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

JPMorgan Chase & Co. (NYSE:JPM)’s share price fell 1.3% during trading on Monday . The stock 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.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Loop Capital set a $310.00 price target on JPMorgan Chase & Co. in a report on Thursday, October 23rd. Wolfe Research upped their target price on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $345.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Evercore ISI boosted their price objective on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Finally, DZ Bank reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, October 15th. Fifteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $326.38.

JPMorgan Chase & Co. Stock Down 1.3%

The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. The stock has a market capitalization of $840.88 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.84 and a beta of 1.14. The firm’s fifty day moving average is $306.89 and its 200-day moving average is $293.45.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.83 by $0.24. The company had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.37 EPS. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were paid a dividend of $1.50 per share. The ex-dividend date was Monday, October 6th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

Insider Activity at JPMorgan Chase & Co.

In other 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 value of $301,314.72. Following the completion of the sale, the insider directly owned 58,479 shares in the company, valued at approximately $18,240,769.68. The trade was a 1.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of JPM. Kingstone Capital Partners Texas LLC boosted its position in JPMorgan Chase & Co. by 609,867.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after purchasing an additional 72,885,260 shares during the period. Geode Capital Management LLC lifted its stake in JPMorgan Chase & Co. by 0.5% in the second quarter. Geode Capital Management LLC now owns 61,129,271 shares of the financial services provider’s stock valued at $17,646,506,000 after buying an additional 300,160 shares during the last quarter. Norges Bank bought a new stake in JPMorgan Chase & Co. in the second quarter valued at $10,295,209,000. Goldman Sachs Group Inc. grew its position in JPMorgan Chase & Co. by 2.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider’s stock worth $5,040,469,000 after purchasing an additional 548,853 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in JPMorgan Chase & Co. by 3.3% during the 3rd quarter. Legal & General Group Plc now owns 18,908,978 shares of the financial services provider’s stock valued at $5,964,459,000 after acquiring an additional 607,025 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

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.