GAMMA Investing LLC Increases Stake in JPMorgan Chase & Co. $JPM

GAMMA Investing LLC boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 114,132 shares of the financial services provider’s stock after acquiring an additional 7,067 shares during the period. JPMorgan Chase & Co. accounts for 1.4% of GAMMA Investing LLC’s portfolio, making the stock its 10th largest position. GAMMA Investing LLC’s holdings in JPMorgan Chase & Co. were worth $37,359,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Morgan Stanley grew its stake in shares of JPMorgan Chase & Co. by 1.4% during the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock worth $21,390,662,000 after purchasing an additional 939,421 shares during the period. Bank of America Corp DE increased its holdings in JPMorgan Chase & Co. by 15.8% in the first quarter. Bank of America Corp DE now owns 65,660,460 shares of the financial services provider’s stock valued at $19,314,681,000 after purchasing an additional 8,941,351 shares during the last quarter. Norges Bank acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $11,396,496,000. Bank of New York Mellon Corp lifted its stake in JPMorgan Chase & Co. by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock valued at $7,547,837,000 after buying an additional 1,194,583 shares during the period. Finally, Legal & General Group Plc boosted its holdings in JPMorgan Chase & Co. by 0.6% during the fourth quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock worth $6,128,484,000 after buying an additional 110,586 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on JPM shares. DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Zacks Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Citigroup lifted their price objective on shares of JPMorgan Chase & Co. from $325.00 to $360.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. The Goldman Sachs Group restated a “buy” rating and set a $418.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 14th. Finally, Jefferies Financial Group set a $350.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $359.33.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,468 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the transaction, the general counsel owned 46,428 shares of the company’s stock, valued at approximately $13,940,935.56. The trade was a 10.54% decrease in their ownership of the stock. The sale was disclosed in a filing 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. News Summary

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

• Positive Sentiment: Large housing initiative could expand lending opportunities: JPMorgan plans to deploy more than $750 billion through 2035 through its American Dream Initiative. The program targets financing for 1 million affordable housing units, helping 500,000 people purchase homes, hiring 850 home-lending advisers and increasing mortgage lending by more than 40%. The initiative could support long-term loan growth, although its eventual profitability remains a key question. JPMorganChase Doubles Down on Housing
• Positive Sentiment: Broad financial-sector momentum provides a tailwind: The NYSE Financial Index advanced during Tuesday trading, indicating continued investor interest in banks and other financial companies as markets rotate toward established, value-oriented businesses. Sector Update: Financial Stocks Rise Late Afternoon
• Positive Sentiment: Potential infrastructure-finance transaction: JPMorgan is reportedly nearing a deal to acquire Idex, a French cooling-network provider owned by Antin Infrastructure Partners. The transaction could expand the bank’s investment-banking or infrastructure-finance footprint, though terms and strategic benefits have not been disclosed. JPMorgan Said to Near Deal For Antin’s French Cooling Network Provider
• Neutral Sentiment: Mixed interest-rate signals: JPMorgan economists reportedly moved up their forecast for a potential Federal Reserve rate increase before year-end, citing inflation and concerns about Fed credibility. Higher rates can support banks’ interest income, but they may also weaken loan demand and raise credit-risk concerns. JPMorgan says Warsh failure to buttress Fed credibility may force a rate hike
• Negative Sentiment: Valuation and macro concerns could limit upside: Analysts note that JPM’s strong recent share performance may already reflect much of the housing and earnings optimism. CEO Jamie Dimon has also warned that U.S. stocks and long-duration Treasuries appear expensive, a cautionary message for market valuations and investor sentiment. Jamie Dimon Just Said He Wouldn’t Buy the S&P 500 or Long-Dated Treasuries

JPMorgan Chase & Co. Stock Up 1.4%

Shares of JPMorgan Chase & Co. stock opened at $357.75 on Wednesday. JPMorgan Chase & Co. has a 1 year low of $279.10 and a 1 year high of $363.00. The business has a 50-day moving average of $330.75 and a two-hundred day moving average of $312.43. The company has a market capitalization of $958.58 billion, a P/E ratio of 15.33, a price-to-earnings-growth ratio of 1.45 and a beta of 0.99. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data 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 return on equity of 18.23% and a net margin of 21.86%.The business had revenue of $58.02 billion for the quarter, compared to analysts’ expectations of $50.72 billion. During the same quarter in the previous year, the business posted $4.96 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 27.7% on a year-over-year basis. As a group, equities analysts predict that JPMorgan Chase & Co. will post 24.27 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 6th were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.71%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.