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

JPMorgan Chase & Co. (NYSE:JPM)’s share price shot up 1.1% during mid-day trading on Wednesday after the company announced a dividend. The stock 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. Investors of record on Friday, April 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.36%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s payout ratio is 25.33%.

Analysts Set New Price Targets

Several equities analysts have issued reports on JPM shares. Piper Sandler boosted their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Bank of America upped their price target on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Citigroup upped their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and upped their target price for the company from $215.00 to $220.00 in a research note on Friday, March 7th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average target price of $252.89.

JPMorgan Chase & Co. Stock Up 1.2 %

The firm has a market capitalization of $664.62 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average of $257.99 and a two-hundred day moving average of $239.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. During the same period in the prior year, the firm earned $3.04 EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

Insider Activity at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,273 shares of the firm’s stock in a transaction dated 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 directly owns 54,469 shares in the company, valued at $14,698,459.65. This trade represents a 7.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the sale, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 46,326 shares of company stock worth $12,448,445. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of JPMorgan Chase & Co.

Several large investors have recently modified their holdings of JPM. DDD Partners LLC lifted its position in shares of JPMorgan Chase & Co. by 2.8% during the fourth quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 38 shares during the last quarter. Blue Bell Private Wealth Management LLC lifted its position in shares of JPMorgan Chase & Co. by 1.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 38 shares during the last quarter. Rappaport Reiches Capital Management LLC lifted its position in shares of JPMorgan Chase & Co. by 3.8% during the fourth quarter. Rappaport Reiches Capital Management LLC now owns 1,068 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 39 shares during the last quarter. Yoder Wealth Management Inc. lifted its position in shares of JPMorgan Chase & Co. by 2.8% during the fourth quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 39 shares during the last quarter. Finally, Almanack Investment Partners LLC. lifted its position in shares of JPMorgan Chase & Co. by 0.8% during the fourth quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider’s stock worth $1,233,000 after purchasing an additional 39 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

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.