JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 0.1% After Analyst Downgrade

JPMorgan Chase & Co. (NYSE:JPM)’s stock price fell 0.1% during mid-day trading on Tuesday after Evercore ISI lowered their price target on the stock from $273.00 to $265.00. Evercore ISI currently has an outperform rating on the stock. JPMorgan Chase & Co. traded as low as $240.88 and last traded at $245.02. 1,953,554 shares traded hands during trading, a decline of 81% from the average session volume of 10,378,627 shares. The stock had previously closed at $245.30.

A number of other equities analysts have also weighed in on the stock. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. 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 report on Tuesday, January 7th. Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their price target for the company from $215.00 to $220.00 in a report on Friday, March 7th. Barclays boosted their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, UBS Group raised their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $254.83.

Insider Buying and Selling

In other news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the completion of the sale, the insider now owns 49,127 shares of the company’s stock, valued at approximately $12,130,438.84. This trade represents a 2.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were 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. The trade was a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,848 shares of company stock valued at $19,987,908. Company insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Disciplined Investments LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $217,000. LGT Group Foundation boosted its holdings in shares of JPMorgan Chase & Co. by 2.8% in the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock worth $126,040,000 after buying an additional 14,300 shares during the last quarter. Kinsale Capital Group Inc. grew its position in shares of JPMorgan Chase & Co. by 11.1% during the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock valued at $10,483,000 after acquiring an additional 4,375 shares during the period. Jag Capital Management LLC grew its holdings in JPMorgan Chase & Co. by 10.5% during the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock valued at $353,000 after purchasing an additional 140 shares during the period. Finally, JPMorgan Chase & Co. increased 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 worth $938,491,000 after acquiring an additional 319,730 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

The firm’s 50 day moving average price is $256.88 and its two-hundred day moving average price is $241.33. 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 stock has a market cap of $681.06 billion, a PE ratio of 12.34, a P/E/G ratio of 2.83 and a beta of 1.10.

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

JPMorgan Chase & Co. Increases Dividend

The company 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. The ex-dividend date is Friday, April 4th. This represents a $5.60 annualized dividend and a yield of 2.30%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.37%.

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.