Gambit Capital Management LLC Acquires Shares of 3,782 JPMorgan Chase & Co. $JPM

Key Points

• Gambit Capital Management opened a new position in JPMorgan Chase, buying 3,782 shares worth about $1.22 million, which now makes JPM its 24th-largest holding and about 0.9% of the portfolio.
• Insider selling continued, with CFO Jeremy Barnum and COO Jennifer Piepszak both selling shares in early May under pre-arranged Rule 10b5-1 plans; insiders sold 28,589 shares total over the last 90 days.
• JPMorgan recently beat quarterly earnings expectations with EPS of $5.94 on revenue of $50.54 billion, and it announced a quarterly dividend of $1.50 per share payable July 31, implying a 2.0% annualized yield.

Gambit Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,782 shares of the financial services provider's stock, valued at approximately $1,219,000. JPMorgan Chase & Co. accounts for 0.9% of Gambit Capital Management LLC's portfolio, making the stock its 24th largest holding.

Several other institutional investors have also recently made changes to their positions in JPM. Turning Point Benefit Group Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at approximately $35,000. Merrithew & Thorsten Inc acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $40,000. WHI TRUST Co LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $45,000. Cresta Advisors Ltd. acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $48,000. Finally, Miller Global Investments LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $52,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 3,022 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the sale, the chief financial officer owned 32,438 shares of the company's stock, valued at $10,036,641.58. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of the sale, the chief operating officer directly owned 85,082 shares in the company, valued at $26,326,072.44. This represents a 5.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,589 shares of company stock worth $8,747,496 over the last 90 days. 0.41% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on JPM. Royal Bank Of Canada reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. UBS Group lowered their target price on shares of JPMorgan Chase & Co. from $380.00 to $375.00 in a research note on Wednesday, May 6th. Dbs Bank raised shares of JPMorgan Chase & Co. to a "hold" rating in a research note on Tuesday, May 12th. DZ Bank reaffirmed a "neutral" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Finally, Daiwa Securities Group reduced their price target on JPMorgan Chase & Co. from $340.00 to $328.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $339.08.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $299.04 on Thursday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $801.27 billion, a P/E ratio of 14.32, a P/E/G ratio of 1.50 and a beta of 1.03. The business's 50-day moving average is $302.05 and its two-hundred day moving average is $306.96. JPMorgan Chase & Co. has a 1 year low of $260.31 and a 1 year high of $337.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.50 by $0.44. The company had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.JPMorgan Chase & Co.'s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $5.07 EPS. Analysts anticipate that JPMorgan Chase & Co. will post 22.4 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.74%.

Key JPMorgan Chase & Co. News

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

• Negative Sentiment: JPMorgan may spend heavily on acquisitions, which could reduce capital flexibility and pressure returns if deals are expensive or hard to integrate. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: 'We are on the lookout'
• Negative Sentiment: Dimon said earnings may not stay at current levels and that costs are likely to rise, which raises concerns about margin pressure. JPMorgan Chase Stock Is Falling: What's Happening Today?
• Neutral Sentiment: The bank also announced it will redeem $2.0 billion of Series KK preferred stock, a routine capital-management move that is not likely to change the investment thesis on its own. JPMorgan Chase to Redeem Series KK Preferred Stock
• Positive Sentiment: Dimon’s willingness to consider large acquisitions also reflects confidence in JPMorgan’s excess capital and long-term growth options, which could support the stock over time if management finds attractive targets. Jamie Dimon says JPMorgan could spend up to $20bn on a new acquisition

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.

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