Jupiter Topco LLC Buys New Stake in JPMorgan Chase & Co. $JPM

Key Points

• Jupiter Topco LLC acquired 3.89 million JPMorgan shares worth approximately $1.27 billion, giving it a roughly 0.15% stake in the bank.
• JPMorgan reported strong quarterly results, with EPS of $6.14 and revenue of $58.02 billion, exceeding analyst expectations. Institutional investors collectively own 71.55% of the company.
• The bank raised its quarterly dividend from $1.50 to $1.65 per share, while analysts maintain a “Moderate Buy” consensus and a $359.96 average price target; inflation and oil-price volatility remain key risks.

Jupiter Topco LLC purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the second quarter, according to its most recent filing with the SEC. The fund purchased 3,892,479 shares of the financial services provider's stock, valued at approximately $1,274,097,000. Jupiter Topco LLC owned about 0.15% of JPMorgan Chase & Co. as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of JPM. Arkansas Financial Group Inc. increased its holdings in shares of JPMorgan Chase & Co. by 1.1% in the second 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 last quarter. Flynn Zito Capital Management LLC boosted its stake 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 valued at $926,000 after buying an additional 30 shares during the last quarter. Wedgewood Investors Inc. PA boosted its stake 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 valued at $674,000 after buying an additional 30 shares during the last quarter. WealthBridge Capital Management LLC grew its holdings in JPMorgan Chase & Co. by 0.3% during the 2nd quarter. WealthBridge Capital Management LLC now owns 10,503 shares of the financial services provider's stock valued at $3,438,000 after buying an additional 31 shares in the last quarter. Finally, LightSquare Wealth Management LLC grew its holdings in JPMorgan Chase & Co. by 1.1% during the 2nd quarter. LightSquare Wealth Management LLC now owns 2,952 shares of the financial services provider's stock valued at $966,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Trending Headlines about 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

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $348.92 on Monday. The business's 50 day moving average price is $353.73 and its 200-day moving average price is $324.03. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $366.50. The company 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 debt-to-equity ratio of 1.30, a quick ratio of 0.85 and a current ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, topping analysts' consensus estimates 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 firm's revenue for the quarter was up 27.7% compared to the same quarter last year. During the same period in the previous year, the company earned $4.96 EPS. Sell-side analysts predict that JPMorgan Chase & Co. will post 24.3 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company 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. 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. This represents a $6.60 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is presently 25.71%.

Insiders Place Their Bets

In related news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $352.81, for a total value of $882,025.00. Following the completion of the sale, the insider directly owned 71,047 shares in the company, valued at $25,066,092.07. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on JPM. Barclays upped their price objective on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Weiss Ratings raised shares of JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a report on Wednesday, September 2nd. Morgan Stanley restated a "positive" rating and issued a $370.00 price target on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 15th. Robert W. Baird upped their price target on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Finally, Zacks Research lowered shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 14th. Sixteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $359.96.

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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