JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 3.7% on Insider Selling

JPMorgan Chase & Co. (NYSE:JPM)’s stock price dropped 3.7% on Thursday following insider selling activity. The company traded as low as $269.28 and last traded at $268.80. Approximately 3,315,256 shares were traded during trading, a decline of 63% from the average daily volume of 9,026,547 shares. The stock had previously closed at $279.25.

Specifically, insider Robin Leopold sold 1,250 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the transaction, the insider now directly owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. This trade represents a 2.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the completion of the transaction, the chief operating officer now directly owns 54,469 shares in the company, valued at $14,698,459.65. This trade represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the transaction, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. This trade represents a 19.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

JPM has been the topic of several research reports. Bank of America increased their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a research report on Friday, January 3rd. Truist Financial raised their price objective on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. UBS Group raised their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $251.78.

JPMorgan Chase & Co. Stock Down 1.0 %

The company has a market capitalization of $738.56 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 2.83 and a beta of 1.12. The firm has a 50 day moving average price of $256.12 and a two-hundred day moving average price of $234.96. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The business had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 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 10.9% compared to the same quarter last year. During the same period last year, the firm earned $3.04 earnings per share. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were paid a $1.25 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.89%. JPMorgan Chase & Co.’s payout ratio is currently 25.33%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of hedge funds and other institutional investors have recently bought and sold shares of JPM. AMF Tjanstepension AB boosted its stake in JPMorgan Chase & Co. by 17.2% in the third quarter. AMF Tjanstepension AB now owns 473,785 shares of the financial services provider’s stock valued at $99,972,000 after acquiring an additional 69,451 shares during the period. Alpha Financial Partners LLC boosted its stake in JPMorgan Chase & Co. by 11.5% in the third quarter. Alpha Financial Partners LLC now owns 3,329 shares of the financial services provider’s stock valued at $702,000 after acquiring an additional 343 shares during the period. Cetera Trust Company N.A boosted its stake in JPMorgan Chase & Co. by 1.6% in the third quarter. Cetera Trust Company N.A now owns 17,851 shares of the financial services provider’s stock valued at $3,764,000 after acquiring an additional 280 shares during the period. Mattern Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 2.1% in the third quarter. Mattern Wealth Management LLC now owns 28,455 shares of the financial services provider’s stock valued at $6,000,000 after acquiring an additional 587 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new position in JPMorgan Chase & Co. in the third quarter valued at approximately $10,573,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.