Proficio Capital Partners LLC Grows Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Proficio Capital Partners increased its JPMorgan Chase position by 562.4% in the second quarter, holding 28,707 shares valued at approximately $9.4 million. Institutional investors collectively own 71.55% of the stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $359.96. Recent targets range from $305 to $420.
• JPMorgan reported stronger-than-expected quarterly results, including $6.14 in EPS and $58.02 billion in revenue, while raising its quarterly dividend to $1.65 per share from $1.50.

Proficio Capital Partners LLC raised its position in JPMorgan Chase & Co. (NYSE:JPM) by 562.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,707 shares of the financial services provider's stock after acquiring an additional 24,373 shares during the quarter. Proficio Capital Partners LLC's holdings in JPMorgan Chase & Co. were worth $9,397,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Pure Financial Advisors LLC lifted its position in shares of JPMorgan Chase & Co. by 1.3% during the 2nd quarter. Pure Financial Advisors LLC now owns 48,966 shares of the financial services provider's stock worth $16,028,000 after purchasing an additional 628 shares during the last quarter. Payne Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. by 20.6% during the 2nd quarter. Payne Capital Management LLC now owns 3,320 shares of the financial services provider's stock worth $1,087,000 after acquiring an additional 567 shares in the last quarter. Transamerica Financial Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 9.1% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 8,488 shares of the financial services provider's stock valued at $2,778,000 after acquiring an additional 711 shares during the last quarter. Sanchez Levi Garrett raised its position in shares of JPMorgan Chase & Co. by 5.3% during the 2nd quarter. Sanchez Levi Garrett now owns 1,873 shares of the financial services provider's stock worth $613,000 after acquiring an additional 94 shares in the last quarter. Finally, Corient Private Wealth LP lifted its stake in JPMorgan Chase & Co. by 18.2% during the second quarter. Corient Private Wealth LP now owns 3,729,565 shares of the financial services provider's stock worth $1,220,799,000 after purchasing an additional 573,004 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Zacks Research lowered shares of JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 14th. Barclays raised their price target on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 15th. Robert W. Baird lifted their price target on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. UBS Group boosted their price objective on JPMorgan Chase & Co. from $384.00 to $400.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Finally, Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $375.00 to $390.00 and gave the company an "overweight" rating in a report on Friday, August 14th. Sixteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and an average price target of $359.96.

JPMorgan Chase & Co. Trading Up 0.7%

NYSE JPM opened at $352.27 on Tuesday. The stock has a market capitalization of $936.40 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.44 and a beta of 0.98. JPMorgan Chase & Co. has a 52-week low of $279.10 and a 52-week high of $366.50. The firm has a 50-day moving average price of $354.07 and a 200 day moving average price of $324.40. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.30.

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. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The company had revenue of $58.02 billion for the quarter, compared to analyst estimates of $50.72 billion. During the same quarter in the previous year, the company earned $4.96 EPS. The firm's revenue for the quarter was up 27.7% compared to the same quarter last year. Equities research analysts expect that JPMorgan Chase & Co. will post 24.3 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

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

JPMorgan Chase & Co. News Summary

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: The QIA partnership provides a significant new mandate for JPMorgan Asset Management and reinforces the bank’s global institutional-investment relationships. QIA and J.P. Morgan Asset Management Announce $20 Billion Strategic Partnership
• Positive Sentiment: JPMorgan investment-banking executives said dealmaking remains strong and is tracking toward a potentially record year, supporting expectations for higher advisory and underwriting revenue. JPMorgan Sees Dealmaking On Track for Record Year
• Positive Sentiment: CEO Jamie Dimon characterized artificial intelligence as a substantial investment opportunity comparable to the internet, potentially supporting JPMorgan’s long-term productivity and technology strategy, although near-term monetization remains uncertain. Jamie Dimon on AI and investment prospects
• Neutral Sentiment: Analysts continue to view selective acquisitions in payments, data and technology as a possible growth lever, while JPMorgan remains focused on organic expansion. The strategy could improve capabilities but may not materially affect earnings immediately. JPMorgan’s Selective M&A Strategy
• Negative Sentiment: Broader bank stocks faced pressure after the Federal Reserve raised interest rates, as investors reassessed the outlook for the rally and the potential effects of tighter financial conditions on economic growth and loan demand. Fed Rate Hike Fails to Lift Bank Stocks

Insiders Place Their Bets

In related news, insider Robin Leopold sold 2,500 shares of the company's stock in a transaction 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. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 owned by corporate insiders.

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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