Operose Advisors LLC Acquires New Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Operose Advisors initiated a JPMorgan Chase position by purchasing 4,291 shares worth approximately $1.4 million in the second quarter. Institutional investors own 71.55% of the bank’s stock.
• JPMorgan reported stronger-than-expected quarterly results, with $6.14 EPS and $58.02 billion in revenue, up 27.7% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $363.29.
• The bank increased its quarterly dividend from $1.50 to $1.65 per share, equivalent to an annualized $6.60 dividend and a 2.0% yield.

Operose Advisors LLC bought a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,291 shares of the financial services provider's stock, valued at approximately $1,405,000.

Other large investors also recently modified their holdings of the company. Guardian Wealth Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at about $220,000. Nilsine Partners LLC raised its holdings in JPMorgan Chase & Co. by 1.5% during the 2nd quarter. Nilsine Partners LLC now owns 39,511 shares of the financial services provider's stock worth $12,933,000 after purchasing an additional 581 shares during the last quarter. Saudi Central Bank lifted its position in shares of JPMorgan Chase & Co. by 86.9% in the 2nd quarter. Saudi Central Bank now owns 187,756 shares of the financial services provider's stock worth $61,458,000 after purchasing an additional 87,274 shares during the period. Asset Allocation Strategies LLC lifted its position in shares of JPMorgan Chase & Co. by 2.0% in the 2nd quarter. Asset Allocation Strategies LLC now owns 1,593 shares of the financial services provider's stock worth $521,000 after purchasing an additional 32 shares during the period. Finally, Fortitude Advisory Group L.L.C. boosted its stake in shares of JPMorgan Chase & Co. by 3.5% in the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 8,476 shares of the financial services provider's stock valued at $2,774,000 after purchasing an additional 283 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $352.81, for a total transaction of $882,025.00. Following the transaction, the insider owned 71,047 shares of the company's stock, valued at $25,066,092.07. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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. Trading Down 0.5%

JPM opened at $334.95 on Wednesday. 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 fifty-two week low of $279.10 and a fifty-two week high of $366.50. The firm has a market capitalization of $890.37 billion, a PE ratio of 14.35, a P/E/G ratio of 1.38 and a beta of 0.98. The company's 50-day moving average is $353.53 and its 200 day moving average is $326.38.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.59 by $0.55. The business had revenue of $58.02 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 27.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.96 EPS. As a group, research analysts predict 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. Stockholders of record on Tuesday, October 6th will be issued a $1.65 dividend. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. This represents a $6.60 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Tuesday, October 6th. JPMorgan Chase & Co.'s dividend payout ratio is 25.71%.

Wall Street Analyst Weigh In

A number of brokerages have commented on JPM. Royal Bank Of Canada upped their price target on shares of JPMorgan Chase & Co. from $330.00 to $370.00 and gave the company an "outperform" rating in a research report on Wednesday, July 15th. HSBC raised 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. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $418.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. Barclays increased their price objective on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 15th. Finally, Morgan Stanley restated a "positive" rating and issued a $370.00 target price on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 15th. Sixteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $363.29.

Key Headlines Impacting JPMorgan Chase & Co.

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

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, 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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