JPMorgan Chase & Co. (NYSE:JPM) Trading 1.7% Higher - Here's What Happened

Shares of JPMorgan Chase & Co. (NYSE:JPM) rose 1.7% during trading on Friday . The company traded as high as $266.48 and last traded at $266.46. Approximately 2,093,147 shares traded hands during trading, a decline of 78% from the average daily volume of 9,520,002 shares. The stock had previously closed at $261.95.

Analyst Upgrades and Downgrades

JPM has been the topic of several recent analyst reports. Piper Sandler restated a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday. Royal Bank of Canada reissued a "hold" rating on shares of JPMorgan Chase & Co. in a research note on Monday. KGI Securities assumed coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a "hold" rating for the company. Robert W. Baird lifted their price objective on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Finally, Evercore ISI decreased their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $267.15.

JPMorgan Chase & Co. Trading Up 1.5%

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 firm has a market cap of $738.71 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 2.83 and a beta of 1.08. The business's 50-day moving average price is $247.68 and its two-hundred day moving average price is $249.86.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued 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 16.99% and a net margin of 20.96%. The company 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 firm posted $4.44 EPS. JPMorgan Chase & Co.'s revenue was up 8.0% on a year-over-year basis. Equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be paid a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 2.11%. JPMorgan Chase & Co.'s payout ratio is currently 27.49%.

Insider Buying and Selling

In other news, CEO Troy L. Rohrbaugh sold 25,000 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the completion of the sale, the chief executive officer now directly owns 133,381 shares in the company, valued at $32,947,774.62. This represents a 15.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction on 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 completion of the transaction, the general counsel now owns 36,520 shares in the company, valued at $9,703,729.20. The trade was a 15.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,722 shares of company stock worth $25,599,477. 0.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of JPMorgan Chase & Co. by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider's stock worth $938,491,000 after buying an additional 319,730 shares during the period. Capital & Planning LLC raised its holdings in shares of JPMorgan Chase & Co. by 13.3% during the 4th quarter. Capital & Planning LLC now owns 2,357 shares of the financial services provider's stock valued at $565,000 after buying an additional 276 shares during the period. Financial Partners Group Inc lifted its position in JPMorgan Chase & Co. by 4.8% during the 4th quarter. Financial Partners Group Inc now owns 5,235 shares of the financial services provider's stock worth $1,255,000 after acquiring an additional 239 shares in the last quarter. Brighton Jones LLC boosted its holdings in JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after acquiring an additional 4,841 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $66,088,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

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.