JPMorgan Chase & Co. (NYSE:JPM) Downgraded by StockNews.com to Sell

StockNews.com cut shares of JPMorgan Chase & Co. (NYSE:JPM) from a hold rating to a sell rating in a report published on Wednesday.

JPM has been the subject of several other reports. Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $203.00 to $209.00 and gave the stock a market perform rating in a report on Tuesday, May 21st. Oppenheimer cut their price target on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an outperform rating for the company in a report on Monday, April 15th. UBS Group raised their price target on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a buy rating in a report on Tuesday, May 21st. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an overweight rating in a report on Tuesday, May 21st. Finally, 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 report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of Moderate Buy and a consensus price target of $194.10.

JPMorgan Chase & Co. Stock Up 1.0 %

JPM opened at $197.00 on Wednesday. The company has a 50 day moving average of $194.86 and a 200 day moving average of $184.12. The company has a market cap of $565.72 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $205.88. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, topping the consensus estimate of $4.18 by $0.45. The company had revenue of $41.93 billion during the quarter, compared to the consensus estimate of $40.90 billion. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 16.41 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is presently 27.78%.

Insider Buying and Selling

In related news, CEO James Dimon sold 178,222 shares of JPMorgan Chase & Co. stock in a transaction 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 SEC, which is available through the SEC website. In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,415 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.65, for a total value of $885,869.75. Following the transaction, the general counsel now owns 42,124 shares in the company, valued at $8,452,180.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Dimon sold 178,222 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the completion of the transaction, the chief executive officer now owns 264,461 shares in the company, valued at approximately $48,708,426.98. The disclosure for this sale can be found here. Insiders have sold a total of 254,485 shares of company stock worth $47,728,528 in the last 90 days. 0.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of hedge funds have recently modified their holdings of the company. Chelsea Counsel Co. increased its position in shares of JPMorgan Chase & Co. by 3.6% in the first quarter. Chelsea Counsel Co. now owns 2,092 shares of the financial services provider’s stock valued at $419,000 after acquiring an additional 73 shares during the period. SRN Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 9.8% in the first quarter. SRN Advisors LLC now owns 8,386 shares of the financial services provider’s stock valued at $1,680,000 after acquiring an additional 748 shares during the period. NBW Capital LLC boosted its stake in shares of JPMorgan Chase & Co. by 2.7% during the 1st quarter. NBW Capital LLC now owns 52,315 shares of the financial services provider’s stock valued at $10,479,000 after purchasing an additional 1,351 shares in the last quarter. Keynote Financial Services LLC bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at about $1,309,000. Finally, Mosaic Family Wealth Partners LLC boosted its stake in shares of JPMorgan Chase & Co. by 11.9% during the 1st quarter. Mosaic Family Wealth Partners LLC now owns 6,832 shares of the financial services provider’s stock valued at $1,368,000 after purchasing an additional 724 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

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.