JPMorgan Chase & Co. (NYSE:JPM) shares traded down 1.8% during mid-day trading on Tuesday . The company traded as low as $287.24 and last traded at $288.89. 2,120,789 shares changed hands during trading, a decline of 79% from the average session volume of 10,047,835 shares. The stock had previously closed at $294.26.
Analysts Set New Price Targets
A number of brokerages have weighed in on JPM. KGI Securities began coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a "hold" rating on the stock. Citigroup set a $275.00 price objective on JPMorgan Chase & Co. and gave the stock a "buy" rating in a research note on Monday, July 7th. HSBC reaffirmed a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Finally, Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and an average price target of $288.68.
Read Our Latest Research Report on JPM
JPMorgan Chase & Co. Trading Down 1.0%
The stock's 50 day moving average price is $281.70 and its 200-day moving average price is $261.93. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $809.25 billion, a PE ratio of 14.95, a PEG ratio of 1.94 and a beta of 1.11.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the business posted $6.12 EPS. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.
Insiders Place Their Bets
In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the transaction, the chief operating officer owned 62,455 shares of the company's stock, valued at $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Stacey Friedman sold 2,821 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the sale, the general counsel directly owned 68,757 shares in the company, valued at approximately $18,269,422.47. This trade represents a 3.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,557 shares of company stock valued at $4,113,796 in the last ninety days. Insiders own 0.47% of the company's stock.
Institutional Trading of JPMorgan Chase & Co.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbor Asset Planning Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at approximately $26,000. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. during the 1st quarter worth $28,000. Redwood Park Advisors LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth $29,000. University of Illinois Foundation bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth $30,000. Finally, Curat Global LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth $33,000. Hedge funds and other institutional investors own 71.55% of the company's stock.
About JPMorgan Chase & Co.
(
Get Free Report)
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.
Further Reading
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