Symphony Financial Ltd. Co. Decreases Stake in JPMorgan Chase & Co. $JPM

Symphony Financial Ltd. Co. reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 portfolio, making the stock its 23rd biggest holding. Symphony Financial Ltd. Co.’s holdings in JPMorgan Chase & Co. were worth $8,003,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of JPM. Fidelis Capital Partners LLC boosted its position in shares of JPMorgan Chase & Co. by 7.9% in the fourth quarter. Fidelis Capital Partners LLC now owns 70,077 shares of the financial services provider’s stock worth $22,580,000 after purchasing an additional 5,101 shares during the period. First National Bank of Mount Dora Trust Investment Services increased its stake in shares of JPMorgan Chase & Co. by 18.7% in 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 purchasing an additional 6,492 shares in the last quarter. Brighton Jones LLC raised its position in shares of JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after purchasing an additional 4,841 shares during the period. FAS Wealth Partners Inc. raised its position in shares of JPMorgan Chase & Co. by 4.3% during the 1st 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 period. Finally, KTF Investments LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at $6,449,000. 71.55% of the stock is currently owned by institutional investors.

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

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 capitalization of $952.19 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. JPMorgan Chase & Co. has a 12-month low of $279.10 and a 12-month high of $366.50. The stock’s 50-day moving average price is $349.89 and its 200-day moving average price is $320.44.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS 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 company had revenue of $58.02 billion during the quarter, compared to analyst estimates of $50.72 billion. During the same period in the prior year, the company earned $4.96 earnings per share. The firm’s revenue was up 27.7% on a year-over-year basis. Equities research analysts predict that JPMorgan Chase & Co. will post 24.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 5,467 shares of the business’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 sale, the general counsel owned 40,961 shares in the company, valued at approximately $13,547,031.53. The trade was a 11.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 the stock in a transaction on 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 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. 0.41% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on JPM shares. Robert W. Baird upped their target price on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Royal Bank Of Canada raised their price target on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an “outperform” rating 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 stock a “hold” rating in a research note on Wednesday, July 15th. Evercore reiterated an “outperform” rating and set a $360.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, July 6th. Finally, Barclays lifted their target price on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the company an “overweight” rating in a research note 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 stock. According to MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target 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.