TCW Group Inc. Sells 9,984 Shares of JPMorgan Chase & Co. $JPM

TCW Group Inc. decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 474,603 shares of the financial services provider’s stock after selling 9,984 shares during the period. JPMorgan Chase & Co. makes up 1.0% of TCW Group Inc.’s investment portfolio, making the stock its 19th biggest holding. TCW Group Inc.’s holdings in JPMorgan Chase & Co. were worth $155,352,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. BIP Wealth LLC lifted its stake in JPMorgan Chase & Co. by 15.6% in the 2nd quarter. BIP Wealth LLC now owns 14,948 shares of the financial services provider’s stock valued at $4,893,000 after acquiring an additional 2,019 shares in the last quarter. Phillips Financial Management LLC boosted its position in JPMorgan Chase & Co. by 0.6% during the 2nd quarter. Phillips Financial Management LLC now owns 30,532 shares of the financial services provider’s stock worth $9,994,000 after acquiring an additional 192 shares during the last quarter. Trifecta Capital Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 0.4% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 28,433 shares of the financial services provider’s stock worth $9,307,000 after acquiring an additional 110 shares in the last quarter. Next Capital Management LLC grew its stake in shares of JPMorgan Chase & Co. by 2.6% during the 2nd quarter. Next Capital Management LLC now owns 3,380 shares of the financial services provider’s stock worth $1,106,000 after acquiring an additional 87 shares in the last quarter. Finally, Elyxium Wealth LLC raised its holdings in shares of JPMorgan Chase & Co. by 23.6% in the second quarter. Elyxium Wealth LLC now owns 18,810 shares of the financial services provider’s stock valued at $6,157,000 after purchasing an additional 3,591 shares during the last quarter. 71.55% of the stock is currently owned by 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

Analysts Set New Price Targets

A number of brokerages have recently commented on JPM. Deutsche Bank Aktiengesellschaft raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a research report on Wednesday, July 22nd. Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, May 12th. Evercore restated an “outperform” rating and set a $360.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, July 6th. Finally, Barclays raised their price objective on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $359.96.

JPMorgan Chase & Co. Stock Performance

JPM opened at $358.21 on Friday. JPMorgan Chase & Co. has a 12-month low of $279.10 and a 12-month high of $366.50. The stock has a market cap of $952.19 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.49 and a beta of 0.98. The business has a 50 day moving average of $349.89 and a 200-day moving average of $320.44. 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 posted its 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 business had revenue of $58.02 billion for the quarter, compared to analyst estimates of $50.72 billion. During the same period in the previous year, the firm earned $4.96 EPS. The firm’s revenue was up 27.7% compared to the same quarter last year. On average, equities research analysts expect that JPMorgan Chase & Co. will post 24.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 5,467 shares of the company’s stock in a transaction that occurred on 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 transaction, the general counsel owned 40,961 shares of the company’s stock, valued at approximately $13,547,031.53. This represents a 11.78% 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, insider Robin Leopold sold 2,500 shares of the company’s stock in a transaction on 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 transaction, the insider directly owned 73,547 shares in the company, valued at approximately $26,580,621.27. This represents a 3.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.41% of the company’s stock.

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.