JPMorgan Chase & Co. (NYSE:JPM) Shares Up 0.7% – Here’s Why

Shares of JPMorgan Chase & Co. (NYSE:JPM) traded up 0.7% during trading on Tuesday . The company traded as high as $250.10 and last traded at $249.81. 1,800,315 shares were traded during mid-day trading, a decline of 80% from the average session volume of 8,866,464 shares. The stock had previously closed at $248.06.

Analyst Upgrades and Downgrades

JPM has been the subject of several recent research reports. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Barclays increased their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. UBS Group lifted their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Bank of America increased their price target on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Finally, Truist Financial boosted their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $252.89.

JPMorgan Chase & Co. Stock Performance

The stock has a market capitalization of $700.65 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 2.83 and a beta of 1.10. The company’s fifty day simple moving average is $257.94 and its 200 day simple moving average is $239.71. 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 announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The business 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%. JPMorgan Chase & Co.’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.04 EPS. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.23%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.37%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction dated Thursday, January 16th. The shares were 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 $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the sale, the insider now owns 49,127 shares in the company, valued at $12,130,438.84. This represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,848 shares of company stock valued at $19,987,908. 0.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake 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 valued at $14,161,171,000 after buying an additional 876,417 shares in the last quarter. Norges Bank bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $8,310,884,000. Northern Trust Corp boosted its stake in shares of JPMorgan Chase & Co. by 15.4% in the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of JPMorgan Chase & Co. by 9.1% during the 4th quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock valued at $5,475,223,000 after purchasing an additional 1,914,049 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in JPMorgan Chase & Co. by 0.4% during the 4th 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 in the last quarter. 71.55% of the stock is currently owned by institutional investors.

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.