JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 6.2% on Analyst Downgrade

JPMorgan Chase & Co. (NYSE:JPM) shares fell 6.2% during mid-day trading on Friday after Truist Financial lowered their price target on the stock from $268.00 to $264.00. Truist Financial currently has a hold rating on the stock. JPMorgan Chase & Co. traded as low as $208.93 and last traded at $213.25. Approximately 7,417,186 shares changed hands during trading, a decline of 21% from the average session volume of 9,395,231 shares. The stock had previously closed at $227.29.

A number of other research firms have also commented on JPM. Evercore ISI cut their price objective on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. Barclays increased their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a report on Friday, January 3rd. Finally, Bank of America dropped their price objective on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $254.83.

Insiders Place Their Bets

In related news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the sale, the general counsel now directly owns 47,620 shares in the company, valued at $12,092,622.80. This represents a 6.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $247.02, for a total value of $6,175,500.00. Following the completion of the transaction, the chief executive officer now directly owns 133,381 shares in the company, valued at $32,947,774.62. This trade represents a 15.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,848 shares of company stock valued at $19,987,908. 0.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quent Capital LLC boosted its holdings in shares of JPMorgan Chase & Co. by 2.0% during the first quarter. Quent Capital LLC now owns 13,224 shares of the financial services provider’s stock worth $3,244,000 after purchasing an additional 261 shares during the period. Sage Capital Advisors llc raised its position in JPMorgan Chase & Co. by 4.4% during the 1st quarter. Sage Capital Advisors llc now owns 2,026 shares of the financial services provider’s stock valued at $497,000 after purchasing an additional 86 shares during the last quarter. Agate Pass Investment Management LLC lifted its holdings in JPMorgan Chase & Co. by 9.2% in the 1st quarter. Agate Pass Investment Management LLC now owns 27,599 shares of the financial services provider’s stock worth $6,770,000 after buying an additional 2,315 shares during the period. Versant Capital Management Inc grew its position in shares of JPMorgan Chase & Co. by 92.5% in the 1st quarter. Versant Capital Management Inc now owns 7,310 shares of the financial services provider’s stock worth $1,793,000 after buying an additional 3,513 shares during the last quarter. Finally, Legacy Wealth Management LLC MS increased its stake in shares of JPMorgan Chase & Co. by 1.2% during the first quarter. Legacy Wealth Management LLC MS now owns 13,043 shares of the financial services provider’s stock valued at $3,199,000 after buying an additional 150 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 8.1 %

The company has a 50 day moving average price of $254.71 and a 200-day moving average price of $241.51. The stock has a market capitalization of $587.43 billion, a PE ratio of 10.64, a PEG ratio of 2.83 and a beta of 1.01. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data 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 net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. During the same period in the previous year, the firm earned $3.04 EPS. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a yield of 2.67%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.37%.

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.