The Jefferies Group Raises JPMorgan Chase & Co. (JPM) Price Target to $77.00

The Jefferies Group Raises JPMorgan Chase & Co. (JPM) Price Target to $77.00

JPMorgan Chase & Co. (NYSE:JPM) had its price target upped by Jefferies Group from $67.00 to $77.00 in a research note released on Monday. The brokerage currently has a buy rating on the financial services provider’s stock.

Several other equities analysts have also recently weighed in on the stock. Vetr raised shares of JPMorgan Chase & Co. from a strong sell rating to a sell rating and set a $57.51 target price for the company in a research note on Tuesday, July 5th. Berenberg Bank started coverage on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 13th. They set a sell rating for the company. KeyCorp reissued a buy rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 12th. Citigroup Inc. cut shares of JPMorgan Chase & Co. from a buy rating to a neutral rating and set a $65.00 price objective for the company. in a research note on Monday, August 8th. They noted that the move was a valuation call. Finally, Deutsche Bank AG reissued a buy rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 15th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. JPMorgan Chase & Co. presently has an average rating of Buy and an average price target of $72.25.

JPMorgan Chase & Co. (NYSE:JPM) opened at 68.13 on Monday. The company has a 50-day moving average of $66.94 and a 200-day moving average of $63.93. JPMorgan Chase & Co. has a 1-year low of $52.50 and a 1-year high of $69.06. The company has a market capitalization of $246.05 billion, a P/E ratio of 11.55 and a beta of 1.54.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Thursday, October 6th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Tuesday, October 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 32.54%.

In related news, EVP Gordon Smith sold 23,735 shares of the business’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $64.05, for a total value of $1,520,226.75. Following the completion of the transaction, the executive vice president now directly owns 152,462 shares in the company, valued at approximately $9,765,191.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ashley Bacon sold 15,521 shares of the business’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $63.97, for a total transaction of $992,878.37. Following the completion of the transaction, the insider now owns 14,938 shares of the company’s stock, valued at $955,583.86. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of JPM. Acrospire Investment Management LLC purchased a new position in JPMorgan Chase & Co. during the first quarter valued at about $107,000. Jackson Grant Investment Advisers Inc. boosted its position in JPMorgan Chase & Co. by 0.7% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 2,014 shares of the financial services provider’s stock valued at $125,000 after buying an additional 14 shares in the last quarter. Vigilant Capital Management LLC boosted its position in JPMorgan Chase & Co. by 22.1% in the second quarter. Vigilant Capital Management LLC now owns 2,079 shares of the financial services provider’s stock valued at $129,000 after buying an additional 376 shares in the last quarter. Perkins Coie Trust Co boosted its position in JPMorgan Chase & Co. by 10.2% in the second quarter. Perkins Coie Trust Co now owns 2,163 shares of the financial services provider’s stock valued at $134,000 after buying an additional 200 shares in the last quarter. Finally, CT Financial Advisors LLC boosted its position in JPMorgan Chase & Co. by 4.2% in the third quarter. CT Financial Advisors LLC now owns 2,187 shares of the financial services provider’s stock valued at $146,000 after buying an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

About JPMorgan Chase & Co.

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