Gambit Capital Management LLC Takes Position in JPMorgan Chase & Co. $JPM

Gambit Capital Management LLC acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,782 shares of the financial services provider’s stock, valued at approximately $1,219,000. JPMorgan Chase & Co. comprises 0.9% of Gambit Capital Management LLC’s portfolio, making the stock its 24th biggest position.

A number of other hedge funds have also made changes to their positions in JPM. Danske Bank A S acquired a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $696,885,000. American Assets Investment Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1,172.2% in the fourth quarter. American Assets Investment Management LLC now owns 2,259,400 shares of the financial services provider’s stock valued at $728,024,000 after acquiring an additional 2,081,800 shares during the period. Holocene Advisors LP boosted its holdings in shares of JPMorgan Chase & Co. by 1,033.3% in the third quarter. Holocene Advisors LP now owns 2,155,120 shares of the financial services provider’s stock valued at $679,790,000 after acquiring an additional 1,964,958 shares during the period. Viking Global Investors LP boosted its holdings in shares of JPMorgan Chase & Co. by 86.1% in the second quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider’s stock valued at $1,171,826,000 after acquiring an additional 1,870,386 shares during the period. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $474,516,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

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

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $299.04 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. 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 12-month low of $260.31 and a 12-month high of $337.25. The stock has a market capitalization of $801.27 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 1.50 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The company had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. During the same quarter in the previous year, the firm posted $5.07 EPS. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. Research analysts expect that JPMorgan Chase & Co. will post 22.4 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a dividend of $1.50 per share. The ex-dividend date is Monday, July 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is presently 28.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on JPM shares. HSBC increased their price objective on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a report on Monday, May 4th. Argus increased their price objective on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Zacks Research downgraded JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Robert W. Baird set a $295.00 price objective on JPMorgan Chase & Co. in a report on Wednesday, April 15th. Finally, Evercore increased their price objective on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Fifteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $339.08.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 5,468 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the sale, the general counsel owned 46,428 shares of the company’s stock, valued at $13,940,935.56. The trade was a 10.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 5,611 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $306.55, for a total value of $1,720,052.05. Following the sale, the chief financial officer directly owned 35,460 shares in the company, valued at $10,870,263. This trade represents a 13.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 28,589 shares of company stock worth $8,747,496. Company insiders own 0.41% of the company’s stock.

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.