JPMorgan Chase & Co. (NYSE:JPM) Stock Price Down 1.1% After Analyst Downgrade

JPMorgan Chase & Co. (NYSE:JPM)’s stock price fell 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 changed hands during trading, an increase of 75% from the average session volume of 9,401,236 shares. The stock had previously closed at $182.89.

A number of other analysts have also issued reports on JPM. Morgan Stanley cut their price target on shares of JPMorgan Chase & Co. from $221.00 to $216.00 and set an “overweight” rating on the stock in a research note on Monday. Royal Bank of Canada restated an “outperform” rating and set a $185.00 target price on shares of JPMorgan Chase & Co. in a research note on Wednesday, March 20th. Jefferies Financial Group upped their target price 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. The Goldman Sachs Group restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, February 1st. Finally, Piper Sandler cut their target price on shares of JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Monday. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $192.05.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, CEO Jennifer Piepszak sold 1,648 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $294,926.08. Following the completion of the sale, the chief executive officer now directly owns 32,819 shares of the company’s stock, valued at $5,873,288.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Jennifer Piepszak sold 1,648 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $294,926.08. Following the completion of the sale, the chief executive officer now directly owns 32,819 shares of the company’s stock, valued at $5,873,288.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Peter Scher sold 1,810 shares of the 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 $323,917.60. Following the completion of the sale, the insider now directly owns 44,956 shares of the company’s stock, valued at $8,045,325.76. 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 three months. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several hedge funds have recently modified their holdings of the stock. Moneta Group Investment Advisors LLC grew its position in 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 valued at $13,141,876,000 after buying an additional 97,907,897 shares during the last quarter. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth $6,016,878,000. Morgan Stanley boosted its holdings in shares of 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 acquiring an additional 8,088,433 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $1,017,893,000. Finally, Legal & General Group Plc boosted its holdings in shares of JPMorgan Chase & Co. by 24.9% in the fourth quarter. Legal & General Group Plc now owns 23,406,286 shares of the financial services provider’s stock valued at $3,981,428,000 after acquiring an additional 4,659,651 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Down 1.1 %

The firm has a market cap of $519.27 billion, a PE ratio of 10.92, a P/E/G ratio of 2.30 and a beta of 1.15. The company’s fifty day moving average price is $188.39 and its two-hundred day moving average price is $168.42. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.29.

JPMorgan Chase & Co. Increases Dividend

The company 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 $1.15 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $4.60 annualized dividend and a dividend yield of 2.54%. JPMorgan Chase & Co.’s payout ratio is presently 27.78%.

JPMorgan Chase & Co. Company Profile

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.