Connor Clark & Lunn Investment Management Ltd. Purchases 217,342 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Connor Clark & Lunn increased its JPMorgan position by 44.8% in the second quarter, purchasing 217,342 shares and bringing its holdings to 702,078 shares valued at approximately $229.8 million. Institutional investors and hedge funds collectively own 71.55% of JPMorgan’s stock.
• JPMorgan reported strong quarterly results, with $6.14 in EPS and $58.02 billion in revenue, exceeding analyst expectations. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $359.96.
• The bank raised its quarterly dividend from $1.50 to $1.65 per share, equivalent to an annualized $6.60 dividend and a 1.9% yield. Potential support comes from stronger investment-banking and Markets revenue, while inflation and oil-price risks remain concerns.

Connor Clark & Lunn Investment Management Ltd. raised its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 44.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 702,078 shares of the financial services provider's stock after buying an additional 217,342 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in JPMorgan Chase & Co. were worth $229,811,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Arete Wealth Advisors LLC lifted its position in shares of JPMorgan Chase & Co. by 10.1% during the 2nd quarter. Arete Wealth Advisors LLC now owns 34,011 shares of the financial services provider's stock worth $11,133,000 after buying an additional 3,129 shares during the last quarter. Mission Financial Group LLC acquired a new position in JPMorgan Chase & Co. during the 2nd quarter worth approximately $974,000. LM Advisors LLC lifted its stake in JPMorgan Chase & Co. by 237.7% in the 2nd quarter. LM Advisors LLC now owns 13,918 shares of the financial services provider's stock valued at $4,558,000 after purchasing an additional 9,796 shares during the last quarter. Davis Asset Management L.P. boosted its position in JPMorgan Chase & Co. by 5.4% in the second quarter. Davis Asset Management L.P. now owns 493,896 shares of the financial services provider's stock valued at $161,667,000 after buying an additional 25,110 shares in the last quarter. Finally, Kirtland Hills Capital Management LLC grew its stake in shares of JPMorgan Chase & Co. by 11.3% during the second 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 during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 2,500 shares of the company's stock in a transaction on Thursday, September 10th. The stock was 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 in the company, valued at approximately $25,066,092.07. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the 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 completion of the sale, the general counsel directly owned 40,961 shares of the company's stock, valued at $13,547,031.53. The trade was a 11.78% 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. In the last ninety days, insiders have sold 10,467 shares of company stock worth $3,593,651. 0.41% of the stock is owned by insiders.

JPMorgan Chase & Co. News Roundup

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

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of research reports. The Goldman Sachs Group reiterated a "buy" rating and issued a $418.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. UBS Group lifted their target price on shares of JPMorgan Chase & Co. from $384.00 to $400.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Jefferies Financial Group set a $350.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. Finally, Truist Financial increased their price objective on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the company a "hold" rating in a report on Wednesday, July 15th. Sixteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $359.96.

JPMorgan Chase & Co. Stock Down 0.1%

Shares of NYSE JPM opened at $348.92 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.85. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $366.50. The stock has a market capitalization of $927.49 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.44 and a beta of 0.98. The company has a 50-day moving average price of $353.73 and a 200-day moving average price of $323.85.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.59 by $0.55. The business had revenue of $58.02 billion for the quarter, compared to analysts' expectations of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The firm's revenue for the quarter was up 27.7% compared to the same quarter last year. During the same quarter last year, the firm earned $4.96 EPS. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 24.3 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

JPMorgan Chase & Co. Profile

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.

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