JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 0.2% – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM) was down 0.2% on Friday . The company traded as low as $274.72 and last traded at $276.27. Approximately 2,224,425 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 9,550,553 shares. The stock had previously closed at $276.90.

Analyst Ratings Changes

A number of brokerages have issued reports on JPM. Barclays increased their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Evercore ISI upped their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus target price of $251.78.

JPMorgan Chase & Co. Stock Performance

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 market capitalization of $776.57 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 2.87 and a beta of 1.12. The stock’s fifty day simple moving average is $249.57 and its 200-day simple moving average is $229.92.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. During the same period last year, the firm earned $3.04 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. Analysts predict that JPMorgan Chase & Co. will post 17.82 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.81%. JPMorgan Chase & Co.’s payout ratio is 25.33%.

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now directly owns 47,620 shares of the company’s stock, valued at $12,092,622.80. The trade was a 6.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.79% of the stock is owned by insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in JPMorgan Chase & Co. by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock valued at $12,258,346,000 after buying an additional 505,830 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of JPMorgan Chase & Co. by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,103,063 shares of the financial services provider’s stock worth $4,818,905,000 after acquiring an additional 71,122 shares during the period. Fisher Asset Management LLC raised its holdings in JPMorgan Chase & Co. by 3.7% during the fourth quarter. Fisher Asset Management LLC now owns 17,401,436 shares of the financial services provider’s stock worth $4,171,298,000 after purchasing an additional 617,164 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in JPMorgan Chase & Co. by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock valued at $3,180,806,000 after purchasing an additional 302,592 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in JPMorgan Chase & Co. by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after purchasing an additional 1,016,289 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

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.