Calamos Wealth Management LLC Has $3.90 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Posted by Defense World Staff on Oct 23rd, 2023

Calamos Wealth Management LLC grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,846 shares of the financial services provider’s stock after purchasing an additional 633 shares during the quarter. Calamos Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $3,904,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Adirondack Retirement Specialists Inc. raised its stake in JPMorgan Chase & Co. by 510.8% during the 1st quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock worth $29,000 after buying an additional 189 shares during the period. Nordwand Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth $30,000. Sageworth Trust Co raised its stake in JPMorgan Chase & Co. by 266.7% during the 1st quarter. Sageworth Trust Co now owns 407 shares of the financial services provider’s stock worth $53,000 after buying an additional 296 shares during the period. Aspire Private Capital LLC acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth $54,391,133,000. Finally, Miller Wealth Advisors LLC bought a new position in JPMorgan Chase & Co. during the 2nd quarter worth about $67,000. Institutional investors and hedge funds own 68.94% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.6 %

JPMorgan Chase & Co. stock opened at $142.95 on Monday. The stock has a 50-day simple moving average of $146.71 and a 200 day simple moving average of $144.12. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $415.42 billion, a P/E ratio of 8.53, a PEG ratio of 1.75 and a beta of 1.10. JPMorgan Chase & Co. has a 52 week low of $116.33 and a 52 week high of $159.38.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings data on Friday, October 13th. The financial services provider reported $4.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.95 by $0.38. The firm had revenue of $40.69 billion during the quarter, compared to the consensus estimate of $39.63 billion. JPMorgan Chase & Co. had a net margin of 22.79% and a return on equity of 17.97%. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period last year, the business posted $3.12 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 16.31 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be given a dividend of $1.05 per share. The ex-dividend date is Thursday, October 5th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. This represents a $4.20 annualized dividend and a yield of 2.94%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.07%.

Analyst Ratings Changes

A number of research firms have issued reports on JPM. Societe Generale cut JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Credit Suisse Group increased their target price on JPMorgan Chase & Co. from $160.00 to $170.00 in a report on Monday, July 17th. BMO Capital Markets increased their target price on JPMorgan Chase & Co. from $167.00 to $171.00 and gave the stock a “market perform” rating in a report on Monday, October 16th. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $174.00 to $180.00 in a report on Monday, July 17th. Finally, 888 restated a “maintains” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 26th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $169.79.

Check Out Our Latest Research Report on JPMorgan Chase & Co.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 4,310 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total value of $624,346.60. Following the completion of the sale, the general counsel now directly owns 53,425 shares in the company, valued at $7,739,145.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.79% of the company’s stock.

About JPMorgan Chase & Co.

(Free Report)

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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.