JPMorgan Chase & Co. $JPM Stock Holdings Boosted by Saudi Central Bank

Key Points

• Saudi Central Bank increased its JPMorgan stake by 86.9% in the second quarter, bringing its holdings to 187,756 shares valued at approximately $61.5 million. Institutional investors and hedge funds collectively own 71.55% of JPMorgan stock.
• JPMorgan reported quarterly EPS of $6.14, exceeding expectations of $5.59, while revenue rose 27.7% year over year to $58.02 billion. The bank also raised its quarterly dividend to $1.65, equivalent to a 2.0% annual yield.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $363.29; recent targets range from $370 to $418.

Saudi Central Bank raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 86.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 187,756 shares of the financial services provider's stock after acquiring an additional 87,274 shares during the period. JPMorgan Chase & Co. makes up 0.8% of Saudi Central Bank's investment portfolio, making the stock its 26th biggest holding. Saudi Central Bank's holdings in JPMorgan Chase & Co. were worth $61,458,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $11,396,496,000. Bank of America Corp DE grew its position in 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 valued at $19,314,681,000 after buying an additional 8,941,351 shares during the last quarter. Ascentis Wealth Management LLC grew its position in 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 valued at $1,521,126,000 after buying an additional 4,632,891 shares during the last quarter. Jupiter Topco LLC acquired a new position in JPMorgan Chase & Co. in the 2nd quarter valued at $1,274,097,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in 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 valued at $2,042,648,000 after buying an additional 1,662,250 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

More JPMorgan Chase & Co. News

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

• Positive Sentiment: JPMorgan’s planned partnership with the Qatar Investment Authority could generate additional asset-management revenue, with JPMorgan Asset Management expected to manage approximately $15 billion of a proposed $20 billion mandate spanning public and private markets. JPMorgan QIA partnership article
• Positive Sentiment: JPMorgan ETFs attracted nearly $600 million of net inflows on September 28, a sign of continued demand for the bank’s investment products and a potential benefit to fee income. JPMorgan ETF inflows article
• Positive Sentiment: HSBC raised its JPMorgan price target to $377 from $369 while maintaining a Hold rating, suggesting analysts see valuation upside despite near-term caution. HSBC JPMorgan price target article
• Positive Sentiment: Analysts expect double-digit earnings growth in JPMorgan’s upcoming third quarter, while the bank has issued new debt and declared a preferred-stock dividend, highlighting continued access to funding and capital distributions. JPMorgan quarterly earnings preview

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of analyst reports. Morgan Stanley restated a "positive" rating and set a $370.00 price objective on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 15th. Royal Bank Of Canada boosted their price target on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. HSBC increased their price target on shares of JPMorgan Chase & Co. from $369.00 to $377.00 and gave the stock a "hold" rating in a report on Monday. UBS Group raised their price objective on shares of JPMorgan Chase & Co. from $384.00 to $400.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $418.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 14th. Sixteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and an average price target of $363.29.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. 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 completion of the sale, the insider directly owned 71,047 shares in the company, valued at approximately $25,066,092.07. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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. Stock Performance

NYSE:JPM opened at $334.95 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $366.50. The stock has a market cap of $890.37 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.38 and a beta of 0.98. The firm's fifty day simple moving average is $353.53 and its 200-day simple moving average is $326.38.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.59 by $0.55. The firm 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%. The business's revenue for the quarter was up 27.7% compared to the same quarter last year. During the same quarter last year, the business earned $4.96 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 24.29 earnings per share 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 issued a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a yield of 2.0%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio is 25.71%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, investment banking, asset management, private banking, commercial banking, consumer lending and payment services to individuals, businesses, institutions and governments.

The company operates through major business areas that include Consumer & Community Banking, Commercial & Investment Banking, and Asset & Wealth Management. Its products and services include deposit accounts, credit cards, mortgages, auto loans, business financing, investment and advisory services, securities trading and custody, payment processing, and wealth-management solutions.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across international markets.

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