Fiduciary Financial Advisors Acquires Shares of 6,411 JPMorgan Chase & Co. $JPM

Key Points

• Fiduciary Financial Advisors purchased 6,411 JPMorgan shares worth approximately $2.1 million in the second quarter. Institutional investors collectively own 71.55% of JPMorgan’s stock.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $359.96. JPMorgan also reported quarterly earnings and revenue above expectations.
• JPMorgan raised its quarterly dividend from $1.50 to $1.65 per share, equivalent to a $6.60 annualized payout and a 1.9% yield, while investment-banking and markets revenue are expected to support near-term growth.

Fiduciary Financial Advisors bought a new position in JPMorgan Chase & Co. (NYSE:JPM) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,411 shares of the financial services provider's stock, valued at approximately $2,094,000.

Other institutional investors have also made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of JPMorgan Chase & Co. by 15.8% in the 1st quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider's stock valued at $19,314,681,000 after acquiring an additional 8,941,351 shares in the last quarter. Norges Bank purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $11,396,496,000. Bank of New York Mellon Corp raised its stake in JPMorgan Chase & Co. by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 21,642,804 shares of the financial services provider's stock valued at $7,084,339,000 after purchasing an additional 540,362 shares during the period. Legal & General Group Plc raised its stake in JPMorgan Chase & Co. by 0.6% during the 4th quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider's stock valued at $6,128,484,000 after purchasing an additional 110,586 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in JPMorgan Chase & Co. by 3.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,968,884 shares of the financial services provider's stock valued at $5,578,788,000 after purchasing an additional 607,288 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on JPM shares. Jefferies Financial Group set a $350.00 target price on JPMorgan Chase & Co. in a research report on Tuesday, July 14th. UBS Group upped their price target on JPMorgan Chase & Co. from $384.00 to $400.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Weiss Ratings raised JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a research note on Wednesday, September 2nd. Royal Bank Of Canada raised their price objective on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a "hold" rating to a "buy" rating and set a $375.00 target price on the stock 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 company's stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and an average target price of $359.96.

Key JPMorgan Chase & Co. News

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

JPMorgan Chase & Co. Trading Down 0.1%

NYSE JPM opened at $348.92 on Friday. JPMorgan Chase & Co. has a 1-year low of $279.10 and a 1-year high of $366.50. 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 company has a market capitalization of $927.49 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98. The firm's fifty day simple moving average is $353.73 and its 200-day simple moving average is $323.85.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share (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 firm had revenue of $58.02 billion during the quarter, compared to analysts' expectations of $50.72 billion. During the same quarter last year, the firm earned $4.96 earnings per share. The business's revenue for the quarter was up 27.7% on a year-over-year basis. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 24.3 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Insider Activity

In related news, insider Robin Leopold sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total transaction of $882,025.00. Following the transaction, the insider owned 71,047 shares of the company's stock, valued at approximately $25,066,092.07. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of the sale, the general counsel owned 40,961 shares of the company's stock, valued at $13,547,031.53. This trade represents a 11.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 10,467 shares of company stock valued at $3,593,651. 0.41% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Company 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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

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.