JPMorgan Chase & Co. (NYSE:JPM) Sets New 12-Month High Following Dividend Announcement

Key Points

• JPMorgan Chase & Co. shares reached a new 12-month high at $310.90 following the announcement of a dividend increase to $1.50, up from $1.40.
• The company has a current market capitalization of $850.20 billion and a dividend yield of 1.9%, with a payout ratio of 28.73%.
• Analysts have mixed ratings on the stock, with one Strong Buy, thirteen Buys, six Holds, and three Sells, resulting in a consensus price target of $292.78.

JPMorgan Chase & Co. (NYSE:JPM) shares hit a new 52-week high during trading on Wednesday after the company announced a dividend. The stock traded as high as $310.90 and last traded at $309.19, with a volume of 10518660 shares traded. The stock had previously closed at $308.90.The newly announced dividend which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a $1.50 dividend. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. HSBC reiterated a "reduce" rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Citigroup set a $275.00 price objective on JPMorgan Chase & Co. and gave the company a "buy" rating in a research report on Monday, July 7th. Phillip Securities lowered JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods boosted their target price on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and a consensus price target of $292.78.

JPMorgan Chase & Co. Price Performance

The stock has a market cap of $850.20 billion, a P/E ratio of 15.86, a PEG ratio of 2.05 and a beta of 1.13. The company has a 50 day simple moving average of $294.81 and a 200 day simple moving average of $268.04. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The company had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter in the prior year, the business posted $6.12 EPS. The business's revenue was down 10.5% compared to the same quarter last year. Sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director owned 82,207 shares in the company, valued at $24,492,753.58. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.47% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently made changes to their positions in JPM. Harbor Asset Planning Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $26,000. Mizuho Securities Co. Ltd. increased its holdings in shares of JPMorgan Chase & Co. by 450.0% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider's stock worth $32,000 after acquiring an additional 90 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $28,000. University of Illinois Foundation acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $30,000. Finally, Ryan Investment Management Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $37,000. 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.

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