JPMorgan Chase & Co. (NYSE:JPM) Trading Up 2.2% – Here’s Why

Shares of JPMorgan Chase & Co. (NYSE:JPM) traded up 2.2% on Monday . The company traded as high as $247.31 and last traded at $246.86. 2,340,650 shares changed hands during trading, a decline of 74% from the average session volume of 8,841,882 shares. The stock had previously closed at $241.63.

Analyst Ratings Changes

Several equities research analysts recently weighed in on JPM shares. Wolfe Research raised 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. Piper Sandler upped their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Bank of America increased their price target on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $215.00 to $220.00 in a research note on Friday, March 7th. Finally, Keefe, Bruyette & Woods raised 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 analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $252.89.

JPMorgan Chase & Co. Price Performance

The firm has a fifty day moving average of $257.86 and a 200 day moving average of $239.50. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $689.40 billion, a P/E ratio of 12.49, a P/E/G ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the business posted $3.04 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s payout ratio is 28.37%.

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 stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the transaction, the insider now directly owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. This trade represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were 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 $12,092,622.80. The trade was a 6.49 % decrease in their position. 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. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Redwood Park Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $29,000. Sellwood Investment Partners LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter worth $34,000. Investment Counsel Co. of Nevada bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $37,000. Prudent Man Investment Management Inc. bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $43,000. Finally, Midwest Capital Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

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.