International Assets Investment Management LLC Invests $371.19 Million in JPMorgan Chase & Co. $JPM

Key Points

• International Assets Investment Management LLC disclosed a new first-quarter stake in JPMorgan Chase, buying 1,261,880 shares worth about $371.2 million. The position makes JPMorgan its second-largest holding and about 8.7% of its portfolio.
• JPMorgan recently reported strong quarterly results, with EPS of $5.94 beating estimates and revenue of $50.54 billion topping forecasts. The bank also raised its full-year net interest income outlook to $105.5 billion.
• The company declared a quarterly dividend of $1.50 per share, payable July 31, implying a 1.7% annualized yield. Meanwhile, analysts remained constructive, with several raising price targets and consensus still at Moderate Buy.

International Assets Investment Management LLC bought a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,261,880 shares of the financial services provider's stock, valued at approximately $371,195,000. JPMorgan Chase & Co. makes up approximately 8.7% of International Assets Investment Management LLC's investment portfolio, making the stock its 2nd biggest position.

Other hedge funds also recently modified their holdings of the company. Trifecta Capital Advisors LLC grew its holdings in JPMorgan Chase & Co. by 0.9% during the first quarter. Trifecta Capital Advisors LLC now owns 28,323 shares of the financial services provider's stock worth $8,332,000 after buying an additional 266 shares in the last quarter. Anchor Investment Management LLC lifted its stake in JPMorgan Chase & Co. by 1.4% during the 1st quarter. Anchor Investment Management LLC now owns 40,707 shares of the financial services provider's stock valued at $11,974,000 after acquiring an additional 577 shares in the last quarter. Castleview Partners LLC boosted its holdings in JPMorgan Chase & Co. by 13.4% during the 1st quarter. Castleview Partners LLC now owns 2,817 shares of the financial services provider's stock worth $829,000 after acquiring an additional 333 shares during the last quarter. United Bank boosted its holdings in JPMorgan Chase & Co. by 1.2% during the 1st quarter. United Bank now owns 28,574 shares of the financial services provider's stock worth $8,405,000 after acquiring an additional 339 shares during the last quarter. Finally, ARQ Wealth Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 9.9% in the 1st quarter. ARQ Wealth Advisors LLC now owns 1,663 shares of the financial services provider's stock worth $489,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Down 1.1%

Shares of JPMorgan Chase & Co. stock opened at $343.02 on Friday. The firm has a market cap of $919.14 billion, a PE ratio of 14.70, a P/E/G ratio of 1.57 and a beta of 0.99. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $351.24. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.86. The stock has a fifty day moving average price of $318.31 and a 200-day moving average price of $310.09.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping analysts' consensus estimates of $5.50 by $0.44. The company had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The firm's quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the firm earned $5.07 EPS. Equities research analysts anticipate that JPMorgan Chase & Co. will post 22.95 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.'s payout ratio is presently 25.71%.

Key Headlines Impacting JPMorgan Chase & Co.

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

• Positive Sentiment: JPMorgan reported blowout Q2 results, including record net income of $21.2 billion, with CEO Jamie Dimon saying the economy remains “close to as good as it gets.” The bank also posted strong trading and investment banking performance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income -- Up 41% -- and CEO Jamie Dimon Said the Economy Is "Close to as Good as It Gets."
• Positive Sentiment: Analysts turned more bullish after earnings, with Bank of America, Keefe, Bruyette & Woods, and Truist all lifting price targets, reflecting confidence in JPMorgan’s profitability, capital flexibility, and guidance for stronger net interest income. Analyst price-target updates
• Positive Sentiment: JPMorgan raised its full-year net interest income outlook to $105.5 billion, signaling that core lending revenue remains resilient even after the Federal Reserve’s policy changes. JPMorgan Chase Just Posted 86% Growth in Equities Trading Revenue and Raised Its Full-Year Net Interest Income Guidance to $105.5 Billion
• Neutral Sentiment: JPMorgan continued to show market leadership and a path toward a possible $1 trillion valuation, helped by its scale in lending, trading, and dealmaking, but that milestone may also be encouraging some short-term profit taking after the stock’s sharp run. Dimon-led JPMorgan poised to become world's first $1 trillion bank
• Neutral Sentiment: The bank also announced a $24 million investment in Philadelphia shipbuilding and defense manufacturing, which supports its long-term industrial finance strategy but is unlikely to move the stock materially by itself. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Some commentary focused on JPMorgan’s higher expense outlook following earnings, suggesting costs could rise faster than investors expected and tempering enthusiasm after the strong report. Its Dividend Looks Secure, But Don’t Chase JPM Stock After Q2 Earnings. Here’s Why.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 5,468 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the sale, the general counsel owned 46,428 shares of the company's stock, valued at approximately $13,940,935.56. The trade was a 10.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the completion of the sale, the chief operating officer directly owned 85,082 shares in the company, valued at $26,326,072.44. This trade represents a 5.47% 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. Insiders have sold a total of 18,876 shares of company stock worth $5,907,051 over the last three months. 0.41% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barclays increased their target price on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the company an "overweight" rating in a report on Wednesday. Evercore restated an "outperform" rating and set a $360.00 price target on shares of JPMorgan Chase & Co. in a report on Monday, July 6th. Daiwa Securities Group reduced their price objective on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating for the company in a research report on Tuesday, April 7th. Autonomous Res decreased their price objective on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a "neutral" rating for the company in a research note on Monday, April 6th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an "outperform" rating in a research report on Wednesday. Fifteen analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $354.92.

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.

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.