Brokerages Set JPMorgan Chase & Co. (NYSE:JPM) Target Price at $359.96

JPMorgan Chase & Co. (NYSE:JPM) has been assigned an average recommendation of “Moderate Buy” from the twenty-eight research firms that are currently covering the company, MarketBeat reports. Eleven investment analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $359.9583.

Several brokerages recently issued reports on JPM. Robert W. Baird raised their target price on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Morgan Stanley reiterated a “positive” rating and issued a $370.00 price target on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 15th. Citigroup increased their price target on JPMorgan Chase & Co. from $325.00 to $360.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $370.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Finally, Jefferies Financial Group set a $350.00 price objective on JPMorgan Chase & Co. in a research note on Tuesday, July 14th.

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 5,467 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total value of $1,808,100.91. Following the sale, the general counsel directly owned 40,961 shares of the company’s stock, valued at approximately $13,547,031.53. This represents a 11.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total transaction of $882,025.00. Following the completion of the sale, the insider directly owned 71,047 shares in the company, valued at approximately $25,066,092.07. This represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,467 shares of company stock worth $3,593,651 in the last 90 days. Corporate insiders own 0.41% of the company’s stock.

Institutional Trading of JPMorgan Chase & Co.

Large investors have recently bought and sold shares of the business. Brighton Jones LLC increased its stake in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after purchasing an additional 4,841 shares in the last quarter. Acorns Advisers LLC raised its holdings in shares of JPMorgan Chase & Co. by 6.9% in the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after acquiring an additional 100 shares during the last quarter. Ignite Planners LLC lifted its position in JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider’s stock valued at $3,185,000 after acquiring an additional 78 shares in the last quarter. Jump Financial LLC bought a new position in JPMorgan Chase & Co. in the 2nd quarter valued at about $1,475,000. Finally, Betterment LLC increased its holdings in JPMorgan Chase & Co. by 27.5% during the 2nd quarter. Betterment LLC now owns 1,970 shares of the financial services provider’s stock worth $571,000 after purchasing an additional 425 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

More JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan’s profitability and capital-return capacity remain major supports. Recent coverage highlighted approximately $16.9 billion in quarterly profit, with dividends consuming only a portion of earnings, leaving room for reinvestment, buybacks and future distributions. JPMorgan earnings and dividend coverage
• Positive Sentiment: The bank is expanding its European corporate-banking operations, including a reported 25% staffing increase and a push into Greece. The strategy could create additional lending, payments, investment-banking and cross-selling revenue over time. JPMorgan Greece expansion
• Positive Sentiment: Wall Street sentiment remains constructive, with JPMorgan described as a well-capitalized bank trading at an attractive valuation relative to its earnings, scale and exposure to investment banking, asset management and higher interest rates. The average analyst rating is “Moderate Buy.” JPMorgan analyst sentiment
• Neutral Sentiment: Insider Robin Leopold sold 2,500 shares for approximately $882,000 under a pre-arranged Rule 10b5-1 trading plan. The sale reduced her direct holdings by 3.4%, but its planned nature makes it a limited signal about management’s outlook. JPMorgan insider transaction
• Negative Sentiment: JPMorgan strategists warned that the equity risk premium has fallen to its lowest level since 2002. The unusually narrow compensation for owning stocks instead of bonds could limit broad market upside and increase sensitivity to disappointing economic or earnings news. JPMorgan equity risk premium warning
• Negative Sentiment: The bank’s decision to contest pressure from the Trump administration may protect its independence but could bring additional litigation, regulatory and political costs. JPMorgan political and legal risks

JPMorgan Chase & Co. Trading Up 0.9%

NYSE JPM opened at $356.77 on Monday. The company has a market cap of $948.37 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 1.45 and a beta of 0.98. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $366.50. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. The business’s fifty day moving average is $352.26 and its 200 day moving average is $322.11.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, beating the consensus estimate of $5.59 by $0.55. The firm had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $50.72 billion. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business’s quarterly revenue was up 27.7% on a year-over-year basis. During the same period last year, the company earned $4.96 earnings per share. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 24.3 EPS for the current fiscal year.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, lending, payments, investment banking, asset management and wealth management services to consumers, businesses, institutional clients and governments.

The company operates through four primary business areas: Consumer & Community Banking; Commercial & Investment Banking; Asset & Wealth Management; and Corporate. Its offerings include deposit accounts, credit cards, mortgages, auto loans, business banking, commercial lending, treasury services, investment banking, securities trading, investment management and private banking.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across numerous international markets.