Maxele Advisors LLC Invests $1.53 Million in JPMorgan Chase & Co. $JPM

Key Points

• Maxele Advisors acquired a new $1.53 million stake in JPMorgan Chase during the second quarter, purchasing 4,683 shares. JPMorgan now represents 1.1% of the fund’s portfolio, while institutional investors collectively own 71.55% of the stock.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $359.96. Recent target increases included Keefe, Bruyette & Woods at $384 and Royal Bank of Canada at $370.
• JPMorgan reported quarterly EPS of $6.14, exceeding estimates, while revenue rose 27.7% year over year to $58.02 billion. The bank also increased its quarterly dividend to $1.65 per share, equivalent to a 1.9% annual yield.

Maxele Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,683 shares of the financial services provider's stock, valued at approximately $1,533,000. JPMorgan Chase & Co. makes up 1.1% of Maxele Advisors LLC's portfolio, making the stock its 15th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in JPM. Kahn Brothers Group Inc. boosted its position in JPMorgan Chase & Co. by 2.1% during the 2nd quarter. Kahn Brothers Group Inc. now owns 2,878 shares of the financial services provider's stock worth $942,000 after purchasing an additional 60 shares during the period. Empowered Funds LLC raised its position in JPMorgan Chase & Co. by 2.4% in the second quarter. Empowered Funds LLC now owns 475,472 shares of the financial services provider's stock valued at $155,636,000 after purchasing an additional 11,078 shares during the period. United Capital Financial Advisors LLC raised its position in JPMorgan Chase & Co. by 0.8% in the second quarter. United Capital Financial Advisors LLC now owns 373,822 shares of the financial services provider's stock valued at $122,363,000 after purchasing an additional 3,062 shares during the period. Balanced Rock Investment Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 13.6% during the second quarter. Balanced Rock Investment Advisors LLC now owns 1,259 shares of the financial services provider's stock worth $412,000 after purchasing an additional 151 shares in the last quarter. Finally, Yukon Wealth Management Inc. acquired a new position in shares of JPMorgan Chase & Co. during the second quarter worth about $2,959,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Truist Financial increased their target price on JPMorgan Chase & Co. from $344.00 to $352.00 and gave the company a "hold" rating in a research note on Wednesday, July 15th. Zacks Research lowered JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 14th. Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 15th. Royal Bank Of Canada upped their price target on JPMorgan Chase & Co. from $330.00 to $370.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. Finally, Evercore reaffirmed an "outperform" rating and issued a $360.00 price objective on shares of JPMorgan Chase & Co. in a research report on Monday, July 6th. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $359.96.

More JPMorgan Chase & Co. News

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. Stock Down 3.3%

Shares of JPMorgan Chase & Co. stock opened at $340.27 on Wednesday. JPMorgan Chase & Co. has a 1-year low of $279.10 and a 1-year high of $366.50. The company 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. The business has a 50-day moving average of $354.02 and a 200-day moving average of $324.69.

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 the consensus estimate of $5.59 by $0.55. The business had revenue of $58.02 billion for the quarter, compared to analysts' expectations of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The company's revenue was up 27.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.96 earnings per share. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 24.3 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Tuesday, October 6th will be issued a dividend of $1.65 per share. The ex-dividend date is Tuesday, October 6th. This represents a $6.60 annualized dividend and a yield of 1.9%. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 25.71%.

Insider Activity

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the company's stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $352.81, for a total value of $882,025.00. Following the transaction, the insider directly owned 71,047 shares of the company's stock, valued at $25,066,092.07. This represents a 3.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 insiders.

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, 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.