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

Shares of JPMorgan Chase & Co. (NYSE:JPM) traded up 0.2% during trading on Tuesday after the company announced a dividend. The company traded as high as $236.17 and last traded at $234.43. 2,171,198 shares traded hands during 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 given 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 yield of 2.34%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.33%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a research report on Friday, January 3rd. Piper Sandler raised their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods raised their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Truist Financial raised their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Finally, Bank of America raised their target price 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. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.89.

JPMorgan Chase & Co. Stock Performance

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

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same period in the previous year, the firm posted $3.04 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. As a group, analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Insider Activity

In other news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the completion of the sale, the insider now directly owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. The trade was a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at $42,737,529.04. The trade was a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,326 shares of company stock valued at $12,448,445. 0.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. DDD Partners LLC grew its stake in JPMorgan Chase & Co. by 2.8% during the 4th quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 38 shares in the last quarter. Blue Bell Private Wealth Management LLC grew its stake in JPMorgan Chase & Co. by 1.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 38 shares in the last quarter. Rappaport Reiches Capital Management LLC grew its stake in JPMorgan Chase & Co. by 3.8% during the 4th quarter. Rappaport Reiches Capital Management LLC now owns 1,068 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 39 shares in the last quarter. Yoder Wealth Management Inc. grew its stake in JPMorgan Chase & Co. by 2.8% during the 4th quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 39 shares in the last quarter. Finally, Almanack Investment Partners LLC. grew its stake in JPMorgan Chase & Co. by 0.8% during the 4th quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider’s stock worth $1,233,000 after purchasing an additional 39 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

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.