JPMorgan Chase & Co. (NYSE:JPM) Trading 1.3% Higher Following Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM) was up 1.3% on Tuesday after Morgan Stanley raised their price target on the stock from $236.00 to $240.00. Morgan Stanley currently has an equal weight rating on the stock. JPMorgan Chase & Co. traded as high as $281.78 and last traded at $281.82. Approximately 2,152,581 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 9,465,994 shares. The stock had previously closed at $278.27.

JPM has been the subject of a number of other research reports. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Truist Financial increased their price target on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a "hold" rating in a research report on Monday, June 2nd. Baird R W raised shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. Robert W. Baird upped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a "neutral" rating in a research note on Tuesday, May 20th. Finally, KGI Securities began coverage on shares of JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a "hold" rating for the company. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $273.15.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the transaction, the general counsel now directly owns 36,520 shares in the company, valued at $9,703,729.20. This represents a 15.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the completion of the transaction, the chief financial officer now directly owns 18,017 shares in the company, valued at approximately $4,518,123.09. This trade represents a 68.95% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several institutional investors have recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $28,000. Redwood Park Advisors LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $29,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $30,000. Curat Global LLC purchased 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. in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Down 0.9%

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 stock has a market capitalization of $795.41 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 2.64 and a beta of 1.08. The company has a 50-day moving average price of $260.44 and a 200 day moving average price of $252.45.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same period in the previous year, the company posted $4.44 earnings per share. The firm's revenue was up 8.0% on a year-over-year basis. On average, research analysts forecast 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 will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.96%. JPMorgan Chase & Co.'s payout ratio is 27.49%.

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.