Stacey Friedman Sells 5,468 Shares of JPMorgan Chase & Co. (NYSE:JPM) Stock

JPMorgan Chase & Co. (NYSE:JPM) General Counsel Stacey Friedman sold 5,468 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the sale, the general counsel directly owned 46,428 shares in the company, valued at $13,940,935.56. This represents a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

JPMorgan Chase & Co. Trading Up 2.1%

Shares of JPM traded up $6.34 during mid-day trading on Wednesday, hitting $302.04. The company had a trading volume of 9,319,164 shares, compared to its average volume of 10,182,810. The business’s 50-day simple moving average is $299.94 and its 200-day simple moving average is $307.25. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 1-year low of $256.00 and a 1-year high of $337.25. The stock has a market cap of $809.32 billion, a PE ratio of 14.47, a P/E/G ratio of 1.47 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last released its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $48.30 billion. During the same period last year, the company earned $5.07 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. Sell-side analysts forecast that JPMorgan Chase & Co. will post 22.43 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a $1.50 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.74%.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of recent research reports. Evercore lifted their price target on shares of JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Jefferies Financial Group reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Daiwa Securities Group reduced their price target on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Robert W. Baird set a $295.00 price target on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Finally, Autonomous Res reduced their price target on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a research report on Monday, April 6th. Fifteen investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $339.08.

Read Our Latest Stock Analysis on JPM

Institutional Trading of JPMorgan Chase & Co.

Hedge funds have recently made changes to their positions in the company. Timmons Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $32,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $32,000. MBM Wealth Consultants LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $29,000. Finally, Osbon Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

More JPMorgan Chase & Co. News

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JPMorgan Chase & Co. Company Profile

(Get Free Report)

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

Further Reading

Insider Buying and Selling by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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