ValuEngine Downgrades JPMorgan Chase & Co. (NYSE:JPM) to Sell

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JPMorgan Chase & Co. (NYSE:JPM) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, ValuEngine reports.

Other analysts have also issued research reports about the company. BMO Capital Markets raised their target price on JPMorgan Chase & Co. from $116.00 to $118.00 and gave the company a “market perform” rating in a report on Monday, April 15th. Morgan Stanley raised their target price on JPMorgan Chase & Co. from $124.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $120.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 16th. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $117.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, July 22nd. Finally, Deutsche Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average price target of $122.94.

JPM opened at $108.03 on Thursday. The firm has a market cap of $355.44 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 1.58 and a beta of 1.16. The firm has a 50 day simple moving average of $113.00. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.97 and a quick ratio of 1.00. JPMorgan Chase & Co. has a 12-month low of $91.11 and a 12-month high of $119.24.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, July 16th. The financial services provider reported $2.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.50 by $0.32. The firm had revenue of $28.83 billion for the quarter, compared to analyst estimates of $28.52 billion. JPMorgan Chase & Co. had a return on equity of 14.41% and a net margin of 24.73%. The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.29 EPS. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 9.92 EPS for the current year.

In other news, insider Lori A. Beer sold 13,341 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $114.28, for a total transaction of $1,524,609.48. Following the sale, the insider now owns 10,130 shares of the company’s stock, valued at approximately $1,157,656.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Scher sold 10,816 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $115.00, for a total value of $1,243,840.00. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in JPM. Rhumbline Advisers raised its position in JPMorgan Chase & Co. by 0.5% in the 4th quarter. Rhumbline Advisers now owns 5,870,204 shares of the financial services provider’s stock valued at $573,049,000 after purchasing an additional 31,681 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of JPMorgan Chase & Co. by 4.0% during the second quarter. Fisher Asset Management LLC now owns 5,811,331 shares of the financial services provider’s stock worth $649,707,000 after acquiring an additional 223,850 shares during the last quarter. Thoroughbred Financial Services LLC raised its position in shares of JPMorgan Chase & Co. by 11,601.0% during the second quarter. Thoroughbred Financial Services LLC now owns 4,973,970 shares of the financial services provider’s stock worth $497,397,000 after acquiring an additional 4,931,461 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in shares of JPMorgan Chase & Co. by 7.6% during the second quarter. CIBC Private Wealth Group LLC now owns 4,565,517 shares of the financial services provider’s stock worth $510,424,000 after acquiring an additional 322,114 shares during the last quarter. Finally, Sanders Capital LLC raised its position in shares of JPMorgan Chase & Co. by 2.8% during the second quarter. Sanders Capital LLC now owns 4,393,517 shares of the financial services provider’s stock worth $548,947,000 after acquiring an additional 119,356 shares during the last quarter. 71.52% of the stock is currently owned by institutional investors.

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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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Analyst Recommendations for JPMorgan Chase & Co. (NYSE:JPM)

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