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

JPMorgan Chase & Co. (NYSE:JPM)’s stock price dropped 1.3% on Tuesday . The company traded as low as $227.52 and last traded at $229.29. Approximately 3,791,375 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 8,730,679 shares. The stock had previously closed at $232.22.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods upped 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 report on Thursday, January 16th. Oppenheimer lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Citigroup boosted their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $215.00 to $220.00 in a report on Friday, March 7th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $252.89.

JPMorgan Chase & Co. Stock Down 1.6 %

The business has a 50-day simple moving average of $258.81 and a 200-day simple moving average of $238.70. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The company has a market cap of $627.21 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping 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 company had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. During the same quarter in the previous year, the firm earned $3.04 earnings per share. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Transactions at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 4,273 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 54,469 shares in the company, valued at $14,698,459.65. This trade represents a 7.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the transaction, the insider now directly owns 50,377 shares in the company, valued at approximately $13,606,323.93. This trade represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,326 shares of company stock valued at $12,448,445. 0.79% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of hedge funds have recently modified their holdings of JPM. Mizuho Securities Co. Ltd. acquired a new position in JPMorgan Chase & Co. in the third quarter valued at $25,000. Redwood Park Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $29,000. Sellwood Investment Partners LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $34,000. Investment Counsel Co. of Nevada purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at approximately $37,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $43,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

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.