StockNews.com Upgrades JPMorgan Chase & Co. (NYSE:JPM) to “Hold”

JPMorgan Chase & Co. (NYSE:JPM) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

Other research analysts also recently issued reports about the stock. Barclays increased their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. KGI Securities initiated coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a “hold” rating for the company. Evercore ISI reduced their target price on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. UBS Group increased their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Finally, Truist Financial set a $261.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, April 14th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus target price of $255.67.

JPMorgan Chase & Co. Trading Up 1.1%

NYSE:JPM opened at $262.92 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The firm has a market cap of $730.68 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a 52 week low of $190.88 and a 52 week high of $280.25. The firm has a 50-day moving average price of $238.77 and a two-hundred day moving average price of $246.19.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same period in the prior year, the firm earned $4.44 EPS. The company’s revenue was up 8.0% compared to the same quarter last year. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the completion of the sale, the chief operating officer now directly owns 68,583 shares of the company’s stock, valued at approximately $17,197,873.08. The trade was a 8.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the sale, the insider now directly owns 50,377 shares of the company’s stock, valued at $13,606,323.93. This represents a 2.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 129,188 shares of company stock worth $33,095,363 in the last three months. 0.47% of the stock is currently owned by corporate insiders.

Institutional Trading of JPMorgan Chase & Co.

A number of hedge funds have recently made changes to their positions in JPM. MJT & Associates Financial Advisory Group Inc. purchased a new position in JPMorgan Chase & Co. in the 1st quarter worth $28,000. Redwood Park Advisors LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth $29,000. University of Illinois Foundation purchased a new position in JPMorgan Chase & Co. in the 1st quarter worth $30,000. Curat Global LLC purchased a new position in JPMorgan Chase & Co. in the 1st quarter worth $33,000. Finally, Sellwood Investment Partners LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth $34,000. 71.55% of the stock is 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.