JPMorgan Chase & Co. $JPM is Peak Asset Management LLC's 7th Largest Position

Key Points

• Peak Asset Management increased its JPMorgan stake by 7% in the second quarter, holding 82,577 shares valued at approximately $27.0 million. JPMorgan now represents 4% of the firm’s portfolio and is its seventh-largest position.
• JPMorgan reported strong quarterly results, with EPS of $6.14 beating estimates of $5.59 and revenue of $58.02 billion rising 27.7% year over year. The bank also raised its quarterly dividend from $1.50 to $1.65 per share.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $359.96. Growth catalysts include stronger investment-banking and trading revenue, though inflation and elevated oil prices remain risks.

Peak Asset Management LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 7.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 82,577 shares of the financial services provider's stock after buying an additional 5,406 shares during the period. JPMorgan Chase & Co. comprises 4.0% of Peak Asset Management LLC's portfolio, making the stock its 7th largest holding. Peak Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $27,030,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $11,396,496,000. Bank of America Corp DE increased its holdings 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 worth $19,314,681,000 after purchasing an additional 8,941,351 shares in the last quarter. Ascentis Wealth Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 32,672.0% in the 2nd quarter. Ascentis Wealth Management LLC now owns 4,647,071 shares of the financial services provider's stock worth $1,521,126,000 after purchasing an additional 4,632,891 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of JPMorgan Chase & Co. by 31.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,944,004 shares of the financial services provider's stock worth $2,042,648,000 after purchasing an additional 1,662,250 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the first quarter worth $371,195,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. News Roundup

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

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group reaffirmed a "buy" rating and set a $418.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 14th. 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 target price 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. Deutsche Bank Aktiengesellschaft raised shares of JPMorgan Chase & Co. from a "hold" rating to a "buy" rating and set a $375.00 price target on the stock in a report on Wednesday, July 22nd. Finally, Barclays lifted their price target on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Sixteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $359.96.

Insider Activity

In related news, 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 transaction, the general counsel owned 40,961 shares of the company's stock, valued at approximately $13,547,031.53. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of the business'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 sale, the insider owned 71,047 shares of the company's stock, valued at $25,066,092.07. This trade represents a 3.40% 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. Insiders have sold a total of 10,467 shares of company stock valued at $3,593,651 in the last ninety days. Insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $348.92 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.85. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $366.50. The company has a market cap of $927.49 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98. The stock's fifty day moving average price is $353.73 and its 200-day moving average price is $323.85.

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 return on equity of 18.23% and a net margin of 21.86%.The company had revenue of $58.02 billion during the quarter, compared to analysts' expectations of $50.72 billion. During the same quarter in the prior year, the business earned $4.96 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was up 27.7% compared to the same quarter last year. On average, equities analysts forecast that JPMorgan Chase & Co. will post 24.3 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

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