JPMorgan Chase & Co. $JPM is EFG International AG's 10th Largest Position

Key Points

• EFG International reduced its JPMorgan stake by 4.2% in the second quarter, but still held 377,555 shares worth approximately $123.6 million, making JPM its 10th-largest position. Institutional investors own 71.55% of the stock.
• JPMorgan reported strong quarterly results, with adjusted earnings of $6.14 per share and revenue of $58.02 billion, beating estimates and marking 27.7% year-over-year revenue growth. The bank also raised its quarterly dividend to $1.65 per share.
• Wall Street remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $359.96. Growth is supported by investment banking and trading activity, though inflation, oil prices and potential credit risks remain concerns.

EFG International AG lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 377,555 shares of the financial services provider's stock after selling 16,583 shares during the quarter. JPMorgan Chase & Co. comprises about 2.3% of EFG International AG's investment portfolio, making the stock its 10th biggest holding. EFG International AG's holdings in JPMorgan Chase & Co. were worth $123,636,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Bank of America Corp DE lifted its position in JPMorgan Chase & Co. by 15.8% during the first 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 purchasing an additional 8,941,351 shares during the period. Norges Bank purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth approximately $11,396,496,000. Bank of New York Mellon Corp grew its position in JPMorgan Chase & Co. by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,642,804 shares of the financial services provider's stock worth $7,084,339,000 after purchasing an additional 540,362 shares during the period. Legal & General Group Plc grew its position in JPMorgan Chase & Co. by 0.6% in the 4th quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider's stock worth $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 buying an additional 607,288 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JPM. Robert W. Baird increased their price target on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Truist Financial lifted their price objective on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a "hold" rating in a report on Wednesday, July 15th. Barclays upped their price objective on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. 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 report on Wednesday, July 22nd. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $418.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 14th. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $359.96.

JPMorgan Chase & Co. Stock Down 0.2%

Shares of JPM stock opened at $348.92 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $366.50. The stock has a market cap 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 simple moving average of $353.73 and a two-hundred day simple moving average of $324.03.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $58.02 billion for the quarter, compared to analysts' expectations of $50.72 billion. During the same quarter last year, the company posted $4.96 EPS. The company's revenue was up 27.7% compared to the same quarter last year. On average, research analysts expect that JPMorgan Chase & Co. will post 24.3 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

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

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the business's 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 owned 71,047 shares of the company's stock, valued at approximately $25,066,092.07. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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. 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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