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

Shares of JPMorgan Chase & Co. (NYSE:JPM) rose 1.1% 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 traded hands during 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. Stockholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. This represents a $5.60 annualized dividend and a dividend yield of 2.34%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.33%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a report on Friday, January 3rd. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Barclays raised their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $252.89.

JPMorgan Chase & Co. Price Performance

The company has a market cap of $668.84 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The business’s 50 day moving average price is $257.92 and its 200-day moving average price is $239.11. 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 posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.04 earnings per share. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the sale, the chief executive officer now owns 158,381 shares in the company, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jennifer Piepszak sold 4,273 shares of JPMorgan Chase & Co. stock in a transaction 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 transaction, the chief operating officer now directly owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. This represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,326 shares of company stock worth $12,448,445. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in JPMorgan Chase & Co. by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock worth $14,161,171,000 after purchasing an additional 876,417 shares during the period. Norges Bank acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth $8,310,884,000. Northern Trust Corp boosted its holdings in JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock worth $8,113,147,000 after purchasing an additional 4,515,147 shares during the period. Capital Research Global Investors boosted its holdings in JPMorgan Chase & Co. by 9.1% in the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock worth $5,475,223,000 after purchasing an additional 1,914,049 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in JPMorgan Chase & Co. by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,103,063 shares of the financial services provider’s stock worth $4,818,905,000 after purchasing an additional 71,122 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

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.