Gallacher Capital Management LLC Purchases New Stake in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Gallacher Capital Management LLC has acquired a new stake in JPMorgan Chase & Co., purchasing 849 shares valued at approximately $208,000.
• JPMorgan Chase & Co. reported earnings of $4.96 per share for the last quarter, exceeding analysts' expectations of $4.48 by $0.48, although revenue decreased by 10.5% from the previous year.
• The company announced a quarterly dividend of $1.40 per share, which will be paid on July 31st, representing an annualized yield of 1.88%.

Gallacher Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 849 shares of the financial services provider's stock, valued at approximately $208,000.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $8,310,884,000. GAMMA Investing LLC raised its stake in JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after buying an additional 23,465,278 shares during the period. Northern Trust Corp raised its stake in JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after buying an additional 4,515,147 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of JPMorgan Chase & Co. by 31.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock valued at $2,561,256,000 after buying an additional 2,551,899 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of JPMorgan Chase & Co. by 16.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock worth $4,207,028,000 after acquiring an additional 2,465,572 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM traded up $2.59 on Wednesday, hitting $299.63. 8,046,594 shares of the company were exchanged, compared to its average volume of 8,322,348. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $301.29. The stock's 50 day moving average price is $279.75 and its 200 day moving average price is $260.92. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $832.70 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter last year, the company posted $6.12 earnings per share. The firm's revenue was down 10.5% compared to the same quarter last year. Sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,129 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total value of $1,536,908.04. Following the transaction, the chief operating officer owned 68,583 shares of the company's stock, valued at $17,197,873.08. This represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jeremy Barnum sold 40,014 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the sale, the chief financial officer owned 18,017 shares in the company, valued at $4,518,123.09. This trade represents a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on JPM shares. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a "hold" rating for the company. Bank of America boosted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Phillip Securities cut shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Finally, Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a research note on Monday, July 7th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $288.68.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.