JPMorgan Chase & Co. (NYSE:JPM) Trading Down 7.2% on Analyst Downgrade

JPMorgan Chase & Co. (NYSE:JPM) fell 7.2% during trading on Thursday 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 $227.30 and last traded at $228.09. 6,237,244 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 9,356,802 shares. The stock had previously closed at $245.82.

A number of other research analysts have also commented on the stock. UBS Group boosted their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Robert W. Baird upgraded JPMorgan Chase & Co. from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $215.00 to $220.00 in a research report on Friday, March 7th. Baird R W raised JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. Barclays lifted their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Finally, Bank of America decreased their price objective on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Ten 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. presently has a consensus rating of "Moderate Buy" and an average target price of $254.83.

Insider Activity

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares in the company, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. 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 stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 158,381 shares of the company's stock, valued at approximately $42,737,529.04. This trade represents a 19.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,848 shares of company stock valued at $19,987,908. 0.79% of the stock is currently owned by insiders.

Institutional Investors 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 company. Disciplined Investments LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at $217,000. LGT Group Foundation increased its position in shares of JPMorgan Chase & Co. by 2.8% during the fourth quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider's stock valued at $126,040,000 after buying an additional 14,300 shares during the period. Kinsale Capital Group Inc. lifted its holdings in JPMorgan Chase & Co. by 11.1% in the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider's stock worth $10,483,000 after buying an additional 4,375 shares during the period. Jag Capital Management LLC lifted its holdings in JPMorgan Chase & Co. by 10.5% in the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider's stock worth $353,000 after buying an additional 140 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in JPMorgan Chase & Co. by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider's stock valued at $938,491,000 after acquiring an additional 319,730 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Price Performance

The stock has a market cap of $588.52 billion, a PE ratio of 10.66, a P/E/G ratio of 2.83 and a beta of 1.01. The business has a fifty day simple moving average of $254.71 and a two-hundred day simple moving average of $241.75. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.03 by $0.78. The company had revenue of $42.77 billion for the quarter, compared to analysts' expectations of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm's revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.04 earnings per share. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be given a dividend of $1.40 per share. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.37%.

About JPMorgan Chase & Co.

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.