JPMorgan Chase & Co. (NYSE:JPM) Declares Dividend Increase – $1.15 Per Share

JPMorgan Chase & Co. (NYSE:JPM) declared a quarterly dividend on Tuesday, March 19th, RTT News reports. Stockholders of record on Friday, April 5th will be given a dividend of 1.15 per share by the financial services provider on Tuesday, April 30th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Thursday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05.

JPMorgan Chase & Co. has increased its dividend by an average of 4.0% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. JPMorgan Chase & Co. has a dividend payout ratio of 25.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect JPMorgan Chase & Co. to earn $15.88 per share next year, which means the company should continue to be able to cover its $4.20 annual dividend with an expected future payout ratio of 26.4%.

JPMorgan Chase & Co. Stock Down 0.0 %

JPM stock opened at $198.86 on Wednesday. The firm has a 50-day moving average price of $184.65 and a 200-day moving average price of $165.22. The stock has a market capitalization of $572.79 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 2.53 and a beta of 1.15. JPMorgan Chase & Co. has a 12 month low of $126.22 and a 12 month high of $200.94. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last announced its quarterly earnings data on Friday, January 12th. The financial services provider reported $3.04 EPS for the quarter, missing the consensus estimate of $3.73 by ($0.69). The company had revenue of $38.57 billion for the quarter, compared to analyst estimates of $39.73 billion. JPMorgan Chase & Co. had a return on equity of 17.80% and a net margin of 20.70%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the business earned $3.57 EPS. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 15.75 EPS for the current fiscal year.

Insider Activity

In other news, insider Ashley Bacon sold 3,368 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $166.73, for a total transaction of $561,546.64. Following the sale, the insider now directly owns 205,461 shares in the company, valued at $34,256,512.53. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Jennifer Piepszak sold 1,648 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $178.96, for a total transaction of $294,926.08. Following the completion of the transaction, the chief executive officer now owns 32,819 shares of the company’s stock, valued at $5,873,288.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ashley Bacon sold 3,368 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $166.73, for a total value of $561,546.64. Following the transaction, the insider now directly owns 205,461 shares of the company’s stock, valued at approximately $34,256,512.53. The disclosure for this sale can be found here. Insiders have sold a total of 849,303 shares of company stock worth $155,107,447 over the last ninety days. Company insiders own 0.79% of the company’s stock.

Institutional Trading of JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently bought and sold shares of the company. True Wealth Design LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth approximately $76,000. Main Street Group LTD purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth approximately $92,000. Quarry LP boosted its stake in JPMorgan Chase & Co. by 308.6% in the first quarter. Quarry LP now owns 756 shares of the financial services provider’s stock worth $99,000 after buying an additional 571 shares in the last quarter. Worth Asset Management LLC bought a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $148,000. Finally, KB Financial Partners LLC bought a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $179,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on JPM shares. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $186.00 to $212.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and lifted their price target for the company from $140.00 to $190.00 in a research report on Tuesday, January 9th. Morgan Stanley lifted their price target on shares of JPMorgan Chase & Co. from $191.00 to $221.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Finally, Piper Sandler lifted their price objective on shares of JPMorgan Chase & Co. from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $181.63.

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JPMorgan Chase & Co. Company Profile

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JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.

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Dividend History for JPMorgan Chase & Co. (NYSE:JPM)

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