JPMorgan Chase & Co. (NYSE:JPM) Shares Dip 0.7% - What You Need to Know

On Thursday, shares of JPMorgan Chase & Co. (NYSE:JPM) experienced a decline of 0.7%. The stock reached a low of $247.18 before closing at $249.38. In total, 2,225,045 shares changed hands during mid-day trading, which is a significant drop from the average session volume of 8,862,698 shares. The previous closing price was $251.03.

Analysts have been actively revising their ratings for JPMorgan Chase. Recently, Robert W. Baird upgraded the stock from "underperform" to "neutral" and increased their price target from $215.00 to $220.00. Additionally, Keefe, Bruyette & Woods raised their price target from $257.00 to $264.00 and maintained a "market perform" rating.

Meanwhile, UBS Group raised their target price for JPMorgan Chase from $276.00 to $287.00, classifying it as a "buy". Bank of America also increased their target price from $260.00 to $280.00 while maintaining a "buy" rating. Overall, ten analysts currently assign a hold rating to the stock, while another ten consider it a buy, resulting in a consensus rating of "Moderate Buy" with an average price target of $252.89.

Stock Performance and Financials

The stock's 50-day moving average is $257.99 while the 200-day moving average stands at $240.06. The company has a market capitalization of $696.87 billion with a price-to-earnings ratio of 12.62 and a P/E/G ratio of 2.83. Its beta is 1.10. Additionally, JPMorgan has a quick ratio of 0.89 and a current ratio of 0.88 with a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. recently reported its quarterly earnings on January 15th, revealing earnings per share (EPS) of $4.81, exceeding estimates of $4.03 by $0.78. The company generated $42.77 billion in revenue, surpassing the anticipated $41.90 billion. Compared to the same quarter last year, revenue grew by 10.9%, and in the prior year, the EPS was $3.04. Analysts expect the company will report an EPS of 18.1 for the current fiscal year.

Dividend Announcement

Additionally, JPMorgan Chase announced an increase in its quarterly dividend. The new dividend of $1.40 per share will be paid on April 30th to shareholders who are on record by April 4th. This increase reflects a rise from the previous quarterly dividend of $1.25, resulting in an annualized payout of $5.60 and a yield of 2.25%. The payout ratio stands at 28.37%.

Insider Transactions

In insider news, CEO Troy L. Rohrbaugh sold 25,000 shares of stock on March 24th at an average price of $247.02, totaling approximately $6,175,500. Following this transaction, he retains 133,381 shares valued around $32.95 million, marking a 15.78% decrease in his ownership. Similarly, insider Robin Leopold sold 1,250 shares on February 20th at an average price of $270.09.

Institutional Movements

Institutional investors have been active around JPMorgan Chase stock, with several new stakeholders acquiring shares last quarter. Redwood Park Advisors LLC, for example, purchased a new stake valued at $29,000. Other firms, including Sellwood Investment Partners LLC and Prudent Man Investment Management Inc., also marked their investments in the fourth quarter. In total, institutional investors own about 71.55% of the company's stock.

Company Overview

JPMorgan Chase & Co. is a leading financial holding company engaged in offering financial and investment banking services. The company provides a wide range of investment banking services, including corporate strategy advisement, capital raising in equity and debt markets, risk management, market making in cash securities and derivatives, and brokerage services.

JPMorgan, Stocks, Investing