BIT Capital GmbH Boosts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• BIT Capital GmbH increased its holdings in JPMorgan Chase & Co. by 50.1% during the first quarter, owning 3,965 shares worth approximately $973,000.
• JPMorgan Chase reported an EPS of $4.96 for the last quarter, surpassing analysts' expectations, although its revenue was down 10.5% compared to the same period last year.
• The company's most recent quarterly dividend was $1.40, resulting in an annualized dividend yield of 1.9% and a payout ratio of 28.73%.

BIT Capital GmbH grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 50.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,965 shares of the financial services provider's stock after purchasing an additional 1,323 shares during the period. BIT Capital GmbH's holdings in JPMorgan Chase & Co. were worth $973,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in JPM. Manchester Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. by 4.8% during the 1st quarter. Manchester Capital Management LLC now owns 17,466 shares of the financial services provider's stock worth $4,285,000 after acquiring an additional 801 shares in the last quarter. Delta Financial Group Inc. lifted its stake in JPMorgan Chase & Co. by 1.0% in the 1st quarter. Delta Financial Group Inc. now owns 22,474 shares of the financial services provider's stock valued at $5,575,000 after purchasing an additional 227 shares during the last quarter. Scotia Capital Inc. lifted its stake in JPMorgan Chase & Co. by 2.7% in the 1st quarter. Scotia Capital Inc. now owns 1,570,653 shares of the financial services provider's stock valued at $385,281,000 after purchasing an additional 41,659 shares during the last quarter. Phocas Financial Corp. bought a new position in JPMorgan Chase & Co. in the 1st quarter valued at approximately $209,000. Finally, Cheviot Value Management LLC lifted its stake in JPMorgan Chase & Co. by 7.6% in the 1st quarter. Cheviot Value Management LLC now owns 8,383 shares of the financial services provider's stock valued at $2,117,000 after purchasing an additional 593 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a research note on Friday, June 27th. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, July 7th. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 price target for the company. Finally, Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, the chief operating officer directly owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the transaction, the general counsel owned 36,520 shares of the company's stock, valued at $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,557 shares of company stock valued at $4,113,796 over the last quarter. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Up 0.6%

NYSE:JPM traded up $1.61 during trading hours on Friday, reaching $288.55. The company had a trading volume of 6,633,369 shares, compared to its average volume of 8,541,502. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a market cap of $793.44 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 1.93 and a beta of 1.11. The business's 50-day simple moving average is $283.74 and its two-hundred day simple moving average is $262.70. JPMorgan Chase & Co. has a twelve month low of $200.61 and a twelve month high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business's revenue was down 10.5% on a year-over-year basis. During the same period last year, the company earned $6.12 earnings per share. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

JPMorgan Chase & Co. Company 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.