Traders Buy JPMorgan Chase & Co. (JPM) on Weakness
Traders bought shares of JPMorgan Chase & Co. (NYSE:JPM) on weakness during trading on Monday. $422.18 million flowed into the stock on the tick-up and $291.17 million flowed out of the stock on the tick-down, for a money net flow of $131.01 million into the stock. Of all stocks tracked, JPMorgan Chase & Co. had the 4th highest net in-flow for the day. JPMorgan Chase & Co. traded down ($1.27) for the day and closed at $109.94
Several brokerages have recently commented on JPM. Daiwa Capital Markets lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Friday, February 8th. Barclays increased their price objective on JPMorgan Chase & Co. from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, January 2nd. Zacks Investment Research lowered JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Wednesday, December 19th. Wells Fargo & Co reiterated a “buy jpm” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, December 20th. Finally, Atlantic Securities lowered JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report on Wednesday, December 19th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $123.05.
The firm has a market cap of $381.67 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.65 and a beta of 1.11. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.00 and a quick ratio of 1.00.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.91%. The ex-dividend date is Thursday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 35.56%.
In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,831 shares of the stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $102.78, for a total value of $599,310.18. Following the completion of the sale, the insider now owns 98,838 shares in the company, valued at approximately $10,158,569.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Douglas B. Petno sold 11,659 shares of the stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $105.00, for a total value of $1,224,195.00. The disclosure for this sale can be found here. Insiders have sold a total of 39,191 shares of company stock valued at $4,102,110 over the last 90 days. 0.73% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund lifted its stake in shares of JPMorgan Chase & Co. by 5,338.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 39,471,964 shares of the financial services provider’s stock valued at $404,000 after purchasing an additional 38,746,167 shares during the period. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $2,986,672,000. American International Group Inc. lifted its stake in shares of JPMorgan Chase & Co. by 314.9% in the 4th quarter. American International Group Inc. now owns 4,882,121 shares of the financial services provider’s stock valued at $476,593,000 after purchasing an additional 3,705,536 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of JPMorgan Chase & Co. by 5,555.9% in the 3rd quarter. Rehmann Capital Advisory Group now owns 2,352,612 shares of the financial services provider’s stock valued at $11,266,384,000 after purchasing an additional 2,311,016 shares during the period. Finally, Royal London Asset Management Ltd. purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $182,400,000. Institutional investors and hedge funds own 69.88% of the company’s stock.
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JPMorgan Chase & Co. Company Profile (NYSE:JPM)
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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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