JPMorgan Chase & Co. (NYSE:JPM) Sets New 12-Month High on Analyst Upgrade

JPMorgan Chase & Co. (NYSE:JPM)’s stock price reached a new 52-week high during trading on Monday after TD Cowen raised their price target on the stock from $370.00 to $375.00. TD Cowen currently has a buy rating on the stock. JPMorgan Chase & Co. traded as high as $322.88 and last traded at $321.4220, with a volume of 1999163 shares traded. The stock had previously closed at $318.52.

A number of other brokerages also recently issued reports on JPM. Wolfe Research lifted their price target on JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Wall Street Zen raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Barclays increased their price target on shares of JPMorgan Chase & Co. from $330.00 to $342.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Finally, Loop Capital set a $310.00 price objective on shares of JPMorgan Chase & Co. in a report on Thursday, October 23rd. Fifteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $327.05.

Insider Activity

In other news, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $311.92, for a total transaction of $301,314.72. Following the transaction, the insider directly owned 58,479 shares in the company, valued at approximately $18,240,769.68. This trade represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.47% of the company’s stock.

Institutional Trading of JPMorgan Chase & Co.

A number of large investors have recently bought and sold shares of JPM. Harbor Asset Planning Inc. acquired a new position in JPMorgan Chase & Co. in the 2nd quarter worth $26,000. Mizuho Securities Co. Ltd. lifted its stake in shares of JPMorgan Chase & Co. by 450.0% in the second quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 90 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of JPMorgan Chase & Co. in the third quarter worth about $32,000. Family Legacy Financial Solutions LLC grew its stake in JPMorgan Chase & Co. by 92.6% during the 3rd quarter. Family Legacy Financial Solutions LLC now owns 104 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 50 shares in the last quarter. Finally, Turning Point Benefit Group Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at approximately $35,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.86. The business’s 50-day moving average price is $306.77 and its two-hundred day moving average price is $296.86. The firm has a market cap of $871.45 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 1.65 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results 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. The firm had revenue of $47.12 billion for the quarter, compared to analysts’ expectations of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.37 earnings per share. On average, research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Tuesday, January 6th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Tuesday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.72%.

JPMorgan Chase & Co. Company Profile

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.