Sone Capital Management LLC Buys 18,471 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Sone Capital Management increased its JPMorgan Chase position by 78% in the second quarter, purchasing 18,471 shares and bringing its total holdings to 42,160 shares valued at approximately $13.8 million. Institutional investors collectively own 71.55% of the company.
• Analysts maintain a generally favorable view, with 16 Buy ratings and 12 Holds for a consensus “Moderate Buy” rating and an average price target of $359.96. Recent upgrades included Deutsche Bank’s move to Buy and UBS raising its target to $400.
• JPMorgan reported strong quarterly results, with earnings of $6.14 per share and revenue of $58.02 billion, up 27.7% year over year. The bank also raised its quarterly dividend from $1.50 to $1.65 per share, while shares recently traded near $348.92.

Sone Capital Management LLC boosted its position in JPMorgan Chase & Co. (NYSE:JPM) by 78.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,160 shares of the financial services provider's stock after purchasing an additional 18,471 shares during the quarter. Sone Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $13,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Trajan Wealth LLC lifted its position in JPMorgan Chase & Co. by 12.9% in the second quarter. Trajan Wealth LLC now owns 76,924 shares of the financial services provider's stock valued at $25,179,000 after purchasing an additional 8,801 shares during the last quarter. Veratis Advisors Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter worth about $308,000. Verity Asset Management Inc. lifted its holdings in JPMorgan Chase & Co. by 7.2% in the second quarter. Verity Asset Management Inc. now owns 2,056 shares of the financial services provider's stock worth $673,000 after buying an additional 138 shares during the period. Peak Asset Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 7.0% in the 2nd quarter. Peak Asset Management LLC now owns 82,577 shares of the financial services provider's stock valued at $27,030,000 after purchasing an additional 5,406 shares during the period. Finally, Fiduciary Financial Advisors bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $2,094,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on JPM. Robert W. Baird boosted their target price on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Evercore restated an "outperform" rating and issued a $360.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, July 6th. Citigroup boosted their price target on JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft raised shares of JPMorgan Chase & Co. from a "hold" rating to a "buy" rating and set a $375.00 price objective for the company in a research report on Wednesday, July 22nd. Finally, UBS Group increased their target price on shares of JPMorgan Chase & Co. from $384.00 to $400.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $359.96.

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

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 2,500 shares of the firm's stock in a transaction dated Thursday, September 10th. The shares were 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 approximately $25,066,092.07. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.41% of the company's stock.

JPMorgan Chase & Co. Trading Down 0.2%

Shares of NYSE JPM 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. The business's 50 day moving average price is $353.73 and its 200-day moving average price is $324.03. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $366.50. The company has a market cap 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 posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.59 by $0.55. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The firm had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $50.72 billion. During the same quarter in the previous year, the firm posted $4.96 earnings per share. The company's revenue was up 27.7% on a year-over-year basis. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 24.3 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced 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. This represents a $6.60 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, October 6th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.50. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 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.

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.