Morgan Stanley Raises JPMorgan Chase & Co. (NYSE:JPM) Price Target to $240.00

JPMorgan Chase & Co. (NYSE:JPM) had its target price raised by research analysts at Morgan Stanley from $236.00 to $240.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's target price suggests a potential downside of 13.15% from the stock's current price.

JPM has been the topic of several other reports. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an "overweight" rating in a report on Tuesday, June 10th. Truist Financial boosted their price target on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a "hold" rating in a research report 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, Piper Sandler reiterated a "hold" rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $271.90.

JPMorgan Chase & Co. Stock Up 0.5%

NYSE JPM traded up $1.35 on Monday, reaching $276.35. 3,868,105 shares of the stock traded hands, compared to its average volume of 9,477,751. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $280.25. The company has a market cap of $768.01 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 2.57 and a beta of 1.08. The company has a fifty day moving average price of $256.36 and a 200-day moving average price of $251.50. 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 released its quarterly earnings data 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 16.88% and a net margin of 21.21%. The firm 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 quarterly revenue was up 8.0% on a year-over-year basis. As a group, research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the sale, the director now owns 91,539 shares in the company, valued at $22,884,750. This trade represents a 9.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jeremy Barnum sold 40,014 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction 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 $4,518,123.09. This represents a 68.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,200 shares of company stock worth $18,060,015. Company insiders own 0.47% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $28,000. Redwood Park Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $29,000. University of Illinois Foundation acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth $30,000. Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth $33,000. Finally, Sellwood Investment Partners LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $34,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

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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