JPMorgan Chase & Co. (NYSE:JPM) Shares Up 0.2% After Dividend Announcement

JPMorgan Chase & Co. (NYSE:JPM) shares rose 0.2% during mid-day trading on Tuesday after the company announced a dividend. The stock traded as high as $236.17 and last traded at $234.43. Approximately 2,171,198 shares changed hands during trading, a decline of 75% from the average daily volume of 8,811,289 shares. The stock had previously closed at $233.93.

The newly announced dividend which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a $1.40 dividend. 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 yield of 2.34%. JPMorgan Chase & Co.’s payout ratio is 25.33%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Piper Sandler increased their price target 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. Barclays lifted their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research report on Friday, January 3rd. Finally, Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $252.89.

JPMorgan Chase & Co. Stock Performance

The firm has a market cap of $668.84 billion, a P/E ratio of 12.12, a P/E/G ratio of 2.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The company’s 50 day moving average is $257.92 and its 200 day moving average is $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, topping the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company 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 business earned $3.04 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the sale, the general counsel now directly owns 47,620 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Also, COO Jennifer Piepszak sold 4,273 shares of the firm’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 transaction, the chief operating officer now owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. This trade represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,326 shares of company stock valued at $12,448,445 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of hedge funds have recently modified their holdings of JPM. Norges Bank acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth about $8,310,884,000. Northern Trust Corp raised its position in shares of JPMorgan Chase & Co. by 15.4% during 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 acquiring an additional 4,515,147 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 31.7% in the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock worth $3,539,132,000 after acquiring an additional 4,043,841 shares during the period. Proficio Capital Partners LLC boosted its holdings in JPMorgan Chase & Co. by 34,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock valued at $838,865,000 after acquiring an additional 3,489,314 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in JPMorgan Chase & Co. by 31.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider’s stock worth $2,561,256,000 after purchasing an additional 2,551,899 shares during the last quarter. Institutional investors and hedge funds 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.