JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 2.7% – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM) shares traded down 2.7% during mid-day trading on Thursday . The stock traded as low as $226.23 and last traded at $228.10. 3,917,166 shares traded hands during trading, a decline of 59% from the average session volume of 9,625,740 shares. The stock had previously closed at $234.34.

Analysts Set New Price Targets

JPM has been the topic of several research reports. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Truist Financial lowered their price objective on shares of JPMorgan Chase & Co. from $268.00 to $264.00 and set a “hold” rating on the stock in a research note on Friday, April 4th. Wolfe Research upgraded 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 note on Friday, January 3rd. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Finally, Bank of America lowered their price objective on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.83.

JPMorgan Chase & Co. Price Performance

The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $639.51 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The firm’s 50 day simple moving average is $250.33 and its 200 day simple moving average is $241.75.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping 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 company had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same period in the prior year, the company posted $3.04 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS 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 given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.45%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s payout ratio is 28.37%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 1,250 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the transaction, the insider now directly owns 50,377 shares in the company, valued at approximately $13,606,323.93. This trade represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stacey Friedman sold 3,303 shares of the company’s 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 sale, the general counsel now owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock valued at $19,987,908 in the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Disciplined Investments LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $217,000. LGT Group Foundation raised its position in JPMorgan Chase & Co. by 2.8% during the fourth quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock worth $126,040,000 after acquiring an additional 14,300 shares during the period. Kinsale Capital Group Inc. increased its stake in shares of JPMorgan Chase & Co. by 11.1% during the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock worth $10,483,000 after purchasing an additional 4,375 shares in the last quarter. Jag Capital Management LLC increased its stake in JPMorgan Chase & Co. by 10.5% during the 4th quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock worth $353,000 after buying an additional 140 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in JPMorgan Chase & Co. by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock valued at $938,491,000 after purchasing an additional 319,730 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.