JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 1.3% – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM) fell 1.3% during trading on Monday . The company traded as low as $308.54 and last traded at $308.8920. 7,259,375 shares were traded during trading, a decline of 22% from the average session volume of 9,324,862 shares. The stock had previously closed at $313.08.

Analyst Ratings Changes

Several brokerages have commented on JPM. Wolfe Research raised their target price on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Deutsche Bank Aktiengesellschaft boosted their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a research note on Tuesday, September 30th. The Goldman Sachs Group reiterated a “buy” rating and issued a $366.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, October 14th. Zacks Research lowered shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Fifteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $326.38.

JPMorgan Chase & Co. Trading Up 1.4%

The business’s 50-day moving average price is $306.73 and its 200 day moving average price is $294.02. The company has a market cap of $849.54 billion, a P/E ratio of 15.46, a P/E/G ratio of 1.60 and a beta of 1.08. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company had revenue of $47.12 billion for the quarter, compared to analysts’ expectations of $44.42 billion. During the same period in the prior year, the firm earned $4.37 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were given a $1.50 dividend. The ex-dividend date of this dividend was Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 966 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the transaction, the insider directly owned 58,479 shares of the company’s stock, valued at approximately $18,240,769.68. The trade was a 1.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC lifted its position in JPMorgan Chase & Co. by 609,867.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock worth $21,133,630,000 after acquiring an additional 72,885,260 shares during the last quarter. Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the second quarter worth approximately $10,295,209,000. Laurel Wealth Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 28,813.7% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 16,785,584 shares of the financial services provider’s stock worth $4,866,309,000 after purchasing an additional 16,727,530 shares during the last quarter. Nuveen LLC acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $3,972,807,000. Finally, Danske Bank A S bought a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at $696,885,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Company Profile

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.