Vetr lowered shares of J P Morgan Chase & Co (NYSE:JPM) from a buy rating to a hold rating in a research note published on Tuesday. Vetr currently has $87.76 price target on the financial services provider’s stock.
Other equities analysts have also issued research reports about the stock. Keefe, Bruyette & Woods restated an outperform rating and issued a $88.00 target price (up previously from $77.00) on shares of J P Morgan Chase & Co in a report on Wednesday, November 30th. FBR & Co reiterated an outperform rating on shares of J P Morgan Chase & Co in a report on Tuesday, January 17th. Macquarie reiterated a neutral rating and set a $70.00 price objective on shares of J P Morgan Chase & Co in a report on Monday, October 17th. RBC Capital Markets reiterated a buy rating on shares of J P Morgan Chase & Co in a report on Saturday, December 17th. Finally, CLSA reiterated a buy rating and set a $79.00 price objective on shares of J P Morgan Chase & Co in a report on Wednesday, January 11th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eighteen have given a buy rating to the company’s stock. J P Morgan Chase & Co has an average rating of Hold and an average target price of $76.96.
Shares of J P Morgan Chase & Co (NYSE:JPM) traded up 0.70% during trading on Tuesday, hitting $85.31. The stock had a trading volume of 4,746,371 shares. J P Morgan Chase & Co has a 1-year low of $52.50 and a 1-year high of $88.17. The company has a market capitalization of $304.62 billion, a P/E ratio of 13.78 and a beta of 1.54. The firm has a 50-day moving average of $85.57 and a 200 day moving average of $72.67.
J P Morgan Chase & Co (NYSE:JPM) last released its earnings results on Friday, January 13th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.29. The business had revenue of $24.30 billion for the quarter, compared to analyst estimates of $23.48 billion. J P Morgan Chase & Co had a net margin of 23.45% and a return on equity of 10.91%. J P Morgan Chase & Co’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.68 earnings per share. Equities research analysts predict that J P Morgan Chase & Co will post $6.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, January 6th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Wednesday, January 4th. J P Morgan Chase & Co’s dividend payout ratio is currently 31.02%.
In related news, Director Daniel E. Pinto sold 40,433 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $84.15, for a total transaction of $3,402,436.95. Following the transaction, the director now owns 246,591 shares of the company’s stock, valued at approximately $20,750,632.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Douglas B. Petno sold 6,728 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $84.16, for a total transaction of $566,228.48. Following the transaction, the chief executive officer now directly owns 115,938 shares in the company, valued at approximately $9,757,342.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 202,699 shares of company stock worth $17,009,515. 0.85% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in JPM. The Manufacturers Life Insurance Company purchased a new stake in shares of J P Morgan Chase & Co during the third quarter worth about $899,412,000. Russell Investments Group Ltd. purchased a new stake in shares of J P Morgan Chase & Co during the fourth quarter worth about $654,210,000. Vanguard Group Inc. raised its stake in shares of J P Morgan Chase & Co by 2.1% in the second quarter. Vanguard Group Inc. now owns 229,636,598 shares of the financial services provider’s stock worth $14,269,618,000 after buying an additional 4,692,609 shares during the period. Capital Research Global Investors raised its stake in shares of J P Morgan Chase & Co by 36.2% in the third quarter. Capital Research Global Investors now owns 13,928,002 shares of the financial services provider’s stock worth $927,466,000 after buying an additional 3,699,360 shares during the period. Finally, Winslow Capital Management LLC purchased a new stake in shares of J P Morgan Chase & Co during the second quarter worth about $221,862,000. 73.55% of the stock is currently owned by institutional investors and hedge funds.
About J P Morgan Chase & Co
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment serves consumers and businesses through personal service at bank branches and through automatic teller machines, online, mobile and telephone banking.
To view Vetr’s full report, visit Vetr’s official website.