JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 1.3% After Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM) rose 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 traded hands during trading, a decline of 77% from the average daily volume of 9,465,994 shares. The stock had previously closed at $278.27.

Other analysts have also recently issued research reports about the company. Truist Financial increased their price objective on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a "hold" rating in a report on Monday, June 2nd. UBS Group increased their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Piper Sandler reaffirmed a "hold" rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Robert W. Baird raised their price objective on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Finally, Evercore ISI reduced their price target on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a report on Tuesday, April 1st. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $271.90.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at $28,000. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth about $29,000. University of Illinois Foundation acquired a new position in JPMorgan Chase & Co. in the 1st quarter worth about $30,000. Curat Global LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $33,000. Finally, Sellwood Investment Partners LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $34,000. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Up 1.2%

The company has a 50 day moving average of $257.24 and a 200 day moving average of $251.71. The firm has a market cap of $782.50 billion, a P/E ratio of 13.83, a PEG ratio of 2.57 and a beta of 1.08. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89.

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

JPMorgan Chase & Co. Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.49%.

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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