JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 1.8% - Here's What Happened

JPMorgan Chase & Co. (NYSE:JPM) shares were down 1.8% during mid-day trading on Friday . The stock traded as low as $240.55 and last traded at $242.08. Approximately 3,121,938 shares were traded during trading, a decline of 64% from the average daily volume of 8,626,607 shares. The stock had previously closed at $246.54.

Analysts Set New Price Targets

Several analysts have recently issued reports on JPM shares. UBS Group increased their price target 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. Keefe, Bruyette & Woods increased their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a "market perform" rating in a research report on Thursday, January 16th. Oppenheimer cut shares of JPMorgan Chase & Co. from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 20th. Bank of America increased their price target on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a "buy" rating in a research report on Tuesday, January 7th. Finally, Citigroup increased their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $252.89.

JPMorgan Chase & Co. Price Performance

The company has a market capitalization of $648.18 billion, a PE ratio of 11.74, 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. The company's 50 day simple moving average is $259.26 and its 200 day simple moving average is $238.70.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. The company had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm's revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.04 earnings per share. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Insider Activity

In other news, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 158,381 shares of the company's stock, valued at approximately $42,737,529.04. This represents a 19.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value 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. The trade was a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,326 shares of company stock valued at $12,448,445. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several hedge funds have recently modified their holdings of the stock. Old North State Trust LLC lifted its holdings in shares of JPMorgan Chase & Co. by 5.0% during the fourth quarter. Old North State Trust LLC now owns 4,219 shares of the financial services provider's stock worth $1,011,000 after purchasing an additional 202 shares during the period. Capstone Triton Financial Group LLC lifted its holdings in shares of JPMorgan Chase & Co. by 7.3% during the fourth quarter. Capstone Triton Financial Group LLC now owns 5,520 shares of the financial services provider's stock worth $1,323,000 after purchasing an additional 374 shares during the period. Copia Wealth Management acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $80,000. IronOak Wealth LLC. acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $810,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $100,000. 71.55% of the stock is owned by institutional investors and hedge funds.

About JPMorgan Chase & Co.

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.