JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 1.1% After Dividend Announcement

JPMorgan Chase & Co. (NYSE:JPM) shares rose 1.1% during trading on Wednesday following a dividend announcement from the company. The company traded as high as $238.17 and last traded at $237.67. Approximately 1,660,645 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 8,810,589 shares. The stock had previously closed at $234.97.

The newly announced dividend which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be given a dividend of $1.40 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a yield of 2.36%. JPMorgan Chase & Co.’s payout ratio is 25.33%.

Analyst Ratings Changes

A number of brokerages have weighed in on JPM. Piper Sandler lifted their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Citigroup lifted their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Finally, Truist Financial boosted their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $252.89.

JPMorgan Chase & Co. Trading Up 1.2 %

The firm has a market cap of $664.62 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 2.83 and a beta of 1.10. The company has a fifty day moving average price of $257.99 and a 200-day moving average price of $239.11. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. JPMorgan Chase & Co.’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.04 EPS. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 158,381 shares in the company, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 46,326 shares of company stock worth $12,448,445. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in JPM. Disciplined Investments LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $217,000. LGT Group Foundation lifted its holdings in JPMorgan Chase & Co. by 2.8% during the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock worth $126,040,000 after buying an additional 14,300 shares during the last quarter. Kinsale Capital Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 11.1% in the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock valued at $10,483,000 after purchasing an additional 4,375 shares during the last quarter. Jag Capital Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 10.5% in the 4th quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock valued at $353,000 after purchasing an additional 140 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of JPMorgan Chase & Co. by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock valued at $938,491,000 after purchasing an additional 319,730 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.