StockNews.com Downgrades JPMorgan Chase & Co. (NYSE:JPM) to Sell

StockNews.com cut shares of JPMorgan Chase & Co. (NYSE:JPM) from a hold rating to a sell rating in a research report report published on Monday.

Several other analysts have also issued reports on JPM. UBS Group upped their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Evercore ISI decreased their target price on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 1st. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Truist Financial decreased their price objective on JPMorgan Chase & Co. from $264.00 to $251.00 and set a “hold” rating on the stock in a report on Monday. Finally, Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their target price for the company from $215.00 to $220.00 in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $254.67.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $229.73 on Monday. The company’s fifty day moving average price is $246.37 and its 200-day moving average price is $242.27. 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 capitalization of $639.34 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 2.83 and a beta of 1.01. JPMorgan Chase & Co. has a one year low of $179.20 and a one year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last released 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. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter last year, the business posted $4.44 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a $1.40 dividend. The ex-dividend date is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a yield of 2.44%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.49%.

Insiders Place Their Bets

In related news, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the sale, the insider now directly owns 50,377 shares of the company’s stock, valued at $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the transaction, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at $42,737,529.04. This represents a 19.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,545 shares of company stock worth $19,149,144. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in JPMorgan Chase & Co. by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock valued at $14,161,171,000 after buying an additional 876,417 shares during the last quarter. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $8,310,884,000. Northern Trust Corp boosted its stake in 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 worth $8,113,147,000 after purchasing an additional 4,515,147 shares in the last quarter. GAMMA Investing LLC grew its position in JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in JPMorgan Chase & Co. by 9.1% during the 4th quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock valued at $5,475,223,000 after purchasing an additional 1,914,049 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

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.