JPMorgan Chase & Co. (NYSE:JPM) Trading Down 1.6% After Insider Selling

JPMorgan Chase & Co. (NYSE:JPM) shares traded down 1.6% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $179.77 and last traded at $179.89. 4,443,416 shares were traded during trading, a decline of 52% from the average session volume of 9,254,145 shares. The stock had previously closed at $182.89.

Specifically, Vice Chairman Peter Scher sold 1,810 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $178.96, for a total transaction of $323,917.60. Following the sale, the insider now owns 44,956 shares of the company’s stock, valued at approximately $8,045,325.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,810 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $323,917.60. Following the sale, the insider now owns 44,956 shares of the company’s stock, valued at approximately $8,045,325.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ashley Bacon sold 3,368 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $179.00, for a total value of $602,872.00. Following the completion of the sale, the insider now directly owns 202,093 shares in the company, valued at approximately $36,174,647. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,020,696 shares of company stock valued at $186,794,151. 0.79% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Barclays lifted their target price on JPMorgan Chase & Co. from $186.00 to $212.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Royal Bank of Canada restated an “outperform” rating and set a $185.00 price objective on shares of JPMorgan Chase & Co. in a report on Wednesday, March 20th. Oppenheimer dropped their price objective on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a report on Monday. Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Finally, Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $182.00 to $195.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $192.05.

JPMorgan Chase & Co. Stock Down 1.7 %

The stock has a market cap of $516.55 billion, a PE ratio of 10.86, a P/E/G ratio of 2.32 and a beta of 1.15. The business has a 50 day moving average price of $188.28 and a 200 day moving average price of $168.17. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.29.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, January 12th. The financial services provider reported $3.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.69). The business had revenue of $38.57 billion for the quarter, compared to analysts’ expectations of $39.73 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.57 EPS. Equities research analysts expect that JPMorgan Chase & Co. will post 15.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.56%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.78%.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of hedge funds have recently made changes to their positions in JPM. Moneta Group Investment Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 105,652.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after purchasing an additional 97,907,897 shares during the last quarter. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $6,016,878,000. Morgan Stanley increased its holdings in shares of JPMorgan Chase & Co. by 15.9% in the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock valued at $7,918,506,000 after purchasing an additional 8,088,433 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $1,017,893,000. Finally, Legal & General Group Plc increased its holdings in shares of JPMorgan Chase & Co. by 24.9% in the fourth quarter. Legal & General Group Plc now owns 23,406,286 shares of the financial services provider’s stock valued at $3,981,428,000 after purchasing an additional 4,659,651 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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.