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

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on JPM shares. Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $215.00 to $220.00 in a research report on Friday, March 7th. Barclays upped their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Bank of America increased their price target on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Finally, Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research note on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $252.89.

JPMorgan Chase & Co. Stock Performance

The firm’s fifty day simple moving average is $257.55 and its 200 day simple moving average is $240.30. The company has a market capitalization of $679.36 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The firm 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 company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.04 earnings per share. On average, research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.30%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 28.37%.

Insider Activity at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,273 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the completion of the sale, the chief operating officer now directly owns 54,469 shares in the company, valued at $14,698,459.65. The trade was a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robin Leopold sold 1,250 shares of the company’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 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 disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock worth $19,987,908 in the last three months. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in shares of JPMorgan Chase & Co. by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock worth $14,161,171,000 after purchasing an additional 876,417 shares during the last quarter. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $8,310,884,000. Northern Trust Corp lifted its position in shares of JPMorgan Chase & Co. by 15.4% in 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 acquiring an additional 4,515,147 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of JPMorgan Chase & Co. by 9.1% in the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock worth $5,475,223,000 after acquiring an additional 1,914,049 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of JPMorgan Chase & Co. by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,103,063 shares of the financial services provider’s stock worth $4,818,905,000 after purchasing an additional 71,122 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

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.