JPMorgan Chase & Co. (NYSE:JPM) Trading Down 4.8% – Here’s What Happened

JPMorgan Chase & Co. (NYSE:JPM)’s share price traded down 4.8% during mid-day trading on Tuesday . The stock traded as low as $300.02 and last traded at $300.2260. 17,747,380 shares traded hands during mid-day trading, an increase of 90% from the average session volume of 9,330,622 shares. The stock had previously closed at $315.21.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. UBS Group lifted their target price on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Morgan Stanley set a $331.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday. Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, October 21st. Finally, KGI Securities lifted their price objective on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Fifteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $325.48.

JPMorgan Chase & Co. Stock Performance

The firm has a market cap of $863.77 billion, a price-to-earnings ratio of 15.72, a price-to-earnings-growth ratio of 1.61 and a beta of 1.08. The firm’s 50 day moving average is $306.59 and its 200-day moving average is $296.00. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.86 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The company had revenue of $47.12 billion for the quarter, compared to analyst estimates of $44.42 billion. During the same period last year, the company earned $4.37 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Tuesday, January 6th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, January 6th. JPMorgan Chase & Co.’s payout ratio is 29.72%.

Insider Transactions at JPMorgan Chase & Co.

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

Institutional Trading of JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently modified their holdings of the company. Harbor Asset Planning Inc. bought a new position in shares of JPMorgan Chase & Co. in the second quarter worth about $26,000. Mizuho Securities Co. Ltd. grew its holdings in JPMorgan Chase & Co. by 450.0% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock valued at $32,000 after buying an additional 90 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new position in JPMorgan Chase & Co. in the 3rd quarter worth approximately $32,000. Family Legacy Financial Solutions LLC increased its position in JPMorgan Chase & Co. by 92.6% in the 3rd quarter. Family Legacy Financial Solutions LLC now owns 104 shares of the financial services provider’s stock worth $33,000 after buying an additional 50 shares during the period. Finally, Turning Point Benefit Group Inc. acquired a new position in shares of JPMorgan Chase & Co. during the third quarter worth approximately $35,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Company Profile

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.