JPMorgan Chase & Co. (NYSE:JPM) Shares Up 0.9% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM)’s stock price traded up 0.9% on Thursday . The stock traded as high as $241.14 and last traded at $241.37. 1,799,777 shares changed hands during trading, a decline of 80% from the average session volume of 8,815,620 shares. The stock had previously closed at $239.11.

Wall Street Analyst Weigh In

Several research analysts have issued reports on JPM shares. UBS Group upped their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $215.00 to $220.00 in a research report on Friday, March 7th. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research note on Friday, January 3rd. Finally, Keefe, Bruyette & Woods boosted their target price 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. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $252.89.

JPMorgan Chase & Co. Price Performance

The firm has a market cap of $675.24 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The stock’s 50-day moving average price is $257.86 and its 200 day moving average price is $239.22. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a yield of 2.32%. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.37%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the sale, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,326 shares of company stock valued at $12,448,445. 0.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Disciplined Investments LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $217,000. LGT Group Foundation lifted its holdings in 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 worth $126,040,000 after buying an additional 14,300 shares in the last quarter. Kinsale Capital Group Inc. boosted its position in 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 buying an additional 4,375 shares during the last quarter. Jag Capital Management LLC increased its stake 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 valued at $353,000 after buying an additional 140 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of JPMorgan Chase & Co. by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock worth $938,491,000 after acquiring an additional 319,730 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

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.