Jones Financial Companies Lllp Has $717.37 Million Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Jones Financial Companies increased its JPMorgan stake by 10.9% in the second quarter, buying 214,405 additional shares. It ended the period with 2.18 million shares valued at approximately $717.4 million, while institutional investors and hedge funds collectively owned 71.55% of JPM stock.
• JPMorgan reported strong quarterly results, with EPS of $6.14 beating estimates of $5.59 and revenue rising 27.7% year over year to $58.02 billion. The bank also raised its quarterly dividend from $1.50 to $1.65 per share, implying a 1.9% yield.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $359.96. However, inflation, elevated oil prices and related credit and market-volatility risks remain potential headwinds.

Jones Financial Companies Lllp increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 10.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,180,764 shares of the financial services provider's stock after buying an additional 214,405 shares during the quarter. Jones Financial Companies Lllp owned 0.08% of JPMorgan Chase & Co. worth $717,374,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Sone Capital Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 78.0% during the second quarter. Sone Capital Management LLC now owns 42,160 shares of the financial services provider's stock valued at $13,800,000 after purchasing an additional 18,471 shares in the last quarter. Trajan Wealth LLC increased its stake in shares of JPMorgan Chase & Co. by 12.9% in the second quarter. Trajan Wealth LLC now owns 76,924 shares of the financial services provider's stock valued at $25,179,000 after buying an additional 8,801 shares during the period. Veratis Advisors Inc. acquired a new position in shares of JPMorgan Chase & Co. in the second quarter valued at approximately $308,000. Verity Asset Management Inc. raised its holdings in JPMorgan Chase & Co. by 7.2% in the 2nd quarter. Verity Asset Management Inc. now owns 2,056 shares of the financial services provider's stock valued at $673,000 after buying an additional 138 shares during the last quarter. Finally, Peak Asset Management LLC raised its holdings in JPMorgan Chase & Co. by 7.0% in the 2nd quarter. Peak Asset Management LLC now owns 82,577 shares of the financial services provider's stock valued at $27,030,000 after buying an additional 5,406 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the stock in a transaction dated 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 directly owned 71,047 shares in the company, valued at approximately $25,066,092.07. This trade represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Stock Down 0.2%

JPMorgan Chase & Co. stock opened at $348.92 on Monday. The firm 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. has a 52-week low of $279.10 and a 52-week high of $366.50. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a 50 day moving average price of $353.73 and a two-hundred day moving average price of $324.03.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, beating analysts' consensus estimates of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The company had revenue of $58.02 billion for the quarter, compared to analyst estimates of $50.72 billion. During the same period in the prior year, the firm posted $4.96 EPS. The company's quarterly revenue was up 27.7% on a year-over-year basis. Equities analysts predict that JPMorgan Chase & Co. will post 24.3 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

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

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

Wall Street Analysts Forecast Growth

JPM has been the topic of several recent research reports. 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, July 15th. Truist Financial raised their price target on shares of JPMorgan Chase & Co. from $344.00 to $352.00 and gave the company a "hold" rating in a research note on Wednesday, July 15th. UBS Group raised their price target on shares of JPMorgan Chase & Co. from $384.00 to $400.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Weiss Ratings upgraded shares of JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a report on Wednesday, September 2nd. Finally, Citigroup increased their price objective on JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Sixteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $359.96.

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.