JPMorgan Chase & Co. $JPM Shares Acquired by Empowered Funds LLC

Key Points

• Empowered Funds increased its JPMorgan Chase stake by 2.4% in the second quarter, adding 11,078 shares to reach 475,472 shares valued at approximately $155.6 million. Institutional investors and hedge funds collectively own 71.55% of the company.
• JPMorgan reported strong quarterly results, with EPS of $6.14 and revenue of $58.02 billion, beating analyst estimates and representing 27.7% year-over-year revenue growth. The bank also raised its quarterly dividend from $1.50 to $1.65 per share.
• Shares were trading down 3.3% at $340.27, despite a consensus analyst rating of “Moderate Buy” and an average price target of $359.96. Investors face concerns including rising credit-card delinquencies, AI-driven disruption fears and the potential for inflation to keep interest rates higher.

Empowered Funds LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 475,472 shares of the financial services provider's stock after acquiring an additional 11,078 shares during the period. JPMorgan Chase & Co. accounts for about 0.8% of Empowered Funds LLC's holdings, making the stock its 15th biggest position. Empowered Funds LLC's holdings in JPMorgan Chase & Co. were worth $155,636,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. MBM Wealth Consultants LLC acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $29,000. Aventus Investment Advisors Inc. acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at about $33,000. Osbon Capital Management LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at approximately $35,000. Turim 21 Investimentos Ltda. purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at approximately $62,000. Finally, Phillip James Consulting Co. acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $64,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about JPMorgan Chase & Co.

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

• Positive Sentiment: New $20 billion QIA partnership supports long-term fee growth. J.P. Morgan Asset Management will oversee a $15 billion public-equities mandate and collaborate on $5 billion of private-markets investments for Qatar Investment Authority. The arrangement could expand JPMorgan’s asset-management scale and recurring fee revenue. QIA and J.P. Morgan Asset Management Announce $20 Billion Strategic Partnership
• Positive Sentiment: Payments and investment-banking commentary remains constructive. JPMorgan is expanding cross-border payments through a Thunes partnership, while executives said dealmaking is on track for a strong year. These developments could benefit payments revenue and investment-banking fees. Thunes Powers J.P. Morgan Payments’ Xpedite Remit Solution
• Neutral Sentiment: JPMorgan CEO Jamie Dimon expects AI infrastructure spending to reach $1 trillion next year. The forecast highlights potential financing and advisory opportunities, but Dimon also warned that the investment boom could add to inflation, potentially keeping interest rates higher for longer. Jamie Dimon Expects AI Hyperscalers to Spend $1 Trillion Next Year
• Negative Sentiment: Bank stocks sold off as investors questioned whether AI could disrupt traditional financial services. The market’s preference for technology and AI-related shares pressured JPMorgan and other large banks despite JPMorgan’s strong recent earnings and new QIA mandate. Bank Stocks Tumble as New AI Fears Surface
• Negative Sentiment: Credit-card delinquencies and charge-offs rose sequentially in August. Although losses remained below year-ago levels, the increase raised concerns about gradual consumer deterioration and potential future credit costs for card issuers, including JPMorgan. U.S. Card Issuers’ Delinquencies and Net Charge-Offs Rise

JPMorgan Chase & Co. Trading Down 3.3%

Shares of JPM stock opened at $340.27 on Wednesday. The business's fifty day moving average price is $354.02 and its 200 day moving average price is $324.69. The firm has a market capitalization of $904.52 billion, a PE ratio of 14.58, a P/E/G ratio of 1.45 and a beta of 0.98. 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.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results 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 the consensus estimate of $50.72 billion. During the same quarter last year, the company earned $4.96 earnings per share. JPMorgan Chase & Co.'s quarterly revenue was up 27.7% compared to the same quarter last year. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 24.3 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business 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 is Tuesday, October 6th. This is an increase 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 currently 25.71%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Barclays boosted their target price on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the company an "overweight" rating in a report on Wednesday, July 15th. Morgan Stanley reaffirmed a "positive" rating and set a $370.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, July 15th. Keefe, Bruyette & Woods lifted their price objective on shares of JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an "outperform" rating in a research report on Wednesday, July 15th. Truist Financial upped their price objective on shares of JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a "hold" rating in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $375.00 to $390.00 and gave the stock an "overweight" rating in a research note on Friday, August 14th. Sixteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $359.96.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $352.81, for a total value of $882,025.00. Following the completion of the transaction, the insider directly owned 71,047 shares of the company's stock, valued at approximately $25,066,092.07. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing 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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

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.