JPMorgan Chase & Co. (NYSE:JPM) Trading Up 2.2% After Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM) shares were up 2.2% on Tuesday after Morgan Stanley raised their price target on the stock from $221.00 to $226.00. Morgan Stanley currently has an overweight rating on the stock. JPMorgan Chase & Co. traded as high as $215.79 and last traded at $215.57. Approximately 2,560,304 shares traded hands during trading, a decline of 72% from the average daily volume of 9,174,616 shares. The stock had previously closed at $210.85.

JPM has been the subject of several other research reports. Barclays lifted their price objective on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Evercore ISI boosted their price target on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Finally, UBS Group raised their price target on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $203.17.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO Mary E. Erdoes sold 15,895 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $193.66, for a total transaction of $3,078,225.70. Following the sale, the chief executive officer now owns 585,898 shares of the company’s stock, valued at $113,465,006.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other JPMorgan Chase & Co. news, CEO Mary E. Erdoes sold 15,895 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $193.66, for a total value of $3,078,225.70. Following the completion of the transaction, the chief executive officer now directly owns 585,898 shares in the company, valued at $113,465,006.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Elena A. Korablina sold 21,829 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $190.91, for a total value of $4,167,374.39. Following the sale, the insider now owns 6,484 shares in the company, valued at $1,237,860.44. The disclosure for this sale can be found here. Insiders sold a total of 72,343 shares of company stock valued at $14,137,789 in the last quarter. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently added to or reduced their stakes in JPM. Stone House Investment Management LLC lifted its holdings in JPMorgan Chase & Co. by 132.8% during the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after buying an additional 89 shares during the period. Retirement Group LLC lifted its stake in shares of JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares during the period. Richardson Capital Management LLC bought a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $34,000. Davidson Capital Management Inc. acquired a new stake in JPMorgan Chase & Co. during the 1st quarter valued at approximately $37,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in JPMorgan Chase & Co. during the 1st quarter valued at approximately $40,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Up 2.2 %

The stock has a market cap of $619.05 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 2.49 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.91. The firm’s fifty day simple moving average is $202.69 and its 200-day simple moving average is $192.18.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same quarter last year, the firm earned $4.37 earnings per share. Equities research analysts expect that JPMorgan Chase & Co. will post 16.67 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.66%.

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.