JPMorgan Chase & Co. (NYSE:JPM) Trading Down 0.5% After Insider Selling

JPMorgan Chase & Co. (NYSE:JPM)'s share price dropped 0.5% during trading on Wednesday following insider selling activity. The stock traded as low as $263.75 and last traded at $264.41. Approximately 1,474,794 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 9,589,888 shares. The stock had previously closed at $265.68.

Specifically, General Counsel Stacey Friedman sold 2,821 shares of the business'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 $749,567.91. Following the transaction, the general counsel now directly owns 68,757 shares of the company's stock, valued at approximately $18,269,422.47. The trade was a 3.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $1,755,811.68. Following the sale, the general counsel now directly owns 36,520 shares in the company, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

JPM has been the subject of a number of recent analyst reports. Piper Sandler boosted their price target on shares of JPMorgan Chase & Co. from $260.00 to $295.00 and gave the company an "overweight" rating in a research report on Tuesday. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a "hold" rating on the stock. UBS Group raised their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Royal Bank of Canada boosted their price target on JPMorgan Chase & Co. from $255.00 to $285.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Robert W. Baird raised their price objective on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a "neutral" rating in a research note on Tuesday. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $266.20.

JPMorgan Chase & Co. Trading Down 0.6%

The firm has a market cap of $734.12 billion, a P/E ratio of 13.38, a P/E/G ratio of 2.83 and a beta of 1.07. The stock has a 50 day simple moving average of $242.28 and a 200-day simple moving average of $247.67. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the company earned $4.44 EPS. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.12%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 27.49%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC grew its holdings in JPMorgan Chase & Co. by 11.0% during the 1st quarter. Acadian Asset Management LLC now owns 412,535 shares of the financial services provider's stock valued at $101,187,000 after purchasing an additional 40,748 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of JPMorgan Chase & Co. by 5.1% during the first quarter. Geneos Wealth Management Inc. now owns 60,947 shares of the financial services provider's stock valued at $14,950,000 after buying an additional 2,954 shares during the last quarter. Blue Rock Wealth Management LLC bought a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $869,000. Belpointe Asset Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.9% in the first quarter. Belpointe Asset Management LLC now owns 40,435 shares of the financial services provider's stock worth $9,919,000 after buying an additional 371 shares during the period. Finally, Jupiter Wealth Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 37.1% during the 1st quarter. Jupiter Wealth Management LLC now owns 1,429 shares of the financial services provider's stock worth $379,000 after acquiring an additional 387 shares during the last quarter. Hedge funds and other institutional investors 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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