represents 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. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on JPM. Evercore reaffirmed an “outperform” rating and set a $360.00 target price on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. UBS Group raised their price target on JPMorgan Chase & Co. from $384.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Royal Bank Of Canada boosted their price objective on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. Weiss Ratings raised JPMorgan Chase & Co. from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday. Finally, Bank of America increased their target price on JPMorgan Chase & Co. from $408.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $359.96.

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.