JPMorgan Chase & Co. (NYSE:JPM) Declares Quarterly Dividend of $1.40

JPMorgan Chase & Co. (NYSE:JPM) announced a quarterly dividend on Tuesday, March 18th, RTT News reports. Stockholders 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 2.30%. The ex-dividend date of this dividend is Friday, April 4th. 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% annually over the last three years and has raised its dividend every year for the last 15 years. JPMorgan Chase & Co. has a payout ratio of 27.9% meaning 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 $5.60 annual dividend with an expected future payout ratio of 28.8%.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $243.58 on Wednesday. The company has a market capitalization of $681.06 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 2.83 and a beta of 1.10. 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. has a twelve month low of $179.20 and a twelve month high of $280.25. The stock has a fifty day simple moving average of $256.88 and a 200 day simple moving average of $241.33.

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

Wall Street Analyst Weigh In

JPM has been the subject of several recent analyst reports. Evercore ISI reduced their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday. Bank of America upped their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. UBS Group boosted their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Truist Financial increased their price target on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Finally, Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a report on Friday, January 3rd. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $254.83.

Insider Activity

In other news, COO Jennifer Piepszak sold 4,273 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the completion of the transaction, the chief operating officer now directly owns 54,469 shares in the company, valued at approximately $14,698,459.65. This trade represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction dated 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 owns 50,377 shares in the company, valued at approximately $13,606,323.93. The trade was a 2.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,848 shares of company stock valued at $19,987,908. Company insiders own 0.79% of the company’s stock.

Institutional Trading of JPMorgan Chase & Co.

A hedge fund recently raised its stake in JPMorgan Chase & Co. stock. Brighton Jones LLC increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 11.0% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 48,732 shares of the financial services provider’s stock after buying 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 reporting period. 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. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.