Pallas Capital Advisors LLC Decreases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Pallas Capital Advisors LLC trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,296 shares of the financial services provider's stock after selling 7,007 shares during the quarter. JPMorgan Chase & Co. makes up 1.0% of Pallas Capital Advisors LLC's holdings, making the stock its 12th biggest holding. Pallas Capital Advisors LLC's holdings in JPMorgan Chase & Co. were worth $23,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Redwood Park Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $29,000. Curat Global LLC bought a new position in JPMorgan Chase & Co. during the first quarter worth $33,000. Sellwood Investment Partners LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter worth $34,000. Investment Counsel Co. of Nevada bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $37,000. Finally, Midwest Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $43,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM traded up $1.89 on Tuesday, reaching $268.63. 7,535,255 shares of the company's stock were exchanged, compared to its average volume of 9,546,168. The stock has a fifty day simple moving average of $248.09 and a 200-day simple moving average of $250.08. JPMorgan Chase & Co. has a 52 week low of $190.88 and a 52 week high of $280.25. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The firm has a market cap of $746.54 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 2.83 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. During the same quarter in the previous year, the firm posted $4.44 EPS. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.08%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 27.49%.

Insiders Place Their Bets

In other news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 24th. The shares were sold at an average price of $246.92, for a total transaction of $308,650.00. Following the completion of the sale, the insider now directly owns 49,127 shares of the company's stock, valued at approximately $12,130,438.84. The trade was a 2.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, the chief operating officer now owns 62,455 shares of the company's stock, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,722 shares of company stock worth $25,599,477 in the last three months. 0.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on JPM. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an "overweight" rating in a report on Tuesday. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Thirteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $269.65.

JPMorgan Chase & Co. Company Profile

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.