Calamos Wealth Management LLC Trims Position in JPMorgan Chase & Co. (NYSE:JPM)

Calamos Wealth Management LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 27,924 shares of the financial services provider’s stock after selling 836 shares during the quarter. Calamos Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $4,750,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in JPM. Equitec Proprietary Markets LLC purchased a new stake in JPMorgan Chase & Co. in the third quarter worth $1,407,000. SJS Investment Consulting Inc. grew its stake in JPMorgan Chase & Co. by 12.3% in the third quarter. SJS Investment Consulting Inc. now owns 2,491 shares of the financial services provider’s stock worth $361,000 after purchasing an additional 273 shares during the period. Perennial Advisors LLC grew its stake in JPMorgan Chase & Co. by 0.3% in the third quarter. Perennial Advisors LLC now owns 59,314 shares of the financial services provider’s stock worth $8,602,000 after purchasing an additional 198 shares during the period. GHP Investment Advisors Inc. grew its stake in JPMorgan Chase & Co. by 1.6% in the third quarter. GHP Investment Advisors Inc. now owns 89,805 shares of the financial services provider’s stock worth $13,291,000 after purchasing an additional 1,444 shares during the period. Finally, Brown Miller Wealth Management LLC grew its stake in JPMorgan Chase & Co. by 1.3% in the third quarter. Brown Miller Wealth Management LLC now owns 44,074 shares of the financial services provider’s stock worth $6,391,000 after purchasing an additional 577 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 0.1 %

Shares of NYSE:JPM opened at $193.49 on Friday. The company has a market cap of $555.72 billion, a P/E ratio of 11.68, a PEG ratio of 2.42 and a beta of 1.15. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.91. JPMorgan Chase & Co. has a 1 year low of $131.81 and a 1 year high of $200.94. The stock’s fifty day moving average price is $190.36 and its 200-day moving average price is $170.74.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be issued a $1.15 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date is Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a yield of 2.38%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.78%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on JPM shares. Oppenheimer reduced their price target on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research note on Monday, April 15th. BMO Capital Markets dropped their target price on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $190.00 in a report on Tuesday, January 9th. Jefferies Financial Group boosted their target price on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $185.00 target price on shares of JPMorgan Chase & Co. in a report on Wednesday, March 20th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $192.05.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Lori A. Beer sold 3,920 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $195.36, for a total value of $765,811.20. Following the transaction, the insider now owns 64,783 shares of the company’s stock, valued at $12,656,006.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other JPMorgan Chase & Co. news, insider Lori A. Beer sold 3,920 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $195.36, for a total value of $765,811.20. Following the transaction, the insider now owns 64,783 shares of the company’s stock, valued at $12,656,006.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Peter Scher sold 1,810 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $323,917.60. Following the completion of the transaction, the insider now directly owns 44,956 shares in the company, valued at approximately $8,045,325.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,020,696 shares of company stock valued at $186,794,151. 0.79% of the stock is owned by company insiders.

JPMorgan Chase & Co. 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 deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.