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

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. KGI Securities started coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a “hold” rating for the company. 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 report on Wednesday, April 2nd. Cowen began coverage on shares of JPMorgan Chase & Co. in a report on Wednesday, May 14th. They set a “buy” rating on the stock. Robert W. Baird raised their price objective on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, TD Securities lifted their price objective on shares of JPMorgan Chase & Co. from $305.00 to $315.00 and gave the stock a “buy” rating in a research report on Tuesday. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $266.20.

JPMorgan Chase & Co. Stock Performance

The firm’s 50 day moving average price is $241.45 and its 200-day moving average price is $247.55. The firm has a market cap of $739.06 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 2.83 and a beta of 1.07. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

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

Insider Activity

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,273 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the completion of the transaction, the chief operating officer now directly owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. The trade was a 7.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the transaction, the chief executive officer now owns 158,381 shares in the company, 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. In the last quarter, insiders have sold 129,188 shares of company stock worth $33,095,363. Corporate insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Disciplined Investments LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $217,000. LGT Group Foundation raised its position in shares of JPMorgan Chase & Co. by 2.8% during the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock valued at $126,040,000 after acquiring an additional 14,300 shares during the last quarter. Kinsale Capital Group Inc. lifted its stake in shares of JPMorgan Chase & Co. by 11.1% in the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock valued at $10,483,000 after purchasing an additional 4,375 shares during the period. Jag Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. by 10.5% in the 4th quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock worth $353,000 after purchasing an additional 140 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings 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 valued at $938,491,000 after purchasing an additional 319,730 shares during the last quarter. 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. 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.