Park Place Capital Corp Trims Stock Holdings in JPMorgan Chase & Co. $JPM

Key Points

• Park Place Capital reduced its JPMorgan stake by 17.7% in the second quarter, selling 3,017 shares and retaining 14,001 shares valued at approximately $4.58 million. Institutional investors collectively own 71.55% of the company.
• JPMorgan reported strong quarterly results, with EPS of $6.14 exceeding estimates and revenue rising 27.7% year over year to $58.02 billion. The bank also increased its quarterly dividend from $1.50 to $1.65, implying a 1.9% yield.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $359.96. However, inflation, oil-price volatility and insider stock sales remain potential risks.

Park Place Capital Corp lowered its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 17.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,001 shares of the financial services provider's stock after selling 3,017 shares during the quarter. Park Place Capital Corp's holdings in JPMorgan Chase & Co. were worth $4,583,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of JPM. Arkansas Financial Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 1.1% in the 2nd quarter. Arkansas Financial Group Inc. now owns 2,667 shares of the financial services provider's stock worth $873,000 after acquiring an additional 30 shares during the last quarter. Flynn Zito Capital Management LLC increased its holdings in JPMorgan Chase & Co. by 1.1% in the 2nd quarter. Flynn Zito Capital Management LLC now owns 2,830 shares of the financial services provider's stock valued at $926,000 after purchasing an additional 30 shares during the last quarter. Wedgewood Investors Inc. PA increased its holdings in JPMorgan Chase & Co. by 1.5% in the 2nd quarter. Wedgewood Investors Inc. PA now owns 2,059 shares of the financial services provider's stock valued at $674,000 after purchasing 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 valued at $3,438,000 after purchasing 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 valued at $966,000 after purchasing an additional 31 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Transactions at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 5,467 shares of the business's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of the transaction, the general counsel directly owned 40,961 shares of the company's stock, valued at approximately $13,547,031.53. The trade was a 11.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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 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 transaction of $882,025.00. Following the sale, the insider 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 10,467 shares of company stock valued at $3,593,651. Corporate insiders own 0.41% of the company's stock.

Key JPMorgan Chase & Co. News

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

Analyst Upgrades and Downgrades

A number of research firms have commented on JPM. Citigroup upped their price target on JPMorgan Chase & Co. from $325.00 to $360.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. Jefferies Financial Group set a $350.00 price objective on JPMorgan Chase & Co. in a report on Tuesday, July 14th. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $375.00 to $390.00 and gave the stock an "overweight" rating in a research note on Friday, August 14th. Zacks Research cut JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Monday, September 14th. Finally, Keefe, Bruyette & Woods raised their target price on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the company an "outperform" rating in a report on Wednesday, July 15th. Sixteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $359.96.

JPMorgan Chase & Co. Stock Down 0.1%

Shares of NYSE JPM opened at $348.92 on Friday. The stock has a market cap of $927.49 billion, a P/E ratio of 14.95, a PEG ratio of 1.44 and a beta of 0.98. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 12-month low of $279.10 and a 12-month high of $366.50. The business's fifty day simple moving average is $353.73 and its 200-day simple moving average is $323.85.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its 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. 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 period last year, the business posted $4.96 earnings per share. JPMorgan Chase & Co.'s revenue was up 27.7% compared to the same quarter last year. As a group, equities analysts predict that JPMorgan Chase & Co. will post 24.3 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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