JPMorgan Chase & Co. (NYSE:JPM) Price Target Cut to $214.00

JPMorgan Chase & Co. (NYSE:JPM) had its target price lowered by Morgan Stanley from $216.00 to $214.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

A number of other research firms have also recently commented on JPM. Evercore ISI raised their price target on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an outperform rating in a report on Thursday, April 4th. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $203.00 to $209.00 and gave the company a market perform rating in a research report on Tuesday. UBS Group cut their price objective on JPMorgan Chase & Co. from $226.00 to $219.00 and set a buy rating for the company in a research report on Tuesday, April 16th. Robert W. Baird raised their price objective on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a neutral rating in a research report on Tuesday. Finally, The Goldman Sachs Group reiterated a buy rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of Moderate Buy and a consensus target price of $194.10.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $196.92 on Tuesday. JPMorgan Chase & Co. has a one year low of $134.40 and a one year high of $205.88. The stock’s fifty day moving average is $194.50 and its 200 day moving average is $177.66. The stock has a market cap of $565.49 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.75 and a beta of 1.13. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.92 and a current ratio of 0.92.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. The business had revenue of $41.93 billion for the quarter, compared to analysts’ expectations of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.31 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.78%.

Insider Activity

In other news, General Counsel Stacey Friedman sold 4,415 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the completion of the sale, the general counsel now owns 42,124 shares of the company’s stock, valued at $8,452,180.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, General Counsel Stacey Friedman sold 4,415 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.65, for a total value of $885,869.75. Following the completion of the transaction, the general counsel now owns 42,124 shares of the company’s stock, valued at $8,452,180.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robin Leopold sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $198.86, for a total transaction of $596,580.00. Following the completion of the transaction, the insider now directly owns 44,113 shares of the company’s stock, valued at approximately $8,772,311.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 249,399 shares of company stock valued at $46,713,667. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of large investors have recently bought and sold shares of JPM. Morgan Stanley grew its holdings in JPMorgan Chase & Co. by 0.3% in the third quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider’s stock worth $9,127,754,000 after purchasing an additional 201,441 shares during the last quarter. FMR LLC grew its holdings in JPMorgan Chase & Co. by 1.2% in the third quarter. FMR LLC now owns 49,417,639 shares of the financial services provider’s stock worth $7,166,546,000 after purchasing an additional 606,382 shares during the last quarter. Wellington Management Group LLP grew its holdings in JPMorgan Chase & Co. by 12.2% in the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock worth $6,151,997,000 after purchasing an additional 4,603,090 shares during the last quarter. Capital International Investors grew its holdings in JPMorgan Chase & Co. by 1.9% in the first quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after purchasing an additional 778,297 shares during the last quarter. Finally, Norges Bank purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth $6,016,878,000. Institutional investors own 71.55% of the company’s stock.

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.