JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 0.8% - Here's What Happened

JPMorgan Chase & Co. (NYSE:JPM)'s stock price shot up 0.8% during trading on Tuesday . The stock traded as high as $262.47 and last traded at $262.07. 1,952,614 shares traded hands during trading, a decline of 80% from the average session volume of 9,605,013 shares. The stock had previously closed at $260.05.

Analysts Set New Price Targets

Several brokerages have recently commented on JPM. UBS Group upped their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Truist Financial set a $261.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday, April 14th. Bank of America decreased their price target on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Baird R W raised shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research note on Friday, March 7th. Finally, KGI Securities started coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a "hold" rating for the company. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $258.26.

JPMorgan Chase & Co. Trading Up 0.0%

The company has a market cap of $738.39 billion, a P/E ratio of 13.46, a P/E/G ratio of 2.83 and a beta of 1.07. The stock's 50-day moving average is $239.24 and its two-hundred day moving average is $246.33. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. The company had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.44 earnings per share. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th were given a $1.40 dividend. The ex-dividend date was Friday, April 4th. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a yield of 2.11%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

Insiders Place Their Bets

In other news, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the sale, the chief executive officer now directly owns 158,381 shares in the company, valued at $42,737,529.04. This trade represents a 19.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the sale, the director now owns 91,539 shares in the company, valued at $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 129,188 shares of company stock worth $33,095,363. Company insiders own 0.47% of the company's stock.

Institutional Trading of JPMorgan Chase & Co.

Several institutional investors and hedge funds have recently modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth about $28,000. Redwood Park Advisors LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at about $29,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at about $30,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at about $33,000. Finally, Sellwood Investment Partners LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at about $34,000. 71.55% of the stock is currently owned by institutional investors.

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.