Traders Sell JPMorgan Chase & Co. (JPM) on Strength (JPM)

Investors sold shares of JPMorgan Chase & Co. (NYSE:JPM) on strength during trading on Thursday. $176.34 million flowed into the stock on the tick-up and $252.59 million flowed out of the stock on the tick-down, for a money net flow of $76.25 million out of the stock. Of all stocks tracked, JPMorgan Chase & Co. had the 7th highest net out-flow for the day. JPMorgan Chase & Co. traded up $0.49 for the day and closed at $116.15

Several brokerages have commented on JPM. Royal Bank of Canada restated a “buy” rating and issued a $120.00 price objective on shares of JPMorgan Chase & Co. in a report on Monday, July 16th. Goldman Sachs Group set a $128.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a “neutral” rating in a report on Monday, July 23rd. BMO Capital Markets restated a “hold” rating and issued a $110.00 price objective on shares of JPMorgan Chase & Co. in a report on Friday, April 13th. Zacks Investment Research lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Finally, Societe Generale restated a “neutral” rating and issued a $119.50 price objective on shares of JPMorgan Chase & Co. in a report on Monday, July 16th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $117.72.

The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $394.50 billion, a PE ratio of 16.83, a PEG ratio of 1.89 and a beta of 1.24.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 31st. Investors of record on Friday, July 6th were paid a $0.56 dividend. The ex-dividend date was Thursday, July 5th. This represents a $2.24 annualized dividend and a dividend yield of 1.93%. JPMorgan Chase & Co.’s payout ratio is 32.61%.

In other news, Director Todd A. Combs acquired 13,000 shares of JPMorgan Chase & Co. stock in a transaction on Monday, May 14th. The stock was acquired at an average cost of $114.61 per share, for a total transaction of $1,489,930.00. Following the purchase, the director now owns 18,277 shares in the company, valued at $2,094,726.97. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Chase & Co Jpmorgan acquired 22,000 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, May 31st. The shares were purchased at an average price of $1,000.00 per share, with a total value of $22,000,000.00. The disclosure for this purchase can be found here. 0.73% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Summit Trail Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 10,129.2% during the 1st quarter. Summit Trail Advisors LLC now owns 6,914,142 shares of the financial services provider’s stock valued at $6,914,000 after acquiring an additional 6,846,550 shares during the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 104.9% during the 1st quarter. OppenheimerFunds Inc. now owns 9,051,033 shares of the financial services provider’s stock valued at $995,342,000 after acquiring an additional 4,634,515 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of JPMorgan Chase & Co. by 421.0% during the 4th quarter. Mackenzie Financial Corp now owns 3,427,864 shares of the financial services provider’s stock valued at $366,576,000 after acquiring an additional 2,769,926 shares during the last quarter. ADAMCAPITAL Gestao de Recursos Ltda. purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $262,139,000. Finally, OMERS ADMINISTRATION Corp boosted its holdings in shares of JPMorgan Chase & Co. by 108.1% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 3,835,312 shares of the financial services provider’s stock valued at $421,769,000 after acquiring an additional 1,992,507 shares during the last quarter. Institutional investors and hedge funds own 71.95% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

Further Reading: Trading Strategy

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply