JPMorgan Chase & Co. $JPM Stock Holdings Boosted by Davis Asset Management L.P.

Key Points

• Davis Asset Management increased its JPMorgan stake by 5.4% in the second quarter to 493,896 shares valued at approximately $161.7 million. Institutional investors collectively own 71.55% of the company.
• JPMorgan reported strong quarterly results, with earnings per share of $6.14 and revenue of $58.02 billion, beating analyst expectations and representing 27.7% year-over-year revenue growth.
• The bank raised its quarterly dividend from $1.50 to $1.65 per share, while analysts maintain a “Moderate Buy” consensus with an average price target of $359.96. Inflation, oil prices and potential credit risks remain key concerns.

Davis Asset Management L.P. lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 493,896 shares of the financial services provider's stock after acquiring an additional 25,110 shares during the quarter. JPMorgan Chase & Co. accounts for about 4.1% of Davis Asset Management L.P.'s holdings, making the stock its 9th largest position. Davis Asset Management L.P.'s holdings in JPMorgan Chase & Co. were worth $161,667,000 at the end of the most recent quarter.

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

JPMorgan Chase & Co. Stock Down 0.1%

Shares of JPM 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 stock has a 50 day simple moving average of $353.73 and a two-hundred day simple moving average of $323.85. The firm 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.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share 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 firm had revenue of $58.02 billion during the quarter, compared to analyst estimates of $50.72 billion. During the same quarter in the prior year, the firm posted $4.96 earnings per share. The business's quarterly revenue was up 27.7% compared to the same quarter last year. On average, analysts forecast that JPMorgan Chase & Co. will post 24.3 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared 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 is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. This represents a $6.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Tuesday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio is presently 25.71%.

Insiders Place Their Bets

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 transaction of $1,808,100.91. Following the completion of the sale, the general counsel owned 40,961 shares of the company's stock, valued at $13,547,031.53. This trade represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of the firm's stock in a transaction dated 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 directly owned 71,047 shares in the company, valued at approximately $25,066,092.07. The trade was a 3.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 10,467 shares of company stock worth $3,593,651. Company insiders own 0.41% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on JPM. Bank of America increased their target price on shares of JPMorgan Chase & Co. from $408.00 to $420.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Truist Financial lifted their price target on shares of JPMorgan Chase & Co. from $344.00 to $352.00 and gave the stock a "hold" rating in a report on Wednesday, July 15th. Royal Bank Of Canada upped their price objective on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an "outperform" rating in a report on Wednesday, July 15th. Finally, Zacks Research downgraded JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 14th. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $359.96.

Key Headlines Impacting JPMorgan Chase & Co.

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

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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