JPMorgan Chase & Co. (NYSE:JPM) Shares Up 0.4% After Dividend Announcement

JPMorgan Chase & Co. (NYSE:JPM)’s share price traded up 0.4% during trading on Tuesday following a dividend announcement from the company. The company traded as high as $266.51 and last traded at $265.94. 2,050,609 shares were traded during mid-day trading, a decline of 79% from the average session volume of 9,627,888 shares. The stock had previously closed at $264.88.

The newly announced dividend which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.11%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.49%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on JPM. Evercore ISI decreased their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. Royal Bank of Canada boosted their price objective on JPMorgan Chase & Co. from $255.00 to $285.00 and gave the stock an “outperform” rating in a research note on Tuesday. Truist Financial set a $261.00 target price on JPMorgan Chase & Co. in a research note on Monday, April 14th. Bank of America dropped their target price on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Finally, Morgan Stanley increased their price objective on shares of JPMorgan Chase & Co. from $235.00 to $236.00 and gave the company an “equal weight” rating in a research report on Tuesday. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $266.20.

JPMorgan Chase & Co. Trading Up 0.4%

The firm’s 50 day simple moving average is $241.45 and its two-hundred day simple moving average is $247.55. 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 stock has a market cap of $739.06 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. During the same quarter in the prior year, the business earned $4.44 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Activity

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 158,381 shares in the company, valued at approximately $42,737,529.04. This trade represents a 19.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the transaction, the insider now directly owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. This trade represents a 2.42% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,188 shares of company stock valued at $33,095,363. 0.47% of the stock is currently owned by insiders.

Institutional Trading of JPMorgan Chase & Co.

Several hedge funds have recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at about $28,000. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $29,000. University of Illinois Foundation acquired a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $30,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $33,000. Finally, Sellwood Investment Partners LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $34,000. 71.55% of the stock is currently owned by institutional investors.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.