JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 1.2% - Here's Why

JPMorgan Chase & Co. (NYSE:JPM)'s stock price rose 1.2% on Tuesday . The company traded as high as $264.56 and last traded at $263.82. Approximately 1,940,908 shares changed hands during trading, a decline of 80% from the average daily volume of 9,555,690 shares. The stock had previously closed at $260.71.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Evercore ISI cut their price objective on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a report on Tuesday, April 1st. KGI Securities initiated coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a "hold" rating on the stock. Robert W. Baird increased their price target on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Royal Bank of Canada restated an "outperform" rating and issued a $285.00 target price (up previously from $255.00) on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Finally, Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and a consensus target price of $266.65.

JPMorgan Chase & Co. Stock Performance

The business has a fifty day moving average price of $244.84 and a 200-day moving average price of $248.69. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $733.63 billion, a P/E ratio of 13.38, a P/E/G ratio of 2.83 and a beta of 1.07.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter last year, the company earned $4.44 earnings per share. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is currently 27.49%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $246.92, for a total value of $308,650.00. Following the completion of the sale, the insider now directly owns 49,127 shares of the company's stock, valued at $12,130,438.84. This trade represents a 2.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 2,821 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $749,567.91. Following the completion of the sale, the general counsel now directly owns 68,757 shares in the company, valued at approximately $18,269,422.47. The trade was a 3.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,594 shares of company stock worth $23,991,061 over the last quarter. Company insiders own 0.47% of the company's stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Several institutional investors have recently added to or reduced their stakes in JPM. DDD Partners LLC raised its stake in shares of JPMorgan Chase & Co. by 2.8% during the fourth quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider's stock worth $339,000 after purchasing an additional 38 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 1.5% in the 4th 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 during the last quarter. Rappaport Reiches Capital Management LLC boosted its stake in JPMorgan Chase & Co. by 3.8% in the 4th quarter. Rappaport Reiches Capital Management LLC now owns 1,068 shares of the financial services provider's stock worth $256,000 after buying an additional 39 shares during the last quarter. Yoder Wealth Management Inc. boosted its stake in JPMorgan Chase & Co. by 2.8% in the 4th quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider's stock worth $344,000 after buying an additional 39 shares during the last quarter. Finally, Almanack Investment Partners LLC. boosted its stake in JPMorgan Chase & Co. by 0.8% in the 4th quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider's stock worth $1,233,000 after buying an additional 39 shares during the last quarter. 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. 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.