JPMorgan Chase & Co. (NYSE:JPM) Trading 2.9% Higher - Here's Why

JPMorgan Chase & Co. (NYSE:JPM)'s stock price shot up 2.9% during trading on Friday . The company traded as high as $231.57 and last traded at $231.73. 3,055,735 shares changed hands during trading, a decline of 65% from the average session volume of 8,845,787 shares. The stock had previously closed at $225.19.

Analysts Set New Price Targets

A number of research firms have recently commented on JPM. Barclays raised their target price 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. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Wolfe Research upgraded JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 price objective on the stock in a report on Friday, January 3rd. UBS Group lifted their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Finally, Oppenheimer cut JPMorgan Chase & Co. from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 20th. 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $252.89.

JPMorgan Chase & Co. Trading Up 3.4 %

The stock has a market cap of $651.31 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. 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's 50-day moving average price is $258.29 and its 200 day moving average price is $238.70.

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JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. The firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.04 EPS. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,273 shares of the business'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 value of $1,153,069.05. Following the sale, the chief operating officer now owns 54,469 shares of the company's stock, valued at $14,698,459.65. The trade was a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Stacey Friedman sold 3,303 shares of the company's stock in a transaction 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 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 disclosure for this sale can be found here. Insiders have sold a total of 46,326 shares of company stock valued at $12,448,445 over the last quarter. 0.79% of the stock is owned by company insiders.

Institutional Trading of JPMorgan Chase & Co.

A number of large investors have recently modified their holdings of the stock. DDD Partners LLC increased its position in shares of JPMorgan Chase & Co. by 2.8% during the fourth quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider's stock worth $339,000 after acquiring an additional 38 shares during the period. Blue Bell Private Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 1.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider's stock worth $622,000 after acquiring an additional 38 shares during the period. Rappaport Reiches Capital Management LLC increased its position in shares of JPMorgan Chase & Co. by 3.8% during the fourth quarter. Rappaport Reiches Capital Management LLC now owns 1,068 shares of the financial services provider's stock worth $256,000 after acquiring an additional 39 shares during the period. Yoder Wealth Management Inc. increased its position in shares of JPMorgan Chase & Co. by 2.8% during the fourth quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider's stock worth $344,000 after acquiring an additional 39 shares during the period. Finally, Almanack Investment Partners LLC. grew its stake in shares of JPMorgan Chase & Co. by 0.8% during the fourth quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider's stock worth $1,233,000 after purchasing an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Company Profile

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.