JPMorgan Chase & Co. (NYSE:JPM) Trading 2% Higher - Here's Why

JPMorgan Chase & Co. (NYSE:JPM)'s share price was up 2% during mid-day trading on Friday . The company traded as high as $252.88 and last traded at $251.88. Approximately 1,791,044 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 11,195,438 shares. The stock had previously closed at $246.89.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on JPM shares. Evercore ISI dropped their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a research report on Tuesday, April 1st. Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a "market perform" rating in a report on Thursday, January 16th. KGI Securities began coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a "hold" rating on the stock. Barclays upped their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Finally, Baird R W raised JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research note on Friday, March 7th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of "Hold" and a consensus target price of $255.67.

JPMorgan Chase & Co. Price Performance

The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The company's fifty day moving average price is $238.97 and its 200 day moving average price is $244.72. The firm has a market capitalization of $702.87 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01.

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 for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. The business had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $4.44 EPS. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th were given a dividend of $1.40 per share. The ex-dividend date was Friday, April 4th. This represents a $5.60 annualized dividend and a dividend yield of 2.22%. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.49%.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 4,273 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the sale, the chief operating officer now directly owns 54,469 shares in the company, valued at $14,698,459.65. This trade represents a 7.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the transaction, the chief executive officer now owns 158,381 shares of the company's stock, valued at $42,737,529.04. This trade represents a 19.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,545 shares of company stock valued at $19,149,144 in the last quarter. Company insiders own 0.47% of the company's stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its stake in JPMorgan Chase & Co. by 3.2% during the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider's stock valued at $1,228,110,000 after buying an additional 182,648 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of JPMorgan Chase & Co. by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider's stock valued at $3,338,955,000 after purchasing an additional 1,016,289 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of JPMorgan Chase & Co. by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider's stock worth $938,491,000 after purchasing an additional 319,730 shares during the last quarter. Confluence Investment Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $204,000. Finally, Nordea Investment Management AB boosted its holdings in JPMorgan Chase & Co. by 14.5% during the fourth quarter. Nordea Investment Management AB now owns 3,062,925 shares of the financial services provider's stock worth $735,041,000 after buying an additional 388,126 shares in the last quarter. 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.