JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 0.6% - Here's Why

JPMorgan Chase & Co. (NYSE:JPM) shot up 0.6% during mid-day trading on Tuesday . The stock traded as high as $269.84 and last traded at $268.30. 1,189,036 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 9,956,921 shares. The stock had previously closed at $266.81.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on JPM shares. Evercore ISI lifted their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Thursday, November 7th. Daiwa Capital Markets cut their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an "overweight" rating on the stock in a research note on Thursday, October 10th. Truist Financial increased their target price on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. Finally, Barclays boosted their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $251.78.

JPMorgan Chase & Co. Trading Up 0.3 %

The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The firm has a 50 day moving average price of $248.25 and a 200 day moving average price of $228.90. The stock has a market capitalization of $753.55 billion, a PE ratio of 13.56, a P/E/G ratio of 2.87 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its 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. 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 prior year, the company posted $3.04 earnings per share. The firm's revenue for the quarter was up 10.9% on a year-over-year basis. Equities analysts expect that JPMorgan Chase & Co. will post 17.82 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were paid a $1.25 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.87%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 25.33%.

Insider Transactions at JPMorgan Chase & Co.

In other news, 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 transaction of $838,763.82. Following the transaction, the general counsel now owns 47,620 shares of the company's stock, valued at $12,092,622.80. This represents a 6.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.79% of the company's stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the third quarter worth about $1,888,088,000. Fisher Asset Management LLC lifted its stake in JPMorgan Chase & Co. by 31.7% in the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider's stock worth $3,539,132,000 after purchasing an additional 4,043,841 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in JPMorgan Chase & Co. by 137.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider's stock valued at $922,760,000 after purchasing an additional 2,535,590 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in shares of JPMorgan Chase & Co. by 93.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider's stock valued at $567,669,000 after purchasing an additional 1,301,764 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of JPMorgan Chase & Co. by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider's stock valued at $3,338,955,000 after purchasing an additional 1,016,289 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

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.

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