JPMorgan Chase & Co. (NYSE:JPM) Shares Up 0.2% After Dividend Announcement

JPMorgan Chase & Co. (NYSE:JPM)’s share price was up 0.2% on Tuesday following a dividend announcement from the company. The stock traded as high as $236.17 and last traded at $234.43. Approximately 2,171,198 shares were traded during trading, a decline of 75% from the average daily 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 dividend of $1.40 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.33%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on JPM shares. Oppenheimer downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Barclays boosted their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $252.89.

JPMorgan Chase & Co. Price Performance

The stock has a market capitalization of $668.84 billion, a P/E ratio of 12.12, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The business has a fifty day simple moving average of $257.92 and a 200 day simple moving average of $239.11. 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 announced its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.78. The company had revenue of $42.77 billion for 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%. JPMorgan Chase & Co.’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.04 earnings per share. On average, analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $13,606,323.93. The trade was a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the sale, the chief executive officer now owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. This trade represents a 19.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,326 shares of company stock valued at $12,448,445 in the last three months. 0.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Redwood Park Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $29,000. Sellwood Investment Partners LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $34,000. Investment Counsel Co. of Nevada purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth $37,000. Prudent Man Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at $43,000. Finally, Midwest Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $43,000. Institutional investors 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. 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.