Polar Asset Management Partners Inc. Invests $1.65 Million in JPMorgan Chase & Co. $JPM

Key Points

• Polar Asset Management initiated a JPMorgan Chase stake worth approximately $1.65 million by purchasing 5,043 shares in the second quarter. Institutional investors and hedge funds collectively own 71.55% of JPMorgan’s stock.
• JPMorgan reported quarterly earnings of $6.14 per share and revenue of $58.02 billion, beating analyst expectations; revenue increased 27.7% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and average price target of $359.96. JPMorgan also raised its quarterly dividend from $1.50 to $1.65 per share, equivalent to a 1.9% yield.

Polar Asset Management Partners Inc. bought a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,043 shares of the financial services provider's stock, valued at approximately $1,651,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of JPM. Bank of America Corp DE raised its position in shares of 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 worth $19,314,681,000 after buying an additional 8,941,351 shares during the period. Norges Bank acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $11,396,496,000. Bank of New York Mellon Corp raised its holdings in shares of JPMorgan Chase & Co. by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,642,804 shares of the financial services provider's stock worth $7,084,339,000 after purchasing an additional 540,362 shares during the period. Legal & General Group Plc raised its holdings in shares of JPMorgan Chase & Co. by 0.6% in the 4th quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider's stock worth $6,128,484,000 after purchasing an additional 110,586 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of JPMorgan Chase & Co. by 3.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 18,968,884 shares of the financial services provider's stock valued at $5,578,788,000 after purchasing an additional 607,288 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

More 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

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Royal Bank Of Canada lifted 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. Barclays raised their target price on shares of JPMorgan Chase & Co. from $391.00 to $420.00 and gave the company an "overweight" rating in a research note on Wednesday, July 15th. Weiss Ratings upgraded shares of JPMorgan Chase & Co. from a "buy (b)" rating to a "buy (b+)" rating in a report on Wednesday, September 2nd. Evercore reaffirmed an "outperform" rating and set a $360.00 price target on shares of JPMorgan Chase & Co. in a research report on Monday, July 6th. Finally, Keefe, Bruyette & Woods increased their price target 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $359.96.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $348.92 on Monday. 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. has a one year low of $279.10 and a one year high of $366.50. The company's 50-day simple moving average is $353.73 and its 200-day simple moving average is $324.03. The stock has a market capitalization of $927.49 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.44 and a beta of 0.98.

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 earnings per share 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 net margin of 21.86% and a return on equity of 18.23%. The company's revenue for the quarter was up 27.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.96 EPS. Equities analysts anticipate that JPMorgan Chase & Co. will post 24.3 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared 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 is Tuesday, October 6th. This represents a $6.60 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is presently 25.71%.

Insider Activity

In related news, insider Robin Leopold sold 2,500 shares of the company's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $352.81, for a total value of $882,025.00. Following the completion of the sale, the insider owned 71,047 shares of the company's stock, valued at $25,066,092.07. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.41% of the company's stock.

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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