Pallas Capital Advisors LLC Sells 3,118 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Pallas Capital Advisors LLC lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,303 shares of the financial services provider’s stock after selling 3,118 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.1% of Pallas Capital Advisors LLC’s holdings, making the stock its 13th biggest holding. Pallas Capital Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $24,763,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in JPM. Eagle Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. by 0.4% during the second quarter. Eagle Capital Management LLC now owns 21,867 shares of the financial services provider’s stock valued at $4,423,000 after purchasing an additional 84 shares in the last quarter. Fiera Capital Corp boosted its holdings in shares of JPMorgan Chase & Co. by 1.7% during the 2nd quarter. Fiera Capital Corp now owns 3,738 shares of the financial services provider’s stock valued at $756,000 after buying an additional 63 shares in the last quarter. Andra AP fonden boosted its holdings in shares of JPMorgan Chase & Co. by 82.2% during the 2nd quarter. Andra AP fonden now owns 270,000 shares of the financial services provider’s stock valued at $54,610,000 after buying an additional 121,800 shares in the last quarter. Hutchinson Capital Management CA grew its position in shares of JPMorgan Chase & Co. by 143.5% in the 2nd quarter. Hutchinson Capital Management CA now owns 5,089 shares of the financial services provider’s stock worth $1,029,000 after buying an additional 2,999 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in shares of JPMorgan Chase & Co. by 13.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 420,057 shares of the financial services provider’s stock worth $84,961,000 after acquiring an additional 49,937 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JPM has been the topic of a number of recent research reports. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $220.00 to $224.00 in a report on Monday, September 30th. Barclays upped their price target on JPMorgan Chase & Co. from $257.00 to $304.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Truist Financial started coverage on JPMorgan Chase & Co. in a research note on Tuesday, January 7th. They set a “hold” rating and a $260.00 price objective for the company. Bank of America increased their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Finally, Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus target price of $245.83.

JPMorgan Chase & Co. Stock Up 1.8 %

Shares of JPMorgan Chase & Co. stock opened at $244.25 on Tuesday. JPMorgan Chase & Co. has a twelve month low of $164.30 and a twelve month high of $254.31. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The company’s 50 day moving average is $242.08 and its 200 day moving average is $223.20. The company has a market cap of $687.65 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 3.54 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The firm had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the business posted $4.33 EPS. Research analysts anticipate that JPMorgan Chase & Co. will post 17.62 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a $1.25 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 2.05%. JPMorgan Chase & Co.’s payout ratio is 27.82%.

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 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.