JPMorgan Chase & Co. (NYSE:JPM) Trading Down 3.5% – Time to Sell?

JPMorgan Chase & Co. (NYSE:JPM) traded down 3.5% during mid-day trading on Thursday . The stock traded as low as $309.10 and last traded at $309.2830. 8,839,076 shares traded hands during trading, a decline of 6% from the average session volume of 9,364,858 shares. The stock had previously closed at $320.41.

Analyst Upgrades and Downgrades

A number of analysts have commented on JPM shares. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of JPMorgan Chase & Co. in a report on Thursday. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $345.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Evercore ISI lifted their target price on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Truist Financial upped their price target on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a research report on Tuesday, September 23rd. Finally, UBS Group raised their price objective on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $326.38.

JPMorgan Chase & Co. Trading Down 1.9%

The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The company has a market capitalization of $826.55 billion, a PE ratio of 15.04, a PEG ratio of 1.84 and a beta of 1.14. The stock has a fifty day moving average of $307.51 and a 200 day moving average of $289.72.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm had revenue of $47.12 billion for the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter last year, the business posted $4.37 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were issued a $1.50 dividend. The ex-dividend date was Monday, October 6th. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is presently 29.72%.

Insider Activity

In related news, insider Robin Leopold sold 966 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $311.92, for a total value of $301,314.72. Following the sale, the insider directly owned 58,479 shares in the company, valued at approximately $18,240,769.68. The trade was a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director directly owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of JPM. Kingstone Capital Partners Texas LLC raised its position in JPMorgan Chase & Co. by 609,867.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after purchasing an additional 72,885,260 shares during the period. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth approximately $10,295,209,000. Laurel Wealth Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 28,813.7% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 16,785,584 shares of the financial services provider’s stock valued at $4,866,309,000 after purchasing an additional 16,727,530 shares during the last quarter. Nuveen LLC bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at approximately $3,972,807,000. Finally, Viking Global Investors LP raised its holdings in JPMorgan Chase & Co. by 86.1% during the 2nd quarter. Viking Global Investors LP now owns 4,042,034 shares of the financial services provider’s stock valued at $1,171,826,000 after buying an additional 1,870,386 shares during the period. 71.55% of the stock is currently owned by institutional investors.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.