JPMorgan Chase & Co. (NYSE:JPM) Increases Dividend to $1.40 Per Share

JPMorgan Chase & Co. (NYSE:JPM) declared a quarterly dividend on Tuesday, March 18th, RTT News reports. Investors of record on Friday, April 4th will be given a dividend of 1.40 per share by the financial services provider on Wednesday, April 30th. This represents a $5.60 annualized dividend and a dividend yield of 2.38%. This is a 12.0% increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25.

JPMorgan Chase & Co. has raised its dividend payment by an average of 8.1% annually over the last three years and has raised its dividend every year for the last 14 years. JPMorgan Chase & Co. has a dividend payout ratio of 24.9% meaning its dividend is sufficiently covered by earnings. Analysts expect JPMorgan Chase & Co. to earn $19.42 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 25.7%.

JPMorgan Chase & Co. Trading Up 0.5 %

JPM traded up $1.07 during trading on Tuesday, hitting $235.00. 10,339,680 shares of the stock traded hands, compared to its average volume of 8,842,403. The firm has a market capitalization of $657.08 billion, a P/E ratio of 11.90, a price-to-earnings-growth 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 firm has a 50-day moving average of $258.16 and a 200 day moving average of $239.04. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on JPM shares. Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their price target for the company from $215.00 to $220.00 in a research report on Friday, March 7th. Barclays raised their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. UBS Group raised their target price on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Bank of America raised their target price on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Finally, Truist Financial raised their target price on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $252.89.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of the firm’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 completion of the sale, the insider now directly owns 50,377 shares in the company, valued at approximately $13,606,323.93. This trade represents a 2.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s 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 sale, the chief executive officer now owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. This represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,326 shares of company stock worth $12,448,445. 0.79% of the stock is owned by corporate insiders.

Institutional Trading of JPMorgan Chase & Co.

An institutional investor recently raised its position in JPMorgan Chase & Co. stock. Brighton Jones LLC raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,732 shares of the financial services provider’s stock after purchasing an additional 4,841 shares during the quarter. Brighton Jones LLC’s holdings in JPMorgan Chase & Co. were worth $11,682,000 at the end of the most recent quarter. 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.