Los Angeles Capital Management LLC Purchases 43,196 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Los Angeles Capital Management LLC increased its stake in JPMorgan Chase & Co. by 7.5% during the 1st quarter, bringing its holdings to 616,583 shares valued at approximately $151.25 million.
• JPMorgan reported $4.96 earnings per share for its last quarter, exceeding analyst expectations of $4.48, with a revenue of $44.91 billion.
• The company also declared a quarterly dividend of $1.40 per share, representing an annualized payout of $5.60 and a dividend yield of 1.88%.

Los Angeles Capital Management LLC grew its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 616,583 shares of the financial services provider's stock after purchasing an additional 43,196 shares during the period. Los Angeles Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $151,248,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in JPM. Wealth Alliance LLC increased its holdings in shares of JPMorgan Chase & Co. by 2.8% during the 1st quarter. Wealth Alliance LLC now owns 16,841 shares of the financial services provider's stock worth $4,131,000 after buying an additional 461 shares during the last quarter. Sargent Investment Group LLC increased its position in shares of JPMorgan Chase & Co. by 9.6% in the 1st quarter. Sargent Investment Group LLC now owns 34,309 shares of the financial services provider's stock valued at $8,416,000 after purchasing an additional 2,999 shares during the last quarter. Blue Bell Private Wealth Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 7.2% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 2,781 shares of the financial services provider's stock valued at $682,000 after acquiring an additional 187 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of JPMorgan Chase & Co. by 0.6% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 460,170 shares of the financial services provider's stock worth $112,879,000 after buying an additional 2,867 shares during the last quarter. Finally, J.W. Cole Advisors Inc. increased its position in shares of JPMorgan Chase & Co. by 62.7% during the first quarter. J.W. Cole Advisors Inc. now owns 93,952 shares of the financial services provider's stock worth $23,046,000 after purchasing an additional 36,212 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the sale, the chief operating officer directly owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the sale, the director owned 91,539 shares of the company's stock, valued at $22,884,750. The trade was a 9.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock worth $18,060,015 in the last quarter. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

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

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

JPMorgan Chase & Co. Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on JPM. Wells Fargo & Company lifted their price objective on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. KGI Securities initiated coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a "hold" rating for the company. Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, June 30th. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Finally, Morgan Stanley upped their target price on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and an average 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.