Morgan Stanley Lowers JPMorgan Chase & Co. (NYSE:JPM) Price Target to $216.00

JPMorgan Chase & Co. (NYSE:JPM) had its price objective reduced by Morgan Stanley from $221.00 to $216.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other analysts have also issued reports about the company. Piper Sandler dropped their target price on JPMorgan Chase & Co. from $220.00 to $215.00 and set an overweight rating on the stock in a research report on Monday. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $182.00 to $195.00 and gave the stock a market perform rating in a research note on Friday, April 5th. Barclays lifted their price target on JPMorgan Chase & Co. from $186.00 to $212.00 and gave the stock an overweight rating in a research note on Tuesday, January 2nd. The Goldman Sachs Group reiterated a buy rating on shares of JPMorgan Chase & Co. in a research note on Thursday, February 1st. Finally, Bank of America lifted their price target on JPMorgan Chase & Co. from $177.00 to $188.00 and gave the stock a buy rating in a research note on Thursday, January 4th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $192.05.

JPMorgan Chase & Co. Stock Up 0.6 %

Shares of NYSE JPM opened at $181.14 on Monday. JPMorgan Chase & Co. has a 1 year low of $131.81 and a 1 year high of $200.94. The firm has a market cap of $520.25 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 2.27 and a beta of 1.15. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.92. The stock’s 50-day simple moving average is $188.61 and its 200-day simple moving average is $168.59.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be issued a dividend of $1.15 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date is Thursday, April 4th. This represents a $4.60 annualized dividend and a yield of 2.54%. JPMorgan Chase & Co.’s payout ratio is presently 27.78%.

Insider Buying and Selling

In related news, Vice Chairman Peter Scher sold 1,810 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $178.96, for a total transaction of $323,917.60. Following the sale, the insider now owns 44,956 shares of the company’s stock, valued at $8,045,325.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Vice Chairman Peter Scher sold 1,810 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $178.96, for a total transaction of $323,917.60. Following the sale, the insider now owns 44,956 shares of the company’s stock, valued at $8,045,325.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jennifer Piepszak sold 1,648 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $294,926.08. Following the completion of the transaction, the chief executive officer now directly owns 32,819 shares in the company, valued at approximately $5,873,288.24. The disclosure for this sale can be found here. Insiders have sold a total of 1,020,696 shares of company stock valued at $186,794,151 over the last quarter. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Moneta Group Investment Advisors LLC grew its position in JPMorgan Chase & Co. by 105,652.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after purchasing an additional 97,907,897 shares in the last quarter. Norges Bank purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $6,016,878,000. Morgan Stanley grew its position in JPMorgan Chase & Co. by 15.9% during the 4th 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 in the last quarter. International Assets Investment Management LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $1,017,893,000. Finally, Legal & General Group Plc grew 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 worth $3,981,428,000 after purchasing an additional 4,659,651 shares in the last quarter. 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.