JPMorgan Chase & Co. (JPM) Rating Reiterated by Barclays PLC
JPMorgan Chase & Co. (NYSE:JPM)‘s stock had its “overweight” rating reissued by analysts at Barclays PLC in a research report issued on Wednesday. They presently have a $79.00 price target on the financial services provider’s stock. Barclays PLC’s price objective points to a potential upside of 15.95% from the company’s current price.
JPM has been the subject of several other reports. Credit Agricole SA lifted their price objective on JPMorgan Chase & Co. from $71.00 to $79.00 and gave the stock a “buy” rating in a report on Friday, September 23rd. Zacks Investment Research cut JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a report on Tuesday, September 20th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, September 27th. Nomura reaffirmed a “hold” rating and set a $65.00 price objective on shares of JPMorgan Chase & Co. in a report on Thursday, September 29th. Finally, Sandler O’Neill downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $72.00 price target for the company. in a research report on Thursday, October 6th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have issued a buy rating to the stock. JPMorgan Chase & Co. currently has an average rating of “Buy” and a consensus target price of $72.25.
Shares of JPMorgan Chase & Co. (NYSE:JPM) traded down 0.26% during trading on Wednesday, hitting $68.13. The stock had a trading volume of 11,899,831 shares. The stock’s 50 day moving average is $66.94 and its 200-day moving average is $63.93. JPMorgan Chase & Co. has a 12-month low of $52.50 and a 12-month high of $69.06. The company has a market cap of $246.05 billion, a PE ratio of 11.55 and a beta of 1.54.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Thursday, October 6th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Tuesday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 32.54%.
In related news, COO Matthew E. Zames sold 3,991 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $63.91, for a total value of $255,064.81. Following the completion of the transaction, the chief operating officer now directly owns 282,287 shares of the company’s stock, valued at approximately $18,040,962.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gordon Smith sold 23,735 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $64.05, for a total value of $1,520,226.75. Following the completion of the transaction, the executive vice president now directly owns 152,462 shares of the company’s stock, valued at $9,765,191.10. The disclosure for this sale can be found here. 0.85% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Emerald Acquisition Ltd. acquired a new position in shares of JPMorgan Chase & Co. during the second quarter worth about $546,431,000. Primecap Management Co. CA increased its stake in JPMorgan Chase & Co. by 43.5% in the first quarter. Primecap Management Co. CA now owns 20,518,581 shares of the financial services provider’s stock worth $1,215,110,000 after buying an additional 6,218,550 shares during the period. Franklin Resources Inc. increased its stake in JPMorgan Chase & Co. by 15.6% in the first quarter. Franklin Resources Inc. now owns 42,060,882 shares of the financial services provider’s stock worth $2,490,856,000 after buying an additional 5,685,864 shares during the period. Vanguard Group Inc. increased its stake in JPMorgan Chase & Co. by 2.1% in the second quarter. Vanguard Group Inc. now owns 229,636,598 shares of the financial services provider’s stock worth $14,269,618,000 after buying an additional 4,692,609 shares during the period. Finally, Winslow Capital Management LLC purchased a new stake in JPMorgan Chase & Co. during the second quarter worth $221,862,000. 73.34% of the stock is owned by institutional investors and hedge funds.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment serves consumers and businesses through personal service at bank branches and through automatic teller machines, online, mobile and telephone banking.
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