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

JPMorgan Chase & Co. (NYSE:JPM)’s stock price was up 0.7% during mid-day trading on Tuesday . The stock traded as high as $238.65 and last traded at $236.26. Approximately 2,491,307 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 9,630,285 shares. The stock had previously closed at $234.72.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on JPM shares. KGI Securities initiated coverage on shares of JPMorgan Chase & Co. in a research report on Sunday. They set a “hold” rating for the company. Wolfe Research raised 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. Evercore ISI decreased their target price on 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. Barclays upped their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, StockNews.com downgraded JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $254.67.

JPMorgan Chase & Co. Stock Down 1.5 %

The firm has a market capitalization of $639.34 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average of $246.37 and a two-hundred day moving average of $242.27.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping 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 company had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same period last year, the business posted $4.44 EPS. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts forecast 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. Investors of record on Friday, April 4th will be issued a dividend of $1.40 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. This represents a $5.60 annualized dividend and a dividend yield of 2.44%. JPMorgan Chase & Co.’s payout ratio is presently 27.49%.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the sale, the insider now directly owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. The trade was a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the sale, the chief operating officer now owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. This trade represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 73,545 shares of company stock worth $19,149,144. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several large investors have recently modified their holdings of JPM. 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 worth $14,161,171,000 after acquiring an additional 876,417 shares during the period. Norges Bank acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth $8,310,884,000. Northern Trust Corp increased its holdings in shares of 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 valued at $8,113,147,000 after purchasing an additional 4,515,147 shares during the period. GAMMA Investing LLC raised its stake in shares of JPMorgan Chase & Co. by 25,861.9% during the first 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 in 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 buying an additional 1,914,049 shares during the period. 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.