Arete Wealth Advisors LLC Grows Position in JPMorgan Chase & Co. $JPM

Key Points

• Institutional ownership increased: Arete Wealth Advisors raised its JPMorgan stake by 10.1% to 34,011 shares valued at $11.1 million, while institutional investors collectively own 71.55% of the company.
• Analysts remain broadly bullish: JPMorgan has a “Moderate Buy” consensus rating from 28 analysts, with a consensus price target of $359.96 and several firms recently raising their targets to around $420.
• Strong results and higher dividend: The bank beat quarterly earnings and revenue estimates, with EPS of $6.14 and revenue of $58.02 billion; it also increased its quarterly dividend from $1.50 to $1.65 per share. Inflation, oil prices and potential credit risks remain key concerns.

Arete Wealth Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 10.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,011 shares of the financial services provider's stock after purchasing an additional 3,129 shares during the quarter. Arete Wealth Advisors LLC's holdings in JPMorgan Chase & Co. were worth $11,133,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Mission Financial Group LLC acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter worth about $974,000. LM Advisors LLC increased its stake in JPMorgan Chase & Co. by 237.7% during the 2nd quarter. LM Advisors LLC now owns 13,918 shares of the financial services provider's stock worth $4,558,000 after buying an additional 9,796 shares during the period. Davis Asset Management L.P. lifted its holdings in JPMorgan Chase & Co. by 5.4% during the 2nd quarter. Davis Asset Management L.P. now owns 493,896 shares of the financial services provider's stock worth $161,667,000 after buying an additional 25,110 shares in the last quarter. Kirtland Hills Capital Management LLC lifted its holdings in JPMorgan Chase & Co. by 11.3% during the 2nd quarter. Kirtland Hills Capital Management LLC now owns 7,665 shares of the financial services provider's stock worth $2,509,000 after buying an additional 776 shares in the last quarter. Finally, Welch Capital Partners LLC NY purchased a new position in JPMorgan Chase & Co. in the 2nd quarter valued at approximately $210,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Analysts Set New Price Targets

JPM has been the topic of a number of recent research reports. The Goldman Sachs Group reaffirmed a "buy" rating and set a $418.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Keefe, Bruyette & Woods lifted their target price on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an "outperform" rating in a report on Wednesday, July 15th. Bank of America boosted 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. Barclays upped their price target on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a "hold" rating to a "buy" rating and set a $375.00 price objective for the company in a research note on Wednesday, July 22nd. Sixteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $359.96.

JPMorgan Chase & Co. Stock Down 0.1%

Shares of NYSE:JPM opened at $348.92 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two 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. The firm's 50-day simple moving average is $353.73 and its 200-day simple moving average is $323.85. The company has a market cap of $927.49 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.44 and a beta of 0.98.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $58.02 billion for the quarter, compared to analyst estimates of $50.72 billion. During the same quarter in the previous year, the company earned $4.96 EPS. The firm's revenue for the quarter was up 27.7% compared to the same quarter last year. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 24.3 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th will be issued a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a yield of 1.9%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio is 25.71%.

Key Stories Impacting JPMorgan Chase & Co.

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: Strong third-quarter revenue outlook: JPMorgan expects investment-banking fees and Markets revenue to increase in the mid-to-high teens year over year. A robust deal pipeline and trading activity suggest continued strength in fee income and support expectations for another strong quarter. JPMorgan Sees Investment Banking and Trading Powering Q3 Growth
• Positive Sentiment: Higher rates may support lending revenue: Following the Federal Reserve’s rate increase, JPMorgan and other major banks raised prime lending rates to 7%. This could improve asset yields and net interest income, although deposit costs and borrower demand remain important offsets. U.S. Banks Raise Prime Interest Rates Following Fed Hike
• Positive Sentiment: Shareholder-return and franchise catalysts: Analysts highlighted JPMorgan’s planned quarterly dividend increase to $1.65, while new mandates—including financing Drax’s solar acquisition and Canada airport concessions—could add to advisory and underwriting revenue. JPMorgan Dividend and Long-Term Outlook
• Neutral Sentiment: Continued strategic visibility: JPMorgan will report third-quarter results on October 13. The bank is also hosting its India conference and pursuing a large, multiyear U.S. housing initiative, developments that reinforce its global reach but are unlikely to materially affect near-term earnings. JPMorgan Third-Quarter Earnings Call Announcement
• Negative Sentiment: Inflation and oil risks remain overhangs: CEO Jamie Dimon said inflation has not clearly been defeated. Separately, JPMorgan’s commodities team abandoned a firm oil-price forecast as the prolonged Iran conflict pushed Brent above $100 per barrel. Persistent inflation could delay rate cuts, raise credit risks and increase market volatility. Jamie Dimon on Inflation

Insider Buying and Selling at JPMorgan Chase & Co.

In other 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 value of $1,808,100.91. Following the completion of the transaction, the general counsel owned 40,961 shares in the company, valued at $13,547,031.53. This trade represents a 11.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 firm's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $352.81, for a total transaction of $882,025.00. Following the completion of the sale, the insider owned 71,047 shares of the company's stock, valued at $25,066,092.07. This trade represents a 3.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 10,467 shares of company stock worth $3,593,651 over the last 90 days. Insiders own 0.41% of the company's stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, lending, payments, investment banking, asset management and wealth management services to consumers, businesses, institutional clients and governments.

The company operates through four primary business areas: Consumer & Community Banking; Commercial & Investment Banking; Asset & Wealth Management; and Corporate. Its offerings include deposit accounts, credit cards, mortgages, auto loans, business banking, commercial lending, treasury services, investment banking, securities trading, investment management and private banking.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across numerous international markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.