JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 1% Following Dividend Announcement

JPMorgan Chase & Co. (NYSE:JPM)’s stock price rose 1% on Monday after the company announced a dividend. The stock traded as high as $301.26 and last traded at $300.9070. Approximately 7,507,488 shares traded hands during trading, a decline of 27% from the average daily volume of 10,214,358 shares. The stock had previously closed at $297.81.

The newly announced dividend which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s payout ratio is currently 28.74%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, February 24th. Evercore increased their price objective on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Friday, April 17th. The Goldman Sachs Group set a $361.00 target price on JPMorgan Chase & Co. in a report on Tuesday, April 14th. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Finally, Zacks Research cut shares of JPMorgan Chase & Co. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Fifteen research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $339.08.

JPMorgan Chase & Co. Stock Performance

The firm has a 50 day moving average of $299.94 and a two-hundred day moving average of $307.25. The stock has a market cap of $809.32 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.47 and a beta of 1.03. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.44. The company had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The company’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company posted $5.07 EPS. On average, research analysts predict that JPMorgan Chase & Co. will post 22.43 EPS for the current fiscal year.

JPMorgan Chase & Co. News Roundup

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorganChase said it is officially opening its Chase digital retail bank in Germany, expanding its consumer banking footprint in Europe and adding a new growth avenue outside the U.S. JPMorgan’s digital retail bank in Germany open for business
• Positive Sentiment: The bank will also have a visible presence at the Morgan Stanley U.S. Financials Conference, where Consumer & Community Banking CEO Marianne Lake is scheduled to present, keeping JPMorgan in the spotlight with investors. JPMorganChase to Present at the Morgan Stanley U.S. Financials Conference
• Positive Sentiment: JPMorgan also reinforced its income appeal by declaring another quarterly dividend, supporting the stock’s reputation as a large-cap bank with steady shareholder returns. JPMorganChase Declares Common Stock Dividend

Insider Buying and Selling

In other news, CEO Troy L. Rohrbaugh sold 50,000 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $307.11, for a total transaction of $15,355,500.00. Following the sale, the chief executive officer directly owned 111,279 shares of the company’s stock, valued at $34,174,893.69. This represents a 31.00% 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 5,468 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the transaction, the general counsel owned 46,428 shares of the company’s stock, valued at $13,940,935.56. This trade represents a 10.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 79,021 shares of company stock valued at $24,235,680 in the last 90 days. 0.41% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of institutional investors have recently made changes to their positions in JPM. Timmons Wealth Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $27,000. MBM Wealth Consultants LLC acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $29,000. Mountain Hill Investment Partners Corp. acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at approximately $32,000. Finally, Osbon Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at approximately $35,000. 71.55% of the stock is owned by institutional investors and hedge funds.

About JPMorgan Chase & Co.

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.