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

JPMorgan Chase & Co. (NYSE:JPM) announced a quarterly dividend on Monday, May 19th, RTT News reports. Investors of record on Thursday, July 3rd will be paid 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 2.15%. The ex-dividend date of this dividend is Thursday, July 3rd.

JPMorgan Chase & Co. has increased 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 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

Shares of JPMorgan Chase & Co. stock traded up $0.10 on Friday, hitting $260.77. 6,668,627 shares of the company traded hands, compared to its average volume of 9,576,621. The stock has a market capitalization of $724.70 billion, a P/E ratio of 13.21, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a 52 week low of $190.88 and a 52 week high of $280.25. The business has a 50-day simple moving average of $243.88 and a 200 day simple moving average of $248.32.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) 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%. JPMorgan Chase & Co.'s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.44 EPS. Research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on JPM. Baird R W raised JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. Morgan Stanley lifted their price objective on JPMorgan Chase & Co. from $235.00 to $236.00 and gave the stock an "equal weight" rating in a research note on Tuesday. KGI Securities began coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a "hold" rating on the stock. Robert W. Baird boosted their price target on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, Truist Financial set a $261.00 price target on shares of JPMorgan Chase & Co. in a research report on Monday, April 14th. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $266.20.

Insider Buying and Selling

In other news, insider Robin Leopold sold 1,250 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $246.92, for a total transaction of $308,650.00. Following the transaction, the insider now directly owns 49,127 shares of the company's stock, valued at approximately $12,130,438.84. This trade represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 6,608 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the transaction, the general counsel now directly owns 36,520 shares in the company, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,594 shares of company stock valued at $23,991,061 in the last 90 days. Company insiders own 0.47% of the company's stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A hedge fund recently raised its stake in JPMorgan Chase & Co. stock. Brighton Jones LLC raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 11.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 48,732 shares of the financial services provider's stock after purchasing an additional 4,841 shares during the period. Brighton Jones LLC's holdings in JPMorgan Chase & Co. were worth $11,682,000 at the end of the most recent reporting period. Institutional investors own 71.55% of the company's stock.

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.