JPMorgan Chase & Co. $JPM Holdings Raised by Elevation Point Wealth Partners LLC

Key Points

• Elevation Point Wealth Partners increased its JPMorgan stake by 14.7% in the second quarter, purchasing 25,171 additional shares for a total holding valued at approximately $64.4 million. Institutional investors collectively own 71.55% of JPMorgan’s stock.
• JPMorgan reported quarterly earnings of $6.14 per share and revenue of $58.02 billion, exceeding analyst expectations, while revenue rose 27.7% year over year.
• 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. Analysts maintain a “Moderate Buy” consensus with an average price target of $359.96, although insiders have sold shares in recent months.

Elevation Point Wealth Partners LLC increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 14.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 196,682 shares of the financial services provider's stock after purchasing an additional 25,171 shares during the quarter. JPMorgan Chase & Co. comprises about 1.2% of Elevation Point Wealth Partners LLC's portfolio, making the stock its 16th biggest holding. Elevation Point Wealth Partners LLC's holdings in JPMorgan Chase & Co. were worth $64,380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Arkansas Financial Group Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 1.1% in the second quarter. Arkansas Financial Group Inc. now owns 2,667 shares of the financial services provider's stock valued at $873,000 after acquiring an additional 30 shares in the last quarter. Flynn Zito Capital Management LLC raised its holdings in JPMorgan Chase & Co. by 1.1% during the second quarter. Flynn Zito Capital Management LLC now owns 2,830 shares of the financial services provider's stock worth $926,000 after purchasing an additional 30 shares in the last quarter. Wedgewood Investors Inc. PA lifted its position in JPMorgan Chase & Co. by 1.5% in the second quarter. Wedgewood Investors Inc. PA now owns 2,059 shares of the financial services provider's stock worth $674,000 after purchasing an additional 30 shares during the period. WealthBridge Capital Management LLC boosted its stake in JPMorgan Chase & Co. by 0.3% during the 2nd quarter. WealthBridge Capital Management LLC now owns 10,503 shares of the financial services provider's stock valued at $3,438,000 after purchasing an additional 31 shares in the last quarter. Finally, LightSquare Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 1.1% during the 2nd quarter. LightSquare Wealth Management LLC now owns 2,952 shares of the financial services provider's stock valued at $966,000 after purchasing an additional 31 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

Insider Transactions at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 2,500 shares of the stock in a transaction that occurred 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 $25,066,092.07. This represents a 3.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 firm's stock in a transaction that occurred 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 in the company, valued at $13,547,031.53. This trade represents a 11.78% decrease in their position. 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. Insiders have sold 10,467 shares of company stock valued at $3,593,651 over the last 90 days. Corporate insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. News Summary

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

Analysts Set New Price Targets

A number of analysts have recently commented on JPM shares. Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $375.00 to $390.00 and gave the stock an "overweight" rating in a research note on Friday, August 14th. Evercore reaffirmed an "outperform" rating and set a $360.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, July 6th. Jefferies Financial Group set a $350.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. The Goldman Sachs Group reissued a "buy" rating and issued a $418.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 14th. Finally, Robert W. Baird lifted their price objective on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $359.96.

JPMorgan Chase & Co. Trading Down 0.1%

Shares of JPM stock opened at $348.92 on Friday. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $366.50. The company has a market cap 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 company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. The business's 50 day moving average is $353.73 and its two-hundred day moving average is $323.85.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, topping analysts' consensus estimates of $5.59 by $0.55. The business had revenue of $58.02 billion during 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%. JPMorgan Chase & Co.'s revenue for the quarter was up 27.7% on a year-over-year basis. During the same period in the previous year, the company earned $4.96 earnings per share. 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. Shareholders of record on Tuesday, October 6th will be given a dividend of $1.65 per share. The ex-dividend date of this dividend is Tuesday, October 6th. This represents a $6.60 dividend on an annualized basis and a 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 (DPR) is presently 25.71%.

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.

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