JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 0.1% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM)’s share price shot up 0.1% during trading on Thursday . The company traded as high as $229.50 and last traded at $228.15. 3,358,729 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 8,814,512 shares. The stock had previously closed at $227.90.

Analyst Upgrades and Downgrades

A number of research firms have commented on JPM. Truist Financial increased their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Piper Sandler increased their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Citigroup increased their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Finally, Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $252.89.

JPMorgan Chase & Co. Stock Performance

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 fifty day simple moving average of $258.29 and a 200 day simple moving average of $238.70. The company has a market capitalization of $651.31 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.78. The business had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.04 earnings per share. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 50,377 shares in the company, valued at $13,606,323.93. This trade represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Insiders have sold a total of 46,326 shares of company stock worth $12,448,445 over the last quarter. 0.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

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