Calamos Wealth Management LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 66.1% in the 1st quarter, HoldingsChannel reports. The firm owned 30,480 shares of the financial services provider’s stock after selling 59,531 shares during the quarter. Calamos Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $4,155,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in shares of JPMorgan Chase & Co. by 1.6% in the 4th quarter. State Street Corp now owns 141,720,090 shares of the financial services provider’s stock worth $22,441,376,000 after acquiring an additional 2,277,065 shares in the last quarter. Geode Capital Management LLC increased its position in JPMorgan Chase & Co. by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 47,806,506 shares of the financial services provider’s stock worth $7,548,705,000 after purchasing an additional 687,571 shares during the last quarter. Norges Bank bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth $4,092,843,000. Charles Schwab Investment Management Inc. boosted its stake in JPMorgan Chase & Co. by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,802,465 shares of the financial services provider’s stock worth $2,819,021,000 after buying an additional 273,693 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its stake in JPMorgan Chase & Co. by 1.4% during the fourth quarter. Parametric Portfolio Associates LLC now owns 11,276,722 shares of the financial services provider’s stock worth $1,785,669,000 after buying an additional 160,698 shares during the period. 70.35% of the stock is currently owned by hedge funds and other institutional investors.
JPMorgan Chase & Co. Trading Down 0.4 %
JPMorgan Chase & Co. stock opened at $114.81 on Friday. JPMorgan Chase & Co. has a 52 week low of $106.06 and a 52 week high of $172.96. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market capitalization of $337.20 billion, a P/E ratio of 9.21, a PEG ratio of 2.05 and a beta of 1.15. The stock has a 50-day simple moving average of $118.44 and a 200 day simple moving average of $131.46.
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings data on Thursday, July 14th. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.76. The business had revenue of $30.72 billion for the quarter, compared to analysts’ expectations of $31.82 billion. JPMorgan Chase & Co. had a net margin of 30.41% and a return on equity of 15.29%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $3.78 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 11.23 earnings per share for the current year.
JPMorgan Chase & Co. Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Sunday, July 31st. Shareholders of record on Wednesday, July 6th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Tuesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 32.10%.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of JPMorgan Chase & Co. from $137.00 to $126.00 and set a “hold” rating for the company in a research note on Monday, July 11th. Wells Fargo & Company lowered their price objective on JPMorgan Chase & Co. from $120.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 14th. Berenberg Bank upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating and set a $120.00 price objective on the stock in a research report on Monday, July 18th. Morgan Stanley lowered their price objective on JPMorgan Chase & Co. from $149.00 to $127.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 12th. Finally, Piper Sandler decreased their target price on JPMorgan Chase & Co. from $170.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, July 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average price target of $145.95.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.
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