JPMorgan Chase & Co. (NYSE:JPM) Shares Down 1.1% - Should You Sell?

Key Points

• JPMorgan Chase & Co. (NYSE:JPM) shares fell by 1.1% to $304.31 with trading volume dropping 32% below the average, indicating a downturn in investor activity.
• Analysts have mixed opinions on JPMorgan, with 15 rating it as a Buy, 8 as Hold, and 3 as Sell, while price targets range from $235 to $345.
• The company announced an increase in its quarterly dividend to $1.50 per share, representing an annual yield of 2.0%, effective for investors on record by October 6th.

JPMorgan Chase & Co. (NYSE:JPM)'s share price dropped 1.1% during mid-day trading on Wednesday . The company traded as low as $303.55 and last traded at $304.31. Approximately 6,462,180 shares traded hands during trading, a decline of 32% from the average daily volume of 9,537,469 shares. The stock had previously closed at $307.69.

Analyst Upgrades and Downgrades

A number of research firms have commented on JPM. Phillip Securities cut shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target on the stock. in a research report on Friday, June 27th. Evercore ISI increased their price target on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 30th. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Fifteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of "Hold" and an average target price of $309.95.

JPMorgan Chase & Co. Stock Performance

The stock has a market cap of $836.78 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 2.03 and a beta of 1.13. The stock's 50-day moving average is $301.10 and its 200-day moving average is $275.67. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The business's revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $6.12 EPS. On average, analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a $1.50 dividend. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio is presently 30.79%.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the transaction, the director directly owned 82,207 shares in the company, valued at $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. JFS Wealth Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 0.4% during the 2nd quarter. JFS Wealth Advisors LLC now owns 7,897 shares of the financial services provider's stock worth $2,290,000 after purchasing an additional 35 shares during the last quarter. Cottonwood Capital Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.9% during the 2nd quarter. Cottonwood Capital Advisors LLC now owns 3,837 shares of the financial services provider's stock worth $1,112,000 after buying an additional 35 shares in the last quarter. Coign Capital Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 1.2% during the 2nd quarter. Coign Capital Advisors LLC now owns 2,854 shares of the financial services provider's stock worth $827,000 after buying an additional 35 shares in the last quarter. Rialto Wealth Management LLC raised its position in JPMorgan Chase & Co. by 3.9% in the second quarter. Rialto Wealth Management LLC now owns 929 shares of the financial services provider's stock valued at $269,000 after purchasing an additional 35 shares during the last quarter. Finally, Breed s Hill Capital LLC boosted its position in shares of JPMorgan Chase & Co. by 0.8% during the 2nd quarter. Breed s Hill Capital LLC now owns 4,642 shares of the financial services provider's stock worth $1,346,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.