JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 0.5% – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM) shares traded down 0.5% during trading on Monday . The stock traded as low as $237.36 and last traded at $241.58. 2,493,678 shares changed hands during trading, a decline of 73% from the average session volume of 9,317,413 shares. The stock had previously closed at $242.85.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on JPM shares. UBS Group increased their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Wolfe Research raised shares of 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 increased their price objective on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Finally, Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $215.00 to $220.00 in a research note on Friday, March 7th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $252.89.

JPMorgan Chase & Co. Price Performance

The firm has a market cap of $681.67 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The company has a 50 day moving average price of $257.55 and a 200 day moving average price of $240.77.

JPMorgan Chase & Co. (NYSE:JPM) last posted its 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. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. During the same period in the previous year, the business earned $3.04 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.37%.

Insiders Place Their Bets

In other news, CEO Troy L. Rohrbaugh sold 25,000 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, March 24th. The shares were 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. The trade was a 15.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the sale, the insider now owns 49,127 shares in the company, valued at approximately $12,130,438.84. This trade represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,848 shares of company stock worth $19,987,908. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several institutional investors have recently added to or reduced their stakes in JPM. Principal Financial Group Inc. increased its stake in JPMorgan Chase & Co. by 3.2% during the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after acquiring an additional 182,648 shares during the last quarter. United Bank increased its position in JPMorgan Chase & Co. by 2.5% during the 3rd quarter. United Bank now owns 25,354 shares of the financial services provider’s stock worth $5,346,000 after purchasing an additional 614 shares in the last quarter. Icon Wealth Advisors LLC raised its holdings in JPMorgan Chase & Co. by 7.4% in the third quarter. Icon Wealth Advisors LLC now owns 32,571 shares of the financial services provider’s stock valued at $6,868,000 after buying an additional 2,242 shares during the period. Captrust Financial Advisors lifted its position in JPMorgan Chase & Co. by 1.7% during the third quarter. Captrust Financial Advisors now owns 734,375 shares of the financial services provider’s stock valued at $154,850,000 after buying an additional 12,411 shares in the last quarter. Finally, Fred Alger Management LLC grew its stake in JPMorgan Chase & Co. by 3.6% during the third quarter. Fred Alger Management LLC now owns 111,678 shares of the financial services provider’s stock worth $23,548,000 after buying an additional 3,854 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

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.