JPMorgan Chase & Co. (NYSE:JPM) Upgraded to "Strong-Buy" at Citigroup

JPMorgan Chase & Co. (NYSE:JPM) was upgraded by stock analysts at Citigroup from a "hold" rating to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

Several other brokerages also recently commented on JPM. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Piper Sandler reaffirmed a "hold" rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Robert W. Baird downgraded 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 note on Friday, June 27th. Finally, TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $277.74.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $291.95 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $811.36 billion, a PE ratio of 14.33, a P/E/G ratio of 2.75 and a beta of 1.10. The firm has a fifty day simple moving average of $267.94 and a two-hundred day simple moving average of $255.26. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $296.40.

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, topping the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $4.44 earnings per share. Research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,821 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 $749,567.91. Following the sale, the general counsel owned 68,757 shares in the company, valued at approximately $18,269,422.47. This represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the director owned 91,539 shares in the company, valued at approximately $22,884,750. This trade represents a 9.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock worth $18,060,015 in the last ninety days. 0.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $8,310,884,000. GAMMA Investing LLC grew its holdings in shares of JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after buying an additional 23,465,278 shares during the last quarter. Nuveen LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $3,972,807,000. Northern Trust Corp grew its holdings in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after buying an additional 4,515,147 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of JPMorgan Chase & Co. by 31.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock valued at $2,561,256,000 after buying an additional 2,551,899 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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