JPMorgan Chase & Co. (NYSE:JPM) Shares Up 1.3% on Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM) shares shot up 1.3% on Tuesday after Morgan Stanley raised their price target on the stock from $236.00 to $240.00. Morgan Stanley currently has an equal weight rating on the stock. JPMorgan Chase & Co. traded as high as $281.78 and last traded at $281.82. 2,152,581 shares were traded during mid-day trading, a decline of 77% from the average session volume of 9,465,994 shares. The stock had previously closed at $278.27.

A number of other analysts have also recently issued reports on the company. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Robert W. Baird upped their price target 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. Royal Bank Of Canada reissued a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Piper Sandler reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Thirteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $271.90.

Get Our Latest Stock Analysis on JPM

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 91,539 shares of the company’s stock, valued at approximately $22,884,750. This represents a 9.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the transaction, the general counsel now directly owns 36,520 shares of the company’s stock, valued at $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. Over the last three months, insiders sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

JPMorgan Chase & Co. Stock Performance

The company has a market capitalization of $789.65 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 2.63 and a beta of 1.08. The stock has a 50-day moving average price of $259.29 and a 200-day moving average price of $252.14. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. During the same period last year, the firm posted $4.44 earnings per share. The business’s revenue was up 8.0% on a year-over-year basis. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.97%. JPMorgan Chase & Co.’s payout ratio is 27.49%.

About JPMorgan Chase & Co.

(Get Free Report)

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.

Further Reading

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