JPMorgan Chase & Co. (NYSE:JPM) Declares Dividend Increase – $1.40 Per Share

JPMorgan Chase & Co. (NYSE:JPM) announced a quarterly dividend on Tuesday, March 18th, RTT News reports. Shareholders of record on Friday, April 4th will be paid a dividend of 1.40 per share by the financial services provider on Wednesday, April 30th. This represents a $5.60 dividend on an annualized basis and a 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 increased its dividend by an average of 8.1% per year over the last three years and has increased its dividend every year for the last 14 years. JPMorgan Chase & Co. has a payout ratio of 24.9% indicating that its dividend is sufficiently covered by earnings. Equities 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. Stock Performance

JPM traded up $1.07 during midday trading on Tuesday, reaching $235.00. The company had a trading volume of 10,339,680 shares, compared to its average volume of 8,842,403. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The stock has a market cap of $657.08 billion, a PE ratio of 11.90, a P/E/G ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25. The business has a 50-day moving average price of $258.16 and a two-hundred day moving average price of $239.04.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The firm had revenue of $42.77 billion for 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 company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.04 earnings per share. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Transactions at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This represents a 6.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the transaction, the insider now directly owns 50,377 shares in the company, valued at $13,606,323.93. The trade was a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,326 shares of company stock valued at $12,448,445 in the last quarter. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A hedge fund recently raised its stake in JPMorgan Chase & Co. stock. Brighton Jones LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 48,732 shares of the financial services provider’s stock after purchasing an additional 4,841 shares during the period. Brighton Jones LLC’s holdings in JPMorgan Chase & Co. were worth $11,682,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Bank of America upped their price target on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a research note on Friday, January 3rd. Finally, Truist Financial upped their price target 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. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.89.

About JPMorgan Chase & Co.

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.