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

Shares of JPMorgan Chase & Co. (NYSE:JPM) traded up 1.1% during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $238.17 and last traded at $237.67. 1,660,645 shares traded 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 dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 annualized dividend and a yield of 2.34%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.37%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods upped 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 note on Thursday, January 16th. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $215.00 to $220.00 in a research note on Friday, March 7th. Truist Financial increased their target price on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Finally, UBS Group increased their target price on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $252.89.

JPMorgan Chase & Co. Stock Performance

The firm has a market capitalization of $667.89 billion, a P/E ratio of 12.10, a P/E/G ratio of 2.83 and a beta of 1.10. The firm has a 50-day moving average price of $257.83 and a two-hundred day moving average price of $239.11. 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 announced its quarterly earnings results 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 firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.04 earnings per share. On average, analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal 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 dated Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the sale, the insider now owns 50,377 shares in the company, valued at $13,606,323.93. The trade was a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,326 shares of company stock worth $12,448,445 over the last quarter. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Large investors have recently modified their holdings of the business. Principal Financial Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 3.2% during the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after purchasing an additional 182,648 shares during the period. United Bank lifted its holdings in JPMorgan Chase & Co. by 2.5% in the third quarter. United Bank now owns 25,354 shares of the financial services provider’s stock valued at $5,346,000 after acquiring an additional 614 shares during the period. Maxwell Wealth Strategies Inc. lifted its holdings in JPMorgan Chase & Co. by 21.9% in the third quarter. Maxwell Wealth Strategies Inc. now owns 32,622 shares of the financial services provider’s stock valued at $7,225,000 after acquiring an additional 5,852 shares during the period. RIA Advisory Group LLC acquired a new position in JPMorgan Chase & Co. in the third quarter valued at approximately $402,000. Finally, KPP Advisory Services LLC lifted its holdings in JPMorgan Chase & Co. by 0.8% in the third quarter. KPP Advisory Services LLC now owns 13,136 shares of the financial services provider’s stock valued at $2,770,000 after acquiring an additional 104 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

About JPMorgan Chase & Co.

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.