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

JPMorgan Chase & Co. (NYSE:JPM) announced a quarterly dividend on Monday, May 19th, RTT News reports. Shareholders of record on Thursday, July 3rd will be given a dividend of 1.40 per share by the financial services provider on Thursday, July 31st. This represents a $5.60 annualized dividend and a yield of 2.11%. The ex-dividend date is Thursday, July 3rd.

JPMorgan Chase & Co. has raised its dividend payment by an average of 8.1% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. JPMorgan Chase & Co. has a dividend payout ratio of 28.6% indicating that its dividend is sufficiently covered by earnings. Equities research 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. Price Performance

JPM stock opened at $265.55 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The company’s 50-day moving average is $242.28 and its 200-day moving average is $247.67. The stock has a market capitalization of $737.99 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a 1 year low of $190.88 and a 1 year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same period in the prior year, the business earned $4.44 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the sale, the insider now owns 50,377 shares in the company, valued at approximately $13,606,323.93. This trade represents a 2.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. This trade represents a 19.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 138,617 shares of company stock valued at $35,600,742. 0.47% of the stock is owned by insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

An institutional investor recently raised its position in JPMorgan Chase & Co. stock. Acorns Advisers LLC lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 6.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,547 shares of the financial services provider’s stock after acquiring an additional 100 shares during the period. Acorns Advisers LLC’s holdings in JPMorgan Chase & Co. were worth $379,000 at the end of the most recent reporting period. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on JPM shares. UBS Group lifted their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Royal Bank of Canada upped their target price on shares of JPMorgan Chase & Co. from $255.00 to $285.00 and gave the stock an “outperform” rating in a report on Tuesday. Robert W. Baird raised their price objective on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a “neutral” rating in a research report on Tuesday. TD Securities boosted their price target on shares of JPMorgan Chase & Co. from $305.00 to $315.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $266.20.

About JPMorgan Chase & Co.

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.