JPMorgan Chase & Co. (NYSE:JPM) Trading Up 0.8% Following Dividend Announcement

JPMorgan Chase & Co. (NYSE:JPM)’s share price rose 0.8% on Wednesday following a dividend announcement from the company. The stock traded as high as $195.46 and last traded at $195.29. Approximately 1,658,282 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 8,971,877 shares. The stock had previously closed at $193.79.

The newly announced dividend which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.31%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.89%.

Analysts Set New Price Targets

JPM has been the subject of a number of research analyst reports. Oppenheimer lowered their price target on JPMorgan Chase & Co. from $238.00 to $219.00 and set an “outperform” rating for the company in a report on Tuesday. Bank of America upped their price target on shares of JPMorgan Chase & Co. from $177.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. Morgan Stanley upped their target price on JPMorgan Chase & Co. from $191.00 to $221.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Piper Sandler upped their price objective on JPMorgan Chase & Co. from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $185.00 target price on shares of JPMorgan Chase & Co. in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $181.63.

Get Our Latest Analysis on JPM

JPMorgan Chase & Co. Price Performance

The stock has a market capitalization of $573.31 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 2.44 and a beta of 1.14. The business’s 50 day simple moving average is $179.38 and its two-hundred day simple moving average is $161.79. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $3.04 earnings per share for the quarter, missing the consensus estimate of $3.73 by ($0.69). The business had revenue of $38.57 billion during the quarter, compared to the consensus estimate of $39.73 billion. JPMorgan Chase & Co. had a net margin of 20.70% and a return on equity of 17.80%. JPMorgan Chase & Co.’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $3.57 EPS. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 15.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 3,368 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $166.73, for a total transaction of $561,546.64. Following the transaction, the insider now directly owns 205,461 shares in the company, valued at approximately $34,256,512.53. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Ashley Bacon sold 3,368 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $166.73, for a total value of $561,546.64. Following the transaction, the insider now owns 205,461 shares in the company, valued at approximately $34,256,512.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jennifer Piepszak sold 1,649 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $166.59, for a total value of $274,706.91. Following the sale, the chief executive officer now owns 34,467 shares in the company, valued at $5,741,857.53. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 845,383 shares of company stock worth $154,341,636. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of JPMorgan Chase & Co.

Hedge funds have recently added to or reduced their stakes in the stock. Valicenti Advisory Services Inc. grew its stake in shares of JPMorgan Chase & Co. by 2.9% during the 3rd quarter. Valicenti Advisory Services Inc. now owns 79,891 shares of the financial services provider’s stock worth $11,586,000 after acquiring an additional 2,220 shares during the period. Hilltop Holdings Inc. raised its position in shares of JPMorgan Chase & Co. by 4.4% in the second quarter. Hilltop Holdings Inc. now owns 34,079 shares of the financial services provider’s stock valued at $4,956,000 after purchasing an additional 1,439 shares during the period. TKG Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 97.6% during the 3rd quarter. TKG Advisors LLC now owns 13,205 shares of the financial services provider’s stock valued at $1,915,000 after buying an additional 6,521 shares in the last quarter. Alley Investment Management Company LLC boosted its holdings in JPMorgan Chase & Co. by 0.4% in the 3rd quarter. Alley Investment Management Company LLC now owns 126,913 shares of the financial services provider’s stock worth $18,405,000 after buying an additional 530 shares during the period. Finally, Allen Investment Management LLC raised its holdings in JPMorgan Chase & Co. by 15.8% during the 3rd quarter. Allen Investment Management LLC now owns 174,738 shares of the financial services provider’s stock valued at $25,341,000 after acquiring an additional 23,894 shares during the period. Institutional investors own 68.94% of the company’s stock.

JPMorgan Chase & Co. Company Profile

(Get Free Report)

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.

Further Reading

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