Wolfe Research Downgrades JPMorgan Chase & Co. (NYSE:JPM) to Peer Perform

JPMorgan Chase & Co. (NYSE:JPM) was downgraded by investment analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a note issued to investors on Monday, MarketBeat reports.

Several other research analysts also recently issued reports on JPM. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. BMO Capital Markets reduced their price target on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a report on Monday, April 15th. Evercore ISI reissued an “outperform” rating and set a $210.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 3rd. Jefferies Financial Group upped their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $211.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $196.05.

JPMorgan Chase & Co. Trading Up 1.2 %

Shares of JPM opened at $207.63 on Monday. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $210.38. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $596.24 billion, a P/E ratio of 12.54, a PEG ratio of 2.74 and a beta of 1.12. The firm’s 50-day moving average is $198.96 and its two-hundred day moving average is $188.28.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, topping analysts’ consensus estimates of $4.18 by $0.45. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. The business had revenue of $41.93 billion for the quarter, compared to analysts’ expectations of $40.90 billion. On average, research analysts predict that JPMorgan Chase & Co. will post 16.47 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Elena A. Korablina sold 21,829 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the completion of the sale, the insider now owns 6,484 shares of the company’s stock, valued at approximately $1,237,860.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Elena A. Korablina sold 21,829 shares of JPMorgan Chase & Co. stock in a transaction on Monday, May 6th. The shares were sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the transaction, the insider now owns 6,484 shares in the company, valued at approximately $1,237,860.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robin Leopold sold 3,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $198.86, for a total transaction of $596,580.00. Following the sale, the insider now directly owns 44,113 shares of the company’s stock, valued at $8,772,311.18. The disclosure for this sale can be found here. Insiders have sold 250,565 shares of company stock valued at $46,962,717 in the last three months. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several hedge funds have recently modified their holdings of JPM. Wellington Wealth Strategies LLC. acquired a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $1,145,000. Etfidea LLC grew its stake in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Etfidea LLC now owns 1,937 shares of the financial services provider’s stock valued at $329,000 after acquiring an additional 100 shares in the last quarter. Cooper Financial Group increased its position in shares of JPMorgan Chase & Co. by 12.8% during the first quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock worth $1,741,000 after acquiring an additional 984 shares during the last quarter. Sutton Place Investors LLC lifted its stake in shares of JPMorgan Chase & Co. by 179.5% in the fourth quarter. Sutton Place Investors LLC now owns 13,099 shares of the financial services provider’s stock worth $2,228,000 after acquiring an additional 8,412 shares in the last quarter. Finally, Spartan Planning & Wealth Management boosted its holdings in JPMorgan Chase & Co. by 257.3% in the fourth quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock valued at $643,000 after purchasing an additional 2,722 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

About JPMorgan Chase & Co.

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.