J P Morgan Chase & Co (NYSE:JPM) had its price objective hoisted by Credit Suisse Group from $102.00 to $103.00 in a research note released on Friday, July 14th, MarketBeat reports. Credit Suisse Group currently has an outperform rating on the financial services provider’s stock.
Other equities research analysts have also recently issued research reports about the company. Vetr cut J P Morgan Chase & Co from a strong-buy rating to a buy rating and set a $99.01 price target for the company. in a report on Wednesday, April 26th. Guggenheim raised J P Morgan Chase & Co from a neutral rating to a buy rating and increased their price target for the company from $88.25 to $96.00 in a report on Tuesday, April 25th. Keefe, Bruyette & Woods increased their price target on J P Morgan Chase & Co to $47.00 and gave the company a buy rating in a report on Monday, April 17th. Rafferty Capital Markets reaffirmed a buy rating and issued a $97.00 price target (up previously from $96.00) on shares of J P Morgan Chase & Co in a report on Tuesday, March 21st. Finally, UBS AG reaffirmed a buy rating and issued a $101.00 price target on shares of J P Morgan Chase & Co in a report on Monday, May 15th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $84.71.
Shares of J P Morgan Chase & Co (NYSE JPM) traded up 1.25% during trading on Friday, hitting $93.66. The stock had a trading volume of 14,323,999 shares. The firm has a market cap of $329.59 billion, a price-to-earnings ratio of 13.82 and a beta of 1.19. J P Morgan Chase & Co has a 52-week low of $63.65 and a 52-week high of $94.51. The firm’s 50-day moving average is $90.52 and its 200 day moving average is $88.06.
J P Morgan Chase & Co (NYSE:JPM) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 EPS for the quarter, beating the consensus estimate of $1.59 by $0.23. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter last year, the firm earned $1.55 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, analysts expect that J P Morgan Chase & Co will post $6.81 EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Thursday, July 6th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Monday, July 3rd. J P Morgan Chase & Co’s dividend payout ratio (DPR) is currently 29.59%.
In other news, insider Nicole Giles sold 1,000 shares of J P Morgan Chase & Co stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $91.29, for a total transaction of $91,290.00. Following the sale, the insider now owns 3,783 shares in the company, valued at $345,350.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marianne Lake sold 17,596 shares of J P Morgan Chase & Co stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $91.58, for a total value of $1,611,441.68. The disclosure for this sale can be found here. Insiders have sold 25,110 shares of company stock worth $2,270,818 in the last quarter. Insiders own 0.85% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in J P Morgan Chase & Co during the fourth quarter worth about $2,897,377,000. Dodge & Cox bought a new position in J P Morgan Chase & Co during the fourth quarter worth about $2,297,616,000. FMR LLC raised its position in J P Morgan Chase & Co by 19.4% in the fourth quarter. FMR LLC now owns 96,587,143 shares of the financial services provider’s stock worth $8,334,505,000 after buying an additional 15,715,835 shares in the last quarter. Asset Management One Co. Ltd. raised its position in J P Morgan Chase & Co by 1,138.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 6,754,863 shares of the financial services provider’s stock worth $582,667,000 after buying an additional 6,209,530 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in J P Morgan Chase & Co during the fourth quarter worth about $393,160,000. 74.08% of the stock is currently owned by hedge funds and other institutional investors.
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 offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.
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