JPMorgan Chase & Co. (NYSE:JPM) Trading Down 1.1% on Analyst Downgrade

JPMorgan Chase & Co. (NYSE:JPM)’s share price traded down 1.1% during mid-day trading on Wednesday after UBS Group lowered their price target on the stock from $226.00 to $219.00. UBS Group currently has a buy rating on the stock. JPMorgan Chase & Co. traded as low as $179.65 and last traded at $180.80. 16,451,801 shares were traded during mid-day trading, an increase of 75% from the average session volume of 9,401,236 shares. The stock had previously closed at $182.89.

Several other equities research analysts have also weighed in on the stock. Jefferies Financial Group increased their price objective on shares of JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Evercore ISI increased their price objective on shares of JPMorgan Chase & Co. from $188.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Oppenheimer dropped their price objective on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research note on Monday. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $185.00 price objective on shares of JPMorgan Chase & Co. in a report on Wednesday, March 20th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $192.05.

Insiders Place Their Bets

In other news, CEO Jennifer Piepszak sold 1,648 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $294,926.08. Following the sale, the chief executive officer now directly owns 32,819 shares in the company, valued at approximately $5,873,288.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO James Dimon sold 178,222 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $184.18, for a total value of $32,824,927.96. Following the transaction, the chief executive officer now owns 264,461 shares in the company, valued at approximately $48,708,426.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jennifer Piepszak sold 1,648 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $178.96, for a total transaction of $294,926.08. Following the sale, the chief executive officer now owns 32,819 shares of the company’s stock, valued at approximately $5,873,288.24. The disclosure for this sale can be found here. Insiders have sold 1,020,696 shares of company stock worth $186,794,151 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of JPMorgan Chase & Co.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Moneta Group Investment Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 105,652.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after buying an additional 97,907,897 shares during the last quarter. Norges Bank purchased a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $6,016,878,000. Morgan Stanley raised its stake in JPMorgan Chase & Co. by 15.9% in the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock valued at $7,918,506,000 after purchasing an additional 8,088,433 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $1,017,893,000. Finally, Legal & General Group Plc raised its stake in shares of JPMorgan Chase & Co. by 24.9% during the fourth quarter. Legal & General Group Plc now owns 23,406,286 shares of the financial services provider’s stock worth $3,981,428,000 after acquiring an additional 4,659,651 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

The stock has a market capitalization of $516.86 billion, a PE ratio of 10.87, a P/E/G ratio of 2.30 and a beta of 1.15. The firm’s 50 day simple moving average is $188.48 and its 200 day simple moving average is $168.50. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.91.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, April 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s payout ratio is 27.78%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.