JPMorgan Chase & Co. (NYSE:JPM) Shares Down 0.8% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM) fell 0.8% during mid-day trading on Wednesday . The stock traded as low as $211.00 and last traded at $215.17. 5,257,999 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 9,565,430 shares. The stock had previously closed at $216.87.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of research analyst reports. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research report on Friday, January 3rd. UBS Group raised their price objective on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $215.00 to $220.00 in a research note on Friday, March 7th. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Truist Financial cut their target price on JPMorgan Chase & Co. from $268.00 to $264.00 and set a “hold” rating for the company in a research report on Friday, April 4th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average target price of $254.83.

JPMorgan Chase & Co. Stock Up 4.0 %

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 stock has a market cap of $660.60 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The firm has a 50 day simple moving average of $249.53 and a two-hundred day simple moving average of $241.85.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.37%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.’s payout ratio is presently 28.37%.

Insider Buying and Selling

In other news, insider Robin Leopold sold 1,250 shares of the 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 owns 49,127 shares of the company’s stock, valued at $12,130,438.84. This represents a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the sale, the chief executive officer now owns 133,381 shares in the company, valued at approximately $32,947,774.62. The trade was a 15.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 76,848 shares of company stock valued at $19,987,908. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of JPMorgan Chase & Co. by 3.2% in the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock valued at $1,228,110,000 after acquiring an additional 182,648 shares during the last quarter. Invst LLC raised its stake in shares of JPMorgan Chase & Co. by 1.4% during the 3rd quarter. Invst LLC now owns 15,033 shares of the financial services provider’s stock worth $3,170,000 after purchasing an additional 204 shares in the last quarter. Passumpsic Savings Bank boosted its holdings in shares of JPMorgan Chase & Co. by 15.1% in the 3rd quarter. Passumpsic Savings Bank now owns 10,753 shares of the financial services provider’s stock valued at $2,267,000 after buying an additional 1,407 shares during the last quarter. SOA Wealth Advisors LLC. increased its holdings in JPMorgan Chase & Co. by 1.5% during the third quarter. SOA Wealth Advisors LLC. now owns 21,082 shares of the financial services provider’s stock worth $4,445,000 after buying an additional 311 shares during the last quarter. Finally, Morse Asset Management Inc raised its position in JPMorgan Chase & Co. by 234.4% during the third quarter. Morse Asset Management Inc now owns 7,226 shares of the financial services provider’s stock worth $1,524,000 after acquiring an additional 5,065 shares in the last quarter. 71.55% of the stock is currently 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. 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.