JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 1.8% – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM) traded down 1.8% during trading on Friday . The company traded as low as $240.55 and last traded at $242.08. 3,121,938 shares traded hands during trading, a decline of 64% from the average session volume of 8,626,607 shares. The stock had previously closed at $246.54.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Bank of America raised their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Oppenheimer lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods lifted their target price on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Finally, Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and upped their price target for the company from $215.00 to $220.00 in a report on Friday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $252.89.

JPMorgan Chase & Co. Price Performance

The company’s fifty day simple moving average is $259.38 and its 200-day simple moving average is $238.07. The stock has a market cap of $676.94 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. During the same quarter in the previous year, the firm posted $3.04 earnings per share. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 25.33%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the transaction, the general counsel now owns 47,620 shares in the company, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the sale, the chief operating officer now owns 54,469 shares in the company, valued at $14,698,459.65. The trade was a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,326 shares of company stock valued at $12,448,445 in the last ninety days. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors have recently modified their holdings of JPM. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $8,310,884,000. Northern Trust Corp increased its stake in shares of JPMorgan Chase & Co. by 15.4% in the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock valued at $8,113,147,000 after buying an additional 4,515,147 shares during the period. Fisher Asset Management LLC increased its stake in shares of JPMorgan Chase & Co. by 31.7% in the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after buying an additional 4,043,841 shares during the period. Proficio Capital Partners LLC raised its position in shares of JPMorgan Chase & Co. by 34,259.3% during the fourth quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock worth $838,865,000 after acquiring an additional 3,489,314 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of JPMorgan Chase & Co. by 31.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider’s stock valued at $2,561,256,000 after acquiring an additional 2,551,899 shares during the period. 71.55% of the stock is owned by institutional investors.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.