JPMorgan Chase & Co. (NYSE:JPM) Shares Down 5.3% – Here’s Why

Shares of JPMorgan Chase & Co. (NYSE:JPM) were down 5.3% on Tuesday . The company traded as low as $247.00 and last traded at $246.69. Approximately 4,515,096 shares traded hands during trading, a decline of 47% from the average daily volume of 8,597,702 shares. The stock had previously closed at $260.62.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays increased their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target for the company. in a report on Thursday, November 7th. Citigroup boosted their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research note on Friday, January 3rd. Finally, Piper Sandler boosted their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $251.78.

JPMorgan Chase & Co. Price Performance

The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The company has a 50 day moving average of $258.99 and a 200-day moving average of $237.67. The stock has a market capitalization of $698.85 billion, a P/E ratio of 12.66, a PEG ratio of 2.83 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $41.90 billion. During the same period last year, the business posted $3.04 earnings per share. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. Sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were issued a dividend of $1.25 per share. The ex-dividend date was Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.00%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.33%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, 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 transaction of $1,153,069.05. Following the completion of the transaction, the chief operating officer now directly owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. This trade represents a 7.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were 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 $42,737,529.04. This represents a 19.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,326 shares of company stock worth $12,448,445. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AMF Tjanstepension AB boosted its holdings in JPMorgan Chase & Co. by 17.2% during the third quarter. AMF Tjanstepension AB now owns 473,785 shares of the financial services provider’s stock worth $99,972,000 after buying an additional 69,451 shares in the last quarter. Oak Harvest Investment Services lifted its position in shares of JPMorgan Chase & Co. by 9.7% during the 3rd quarter. Oak Harvest Investment Services now owns 99,921 shares of the financial services provider’s stock valued at $21,069,000 after acquiring an additional 8,805 shares during the last quarter. Cornerstone Wealth Group LLC boosted its stake in shares of JPMorgan Chase & Co. by 1.3% during the 3rd quarter. Cornerstone Wealth Group LLC now owns 60,444 shares of the financial services provider’s stock worth $12,745,000 after acquiring an additional 798 shares in the last quarter. Voisard Asset Management Group Inc. grew its holdings in shares of JPMorgan Chase & Co. by 3.5% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 5,068 shares of the financial services provider’s stock worth $1,069,000 after acquiring an additional 173 shares during the last quarter. Finally, Goldstone Financial Group LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth $3,931,000. 71.55% of the stock is 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. 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.