JPMorgan Chase & Co. (NYSE:JPM) Shares Up 0.9% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM)’s share price shot up 0.9% on Thursday . The company traded as high as $241.14 and last traded at $241.37. 1,799,777 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 8,815,620 shares. The stock had previously closed at $239.11.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and upped their target price for the company from $215.00 to $220.00 in a research note on Friday, March 7th. Truist Financial increased their target price on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Piper Sandler lifted their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Barclays upped their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective on the stock in a research report on Friday, January 3rd. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.89.

JPMorgan Chase & Co. Stock Up 0.0 %

The company has a market cap of $668.76 billion, a P/E ratio of 12.12, a PEG ratio of 2.83 and a beta of 1.10. 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 business’s 50 day moving average price is $257.92 and its 200-day moving average price is $239.11.

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 (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. During the same quarter in the previous year, the company posted $3.04 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.34%. The ex-dividend date is Friday, April 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.33%.

Insider Transactions at JPMorgan Chase & Co.

In other news, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at $42,737,529.04. This represents a 19.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the sale, the general counsel now directly owns 47,620 shares in the company, valued at $12,092,622.80. This trade represents a 6.49 % 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 worth $12,448,445. Corporate insiders own 0.79% of the company’s stock.

Institutional Trading of JPMorgan Chase & Co.

Several hedge funds have recently modified their holdings of JPM. Principal Financial Group Inc. boosted its position in shares of JPMorgan Chase & Co. by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after purchasing an additional 182,648 shares during the last quarter. United Bank boosted its holdings in JPMorgan Chase & Co. by 2.5% during the third quarter. United Bank now owns 25,354 shares of the financial services provider’s stock worth $5,346,000 after buying an additional 614 shares during the last quarter. Intellectus Partners LLC grew its position in shares of JPMorgan Chase & Co. by 2.6% during the 3rd quarter. Intellectus Partners LLC now owns 19,767 shares of the financial services provider’s stock worth $4,168,000 after buying an additional 500 shares during the period. CIBC Asset Management Inc increased its stake in shares of JPMorgan Chase & Co. by 6.3% in the 3rd quarter. CIBC Asset Management Inc now owns 498,375 shares of the financial services provider’s stock valued at $105,012,000 after acquiring an additional 29,470 shares during the last quarter. Finally, First Business Financial Services Inc. raised its position in shares of JPMorgan Chase & Co. by 2.4% in the 3rd quarter. First Business Financial Services Inc. now owns 30,907 shares of the financial services provider’s stock valued at $6,517,000 after acquiring an additional 712 shares during the period. 71.55% of the stock is owned by institutional investors.

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.