JPMorgan Chase & Co. (NYSE:JPM) Trading 0.2% Higher Following Dividend Announcement

Shares of JPMorgan Chase & Co. (NYSE:JPM) traded up 0.2% on Tuesday following a dividend announcement from the company. The company traded as high as $236.17 and last traded at $234.43. 2,171,198 shares traded hands during mid-day trading, a decline of 75% from the average session 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 issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.34%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.33%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Piper Sandler upped their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Bank of America upped their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. 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 report on Friday, January 3rd. Barclays upped their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $252.89.

JPMorgan Chase & Co. Stock Performance

The business has a 50 day simple moving average of $257.92 and a 200 day simple moving average of $239.11. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $668.84 billion, a PE ratio of 12.12, a PEG ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released 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 company had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same period last year, the business posted $3.04 earnings per share. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Insider Activity

In other news, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the transaction, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. This represents a 19.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the completion of the transaction, the chief operating officer now directly owns 54,469 shares in the company, valued at $14,698,459.65. This represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,326 shares of company stock valued at $12,448,445. Company insiders own 0.79% of the company’s stock.

Institutional Trading of JPMorgan Chase & Co.

Several hedge funds and other institutional investors have recently bought and sold shares of JPM. Redwood Park Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $29,000. Sellwood Investment Partners LLC acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $34,000. Investment Counsel Co. of Nevada acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $37,000. Midwest Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth approximately $43,000. Finally, Prudent Man Investment Management Inc. purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth approximately $43,000. 71.55% of the stock is owned by institutional investors and hedge funds.

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.