JPMorgan Chase & Co. (NYSE:JPM) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of JPMorgan Chase & Co. (NYSE:JPM) in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a $185.00 target price on the financial services provider’s stock.

JPM has been the topic of a number of other reports. Barclays increased their price target on shares of JPMorgan Chase & Co. from $186.00 to $212.00 and gave the company an overweight rating in a research report on Tuesday, January 2nd. Piper Sandler raised their target price on shares of JPMorgan Chase & Co. from $190.00 to $200.00 and gave the stock an overweight rating in a report on Tuesday, January 16th. The Goldman Sachs Group restated a buy rating on shares of JPMorgan Chase & Co. in a report on Thursday, February 1st. BMO Capital Markets raised their target price on shares of JPMorgan Chase & Co. from $192.00 to $194.00 and gave the stock a market perform rating in a report on Tuesday, January 16th. Finally, Morgan Stanley raised their target price on shares of JPMorgan Chase & Co. from $191.00 to $221.00 and gave the stock an overweight rating in a report on Tuesday, January 30th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of Moderate Buy and an average price target of $181.63.

Check Out Our Latest Analysis on JPM

JPMorgan Chase & Co. Trading Down 1.2 %

Shares of JPM opened at $196.62 on Wednesday. The firm’s 50 day simple moving average is $180.50 and its 200 day simple moving average is $162.40. The company has a market capitalization of $566.34 billion, a P/E ratio of 12.12, a P/E/G ratio of 2.51 and a beta of 1.14. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.91 and a quick ratio of 0.91. JPMorgan Chase & Co. has a 1-year low of $123.11 and a 1-year high of $200.48.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last announced its earnings results on Friday, January 12th. The financial services provider reported $3.04 earnings per share for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.69). The company had revenue of $38.57 billion during the quarter, compared to analysts’ expectations of $39.73 billion. JPMorgan Chase & Co. had a net margin of 20.70% and a return on equity of 17.80%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.57 earnings per share. Sell-side analysts forecast that JPMorgan Chase & Co. will post 15.84 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s payout ratio is currently 25.89%.

Insider Transactions at JPMorgan Chase & Co.

In related news, CEO James Dimon sold 821,778 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total value of $150,163,493.94. Following the completion of the sale, the chief executive officer now directly owns 595,316 shares in the company, valued at approximately $108,782,092.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Ashley Bacon sold 3,368 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $166.73, for a total value of $561,546.64. Following the completion of the sale, the insider now directly owns 205,461 shares in the company, valued at approximately $34,256,512.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James Dimon sold 821,778 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total value of $150,163,493.94. Following the sale, the chief executive officer now owns 595,316 shares of the company’s stock, valued at $108,782,092.68. The disclosure for this sale can be found here. Insiders sold a total of 845,383 shares of company stock valued at $154,341,636 in the last quarter. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of large investors have recently made changes to their positions in the company. State Street Corp grew its stake in shares of JPMorgan Chase & Co. by 1.9% during the 2nd quarter. State Street Corp now owns 126,243,947 shares of the financial services provider’s stock valued at $18,360,920,000 after purchasing an additional 2,384,901 shares during the period. Moneta Group Investment Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 105,652.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after purchasing an additional 97,907,897 shares during the period. Morgan Stanley grew its stake in shares of JPMorgan Chase & Co. by 0.3% during the 3rd quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider’s stock valued at $9,127,754,000 after acquiring an additional 201,441 shares during the period. Geode Capital Management LLC grew its stake in shares of JPMorgan Chase & Co. by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 53,367,497 shares of the financial services provider’s stock valued at $7,740,212,000 after acquiring an additional 1,057,041 shares during the period. Finally, FMR LLC grew its stake in shares of JPMorgan Chase & Co. by 1.2% during the 3rd quarter. FMR LLC now owns 49,417,639 shares of the financial services provider’s stock valued at $7,166,546,000 after acquiring an additional 606,382 shares during the period. 68.94% of the stock is currently owned by institutional investors.

About JPMorgan Chase & Co.

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JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.

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Analyst Recommendations for JPMorgan Chase & Co. (NYSE:JPM)

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