Calamos Advisors LLC Decreases Position in JPMorgan Chase & Co. (NYSE:JPM)

Calamos Advisors LLC cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 751,786 shares of the financial services provider’s stock after selling 15,108 shares during the period. JPMorgan Chase & Co. makes up about 0.8% of Calamos Advisors LLC’s investment portfolio, making the stock its 15th largest holding. Calamos Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $184,413,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Redwood Park Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $29,000. Curat Global LLC purchased a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $33,000. Sellwood Investment Partners LLC purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $34,000. Investment Counsel Co. of Nevada purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $37,000. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $43,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on JPM. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a report on Monday. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research report on Tuesday. HSBC restated a “reduce” rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a “buy” rating and a $305.00 target price for the company. Finally, Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $280.45.

JPMorgan Chase & Co. Stock Performance

JPM opened at $282.94 on Thursday. The firm has a market cap of $786.32 billion, a P/E ratio of 13.89, a PEG ratio of 2.62 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $296.40. The company has a 50 day simple moving average of $269.48 and a two-hundred day simple moving average of $255.64. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same quarter in the prior year, the business earned $4.44 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 8.0% on a year-over-year basis. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.98%. JPMorgan Chase & Co.’s dividend payout ratio is 27.49%.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the transaction, the director owned 91,539 shares in the company, valued at approximately $22,884,750. This represents a 9.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jennifer Piepszak sold 6,129 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the transaction, the chief operating officer owned 68,583 shares of the company’s stock, valued at approximately $17,197,873.08. This represents a 8.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock worth $18,060,015 in the last three months. Insiders own 0.47% of the company’s stock.

About JPMorgan Chase & Co.

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.