JPMorgan Chase & Co. (NYSE:JPM) Trading Down 0.7% – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM) shares traded down 0.7% during trading on Thursday . The stock traded as low as $247.18 and last traded at $249.38. 2,225,045 shares were traded during mid-day trading, a decline of 75% from the average session volume of 8,862,698 shares. The stock had previously closed at $251.03.

Analyst Ratings Changes

A number of research analysts recently weighed in on JPM shares. Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $215.00 to $220.00 in a report on Friday, March 7th. 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. Keefe, Bruyette & Woods raised their price objective on shares of 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. UBS Group upped their target price on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Bank of America boosted their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $252.89.

JPMorgan Chase & Co. Stock Down 0.7 %

The stock has a 50 day moving average of $257.99 and a 200 day moving average of $240.06. The firm has a market capitalization of $696.87 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 2.83 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) 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 analyst estimates 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 revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.04 EPS. As a group, analysts expect 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 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 is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s payout ratio is presently 28.37%.

Insiders Place Their Bets

In related news, CEO Troy L. Rohrbaugh sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $247.02, for a total value of $6,175,500.00. Following the completion of the transaction, the chief executive officer now owns 133,381 shares of the company’s stock, valued at approximately $32,947,774.62. This trade represents a 15.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the sale, the insider now directly owns 50,377 shares of the company’s stock, valued at $13,606,323.93. This trade represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,848 shares of company stock worth $19,987,908. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of JPM. Redwood Park Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $29,000. Sellwood Investment Partners LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $34,000. Investment Counsel Co. of Nevada acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $37,000. Midwest Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $43,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in JPMorgan Chase & Co. during the fourth quarter valued at approximately $43,000. 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.