JPMorgan Chase & Co. (NYSE:JPM) Trading Up 1.1% Following Dividend Announcement

Shares of JPMorgan Chase & Co. (NYSE:JPM) shot up 1.1% during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $238.17 and last traded at $237.67. 1,660,645 shares changed hands during trading, a decline of 81% from the average session 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 paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a yield of 2.34%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s payout ratio is presently 28.37%.

Analyst Ratings Changes

JPM has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Barclays increased their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Bank of America increased their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Finally, Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $252.89.

JPMorgan Chase & Co. Trading Down 0.1 %

The firm’s 50 day moving average is $257.83 and its 200 day moving average is $239.11. The company has a market cap of $667.89 billion, a PE ratio of 12.10, a PEG ratio of 2.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate 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 net margin of 20.96% and a return on equity of 16.99%. JPMorgan Chase & Co.’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.04 earnings per share. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the sale, the general counsel now directly owns 47,620 shares in the company, valued at $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the completion of the sale, the chief operating officer now owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. The trade was a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,326 shares of company stock worth $12,448,445 over the last three months. 0.79% of the stock is owned by insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Redwood Park Advisors LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at $29,000. Sellwood Investment Partners LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at $34,000. Investment Counsel Co. of Nevada purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at $37,000. Midwest Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at $43,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $43,000. 71.55% of the stock is currently owned by 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.