JPMorgan Chase & Co. (NYSE:JPM) Sets New 52-Week High - Here's What Happened

JPMorgan Chase & Co. (NYSE:JPM) shares hit a new 52-week high on Tuesday . The company traded as high as $292.65 and last traded at $290.10, with a volume of 12688178 shares trading hands. The stock had previously closed at $287.11.

Analyst Ratings Changes

JPM has been the topic of a number of research analyst reports. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a "hold" rating on the stock. UBS Group lifted their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Bank of America boosted their target price on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Royal Bank Of Canada restated a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Finally, Citigroup reiterated a "neutral" rating and issued a $275.00 price objective (up previously from $250.00) on shares of JPMorgan Chase & Co. in a report on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Hold" and a consensus target price of $273.15.

JPMorgan Chase & Co. Price Performance

The stock's 50 day moving average is $262.77 and its two-hundred day moving average is $253.25. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $807.13 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 2.67 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. The firm had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The company's revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.44 earnings per share. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.93%. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.49%.

Insiders Place Their Bets

In other news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the sale, the chief operating officer owned 62,455 shares in the company, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stacey Friedman sold 2,821 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $749,567.91. Following the sale, the general counsel directly owned 68,757 shares of the company's stock, valued at approximately $18,269,422.47. This represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock worth $18,060,015 over the last 90 days. Insiders own 0.47% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in JPM. Blue Bell Private Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. by 1.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider's stock worth $622,000 after buying an additional 38 shares in the last quarter. Hurlow Wealth Management Group Inc. grew its holdings in shares of JPMorgan Chase & Co. by 0.7% during the fourth quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider's stock worth $1,328,000 after buying an additional 40 shares in the last quarter. Wimmer Associates 1 LLC lifted its stake in shares of JPMorgan Chase & Co. by 1.0% during the 4th quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock worth $986,000 after purchasing an additional 40 shares during the period. Twin Lakes Capital Management LLC boosted its stake in JPMorgan Chase & Co. by 0.3% in the 4th quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock worth $3,340,000 after buying an additional 40 shares during the last quarter. Finally, First Command Advisory Services Inc. increased its position in JPMorgan Chase & Co. by 0.4% during the first quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock worth $2,283,000 after purchasing an additional 40 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

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.