JPMorgan Chase & Co. (NYSE:JPM) Trading Up 0.4% Following Dividend Announcement

JPMorgan Chase & Co. (NYSE:JPM)’s stock price rose 0.4% during mid-day trading on Tuesday following a dividend announcement from the company. The company traded as high as $266.51 and last traded at $265.94. Approximately 2,050,609 shares were traded during trading, a decline of 79% from the average daily volume of 9,627,888 shares. The stock had previously closed at $264.88.

The newly announced dividend which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.49%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a “buy” rating and a $305.00 price objective on the stock. Bank of America decreased their price target on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Truist Financial set a $261.00 price target on JPMorgan Chase & Co. in a report on Monday, April 14th. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Finally, UBS Group increased their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $266.20.

JPMorgan Chase & Co. Price Performance

The company’s fifty day moving average is $242.28 and its two-hundred day moving average is $247.67. The firm has a market capitalization of $737.99 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.44 earnings per share. Equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Transactions at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the transaction, the insider now owns 50,377 shares in the company, valued at approximately $13,606,323.93. The trade was a 2.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jennifer Piepszak sold 4,273 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were 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 directly owns 54,469 shares of the company’s stock, valued at $14,698,459.65. The trade was a 7.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 138,617 shares of company stock worth $35,600,742. 0.47% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. in the first quarter valued at approximately $28,000. Redwood Park Advisors LLC bought a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $29,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. during the 1st quarter worth about $30,000. Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $33,000. Finally, Sellwood Investment Partners LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $34,000. 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. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.