JPMorgan Chase & Co. $JPM Position Increased by Calamos Advisors LLC

Calamos Advisors LLC boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 804,936 shares of the financial services provider’s stock after purchasing an additional 91,741 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.8% of Calamos Advisors LLC’s portfolio, making the stock its 17th biggest position. Calamos Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $236,780,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of JPM. Brighton Jones LLC increased its holdings in JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after buying an additional 4,841 shares during the last quarter. Acorns Advisers LLC grew its position in JPMorgan Chase & Co. by 6.9% in the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after acquiring an additional 100 shares in the last quarter. Ignite Planners LLC increased its stake in shares of JPMorgan Chase & Co. by 0.7% during the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider’s stock worth $3,185,000 after purchasing an additional 78 shares during the last quarter. Jump Financial LLC bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $1,475,000. Finally, Betterment LLC lifted its stake in shares of JPMorgan Chase & Co. by 27.5% in the 2nd quarter. Betterment LLC now owns 1,970 shares of the financial services provider’s stock valued at $571,000 after purchasing an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. News Roundup

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan’s blowout Q2 earnings are driving bullish sentiment, with the bank reporting record profits, 41% higher net income, strong trading and investment banking activity, and higher full-year net interest income guidance. JPMorgan Just Reported $21.2 Billion in Q2 Net Income — Up 41% — and CEO Jamie Dimon Said the Economy Is “Close to as Good as It Gets.”
• Positive Sentiment: Analysts have been raising expectations after the results, including multiple higher price targets and upgraded earnings forecasts, signaling confidence that JPMorgan can continue to outperform. JPMorgan Price Target Raised to $380 on Strong Q2 Results, Upgraded Outlook and Capital Strength
• Positive Sentiment: The stock is also benefiting from expectations that JPMorgan may raise its quarterly dividend by 10% after passing the Federal Reserve stress test, reinforcing the bank’s capital strength and shareholder-return story. JPM Stock Just Staged a Record Bull Run. 1 Analyst Thinks It Can Still Soar to $420.
• Neutral Sentiment: JPMorgan was added to several “Strong Buy” and momentum/income stock lists, which adds to positive sentiment but is less directly impactful than earnings or guidance. New Strong Buy Stocks for July 17th
• Neutral Sentiment: JPMorgan also drew attention for major financing activity and a $24 million Philadelphia shipbuilding investment, highlighting ongoing business expansion and capital deployment. JPMorgan Chase (JPM) Puts $24 Million Into Philadelphia Shipbuilding And Defense
• Negative Sentiment: Late-day sector weakness in financial stocks may be limiting JPMorgan’s upside even as company-specific fundamentals remain strong. Sector Update: Financial Stocks Decline Friday Afternoon

Analyst Ratings Changes

Several research firms have commented on JPM. The Goldman Sachs Group reissued a “buy” rating and set a $418.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday. Jefferies Financial Group set a $350.00 price target on JPMorgan Chase & Co. in a research note on Tuesday. Robert W. Baird raised their price objective on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a “neutral” rating in a research note on Wednesday. UBS Group upped their target price on JPMorgan Chase & Co. from $375.00 to $384.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Finally, Piper Sandler increased their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $354.92.

JPMorgan Chase & Co. Trading Down 0.5%

JPMorgan Chase & Co. stock opened at $341.60 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85. The business’s 50-day simple moving average is $319.11 and its 200-day simple moving average is $310.31. The firm has a market capitalization of $915.33 billion, a PE ratio of 14.64, a PEG ratio of 1.53 and a beta of 0.99. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $351.24.

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 issued a $1.50 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.71%.

Insiders Place Their Bets

In other news, CFO Jeremy Barnum sold 3,022 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the sale, the chief financial officer owned 32,438 shares in the company, valued at approximately $10,036,641.58. This trade represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 4,919 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the transaction, the chief operating officer directly owned 85,082 shares in the company, valued at $26,326,072.44. This trade represents a 5.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 18,876 shares of company stock valued at $5,907,051 in the last three months. Company insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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.