Oppenheimer Asset Management Inc. Acquires 5,808 Shares of JPMorgan Chase & Co. $JPM

Oppenheimer Asset Management Inc. raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 440,848 shares of the financial services provider’s stock after acquiring an additional 5,808 shares during the quarter. JPMorgan Chase & Co. makes up 1.5% of Oppenheimer Asset Management Inc.’s investment portfolio, making the stock its 8th largest position. Oppenheimer Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $144,303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Timmons Wealth Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $32,000. MBM Wealth Consultants LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $29,000. Aventus Investment Advisors Inc. purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at approximately $33,000. Finally, Osbon Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.1%

JPM stock 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 stock has a market capitalization of $952.19 billion, a P/E ratio of 15.35, a PEG ratio of 1.49 and a beta of 0.98. JPMorgan Chase & Co. has a one year low of $279.10 and a one 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 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 company had revenue of $58.02 billion for the quarter, compared to analyst estimates of $50.72 billion. During the same quarter in the prior year, the company posted $4.96 EPS. The business’s revenue for the quarter was up 27.7% compared to the same quarter last year. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 24.28 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on JPM. Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings upgraded JPMorgan Chase & Co. from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday. Robert W. Baird increased their price objective on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Zacks Research upgraded JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. One equities research 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. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus price target of $359.96.

Insider Activity

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,467 shares of the firm’s 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $361.41, for a total value of $903,525.00. Following the completion of the sale, the insider owned 73,547 shares of the company’s stock, 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. Corporate insiders own 0.41% of the company’s stock.

Key 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

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.