JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 3.1% - Here's Why

JPMorgan Chase & Co. (NYSE:JPM) fell 3.1% on Tuesday . The stock traded as low as $281.98 and last traded at $283.02. 4,097,722 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 9,511,453 shares. The stock had previously closed at $291.97.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of recent analyst reports. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a research note on Monday. HSBC restated a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday. Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a research report on Friday, June 27th. Finally, Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $276.80.

JPMorgan Chase & Co. Stock Performance

The stock has a market capitalization of $785.15 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 2.75 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. The firm has a 50-day moving average of $267.94 and a 200-day moving average of $255.26.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The business had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter in the previous year, the business earned $4.44 EPS. The company's quarterly revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is presently 27.49%.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the sale, the director directly owned 91,539 shares of the company's stock, valued at approximately $22,884,750. This represents a 9.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $1,608,416.16. Following the sale, the chief operating officer directly owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock worth $18,060,015 over the last 90 days. Company insiders own 0.47% of the company's stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $28,000. Redwood Park Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $29,000. University of Illinois Foundation acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $30,000. Curat Global LLC acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $33,000. Finally, Sellwood Investment Partners LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $34,000. Institutional investors and hedge funds 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.

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