JPMorgan Chase & Co. (NYSE:JPM) Trading Up 0.4% Following Dividend Announcement

Shares of JPMorgan Chase & Co. (NYSE:JPM) rose 0.4% during mid-day trading on Tuesday following a dividend announcement from the company. The company traded as high as $266.51 and last traded at $265.94. Approximately 2,050,609 shares traded hands during mid-day trading, a decline of 79% from the average daily 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. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 2.11%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on JPM. Royal Bank of Canada increased their price target on shares of JPMorgan Chase & Co. from $255.00 to $285.00 and gave the stock an “outperform” rating in a research report on Tuesday. Bank of America decreased their target price on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Truist Financial set a $261.00 price target on shares of JPMorgan Chase & Co. in a report on Monday, April 14th. UBS Group increased their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Finally, Cowen initiated coverage on JPMorgan Chase & Co. in a research note on Wednesday, May 14th. They issued a “buy” rating on the stock. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $266.20.

JPMorgan Chase & Co. Stock Up 0.3%

The firm has a 50-day moving average of $242.28 and a two-hundred day moving average of $247.67. The firm has a market cap of $737.99 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 2.83 and a beta of 1.07. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

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

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $246.92, for a total value of $308,650.00. Following the sale, the insider now directly owns 49,127 shares in the company, valued at $12,130,438.84. This trade represents a 2.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the completion of the sale, the general counsel now owns 36,520 shares of the company’s stock, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 138,617 shares of company stock valued at $35,600,742. 0.47% of the stock is owned by company insiders.

Institutional Trading of JPMorgan Chase & Co.

Several institutional investors have recently modified their holdings of JPM. JPMorgan Chase & Co. raised its position in JPMorgan Chase & Co. by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock worth $938,491,000 after purchasing an additional 319,730 shares in the last quarter. Regent Peak Wealth Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 2.3% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 6,517 shares of the financial services provider’s stock worth $1,562,000 after buying an additional 148 shares in the last quarter. Capital & Planning LLC raised its holdings in shares of JPMorgan Chase & Co. by 13.3% in the 4th quarter. Capital & Planning LLC now owns 2,357 shares of the financial services provider’s stock worth $565,000 after buying an additional 276 shares in the last quarter. Trust Co of Kansas bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $215,000. Finally, Arkadios Wealth Advisors boosted its stake in JPMorgan Chase & Co. by 6.1% in the 4th quarter. Arkadios Wealth Advisors now owns 85,609 shares of the financial services provider’s stock valued at $20,521,000 after buying an additional 4,928 shares in 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. 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.