JPMorgan Chase & Co. (NYSE:JPM) Shares Up 1.4% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM)’s stock price was up 1.4% on Wednesday . The company traded as high as $312.36 and last traded at $312.0720. Approximately 7,337,563 shares were traded during trading, a decline of 21% from the average daily volume of 9,309,249 shares. The stock had previously closed at $307.88.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on JPM shares. Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Daiwa Capital Markets raised their price target on shares of JPMorgan Chase & Co. from $330.00 to $332.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. KGI Securities boosted their price objective on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Morgan Stanley increased their target price on JPMorgan Chase & Co. from $336.00 to $338.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Finally, Loop Capital set a $310.00 target price on JPMorgan Chase & Co. in a report on Thursday, October 23rd. Fifteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $325.81.

JPMorgan Chase & Co. Price Performance

The firm has a 50 day moving average price of $306.73 and a 200 day moving average price of $294.65. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The stock has a market cap of $858.06 billion, a P/E ratio of 15.61, a P/E/G ratio of 1.64 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. The company had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.37 EPS. On average, analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were issued a $1.50 dividend. The ex-dividend date of this dividend was Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 1.9%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is currently 29.72%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $311.92, for a total transaction of $301,314.72. Following the sale, the insider directly owned 58,479 shares of the company’s stock, valued at $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.47% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of hedge funds have recently made changes to their positions in the company. Mosaic Financial Group LLC lifted its position in JPMorgan Chase & Co. by 0.8% in the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after buying an additional 78 shares in the last quarter. Creative Planning grew its holdings in shares of JPMorgan Chase & Co. by 2.2% during the 2nd quarter. Creative Planning now owns 1,364,887 shares of the financial services provider’s stock valued at $395,695,000 after acquiring an additional 29,844 shares in the last quarter. Aviva PLC increased its stake in shares of JPMorgan Chase & Co. by 6.0% in the second quarter. Aviva PLC now owns 2,232,458 shares of the financial services provider’s stock worth $647,212,000 after acquiring an additional 126,742 shares during the last quarter. Kelman Lazarov Inc. raised its holdings in shares of JPMorgan Chase & Co. by 16.9% during the second quarter. Kelman Lazarov Inc. now owns 1,257 shares of the financial services provider’s stock worth $364,000 after acquiring an additional 182 shares in the last quarter. Finally, Gladwyn Financial Advisors Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the second quarter worth $534,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.