JPMorgan Chase & Co. (NYSE:JPM) Shares Down 1.6% After Insider Selling

JPMorgan Chase & Co. (NYSE:JPM) traded down 1.6% on Tuesday following insider selling activity. The stock traded as low as $179.77 and last traded at $179.89. 4,443,416 shares were traded during mid-day trading, a decline of 52% from the average session volume of 9,254,145 shares. The stock had previously closed at $182.89.

Specifically, CEO James Dimon sold 178,222 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $184.18, for a total value of $32,824,927.96. Following the completion of the transaction, the chief executive officer now directly owns 264,461 shares in the company, valued at $48,708,426.98. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, General Counsel Stacey Friedman sold 6,030 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total value of $1,101,861.90. Following the completion of the sale, the general counsel now owns 59,456 shares of the company’s stock, valued at $10,864,394.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James Dimon sold 178,222 shares of JPMorgan Chase & Co. stock in a transaction on Monday, April 15th. The shares were sold at an average price of $184.18, for a total value of $32,824,927.96. Following the transaction, the chief executive officer now owns 264,461 shares in the company, valued at approximately $48,708,426.98. The disclosure for this sale can be found here. Insiders sold 1,020,696 shares of company stock worth $186,794,151 in the last quarter. 0.79% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on JPM shares. Piper Sandler cut their price objective on JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Monday. The Goldman Sachs Group reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. Evercore ISI lifted their price target on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $185.00 price target on shares of JPMorgan Chase & Co. in a research note on Wednesday, March 20th. Finally, UBS Group cut their price objective on shares of JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating on the stock in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.05.

JPMorgan Chase & Co. Stock Down 0.5 %

The stock has a market capitalization of $516.86 billion, a P/E ratio of 10.87, a P/E/G ratio of 2.30 and a beta of 1.15. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The firm’s fifty day moving average is $188.48 and its 200-day moving average is $168.50.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be paid a $1.15 dividend. The ex-dividend date is Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a yield of 2.56%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s payout ratio is currently 27.78%.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of hedge funds have recently added to or reduced their stakes in JPM. Moneta Group Investment Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 105,652.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after buying an additional 97,907,897 shares during the period. Norges Bank bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $6,016,878,000. Morgan Stanley increased its position in JPMorgan Chase & Co. by 15.9% in the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after purchasing an additional 8,088,433 shares during the period. International Assets Investment Management LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $1,017,893,000. Finally, Legal & General Group Plc lifted its position in JPMorgan Chase & Co. by 24.9% during the 4th quarter. Legal & General Group Plc now owns 23,406,286 shares of the financial services provider’s stock valued at $3,981,428,000 after purchasing an additional 4,659,651 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.