JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 2.2% - Here's What Happened

JPMorgan Chase & Co. (NYSE:JPM)'s stock price shot up 2.2% during trading on Monday . The stock traded as high as $270.95 and last traded at $270.90. 1,823,133 shares were traded during mid-day trading, a decline of 81% from the average session volume of 9,503,387 shares. The stock had previously closed at $264.95.

Analysts Set New Price Targets

Several brokerages have commented on JPM. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a "hold" rating for the company. Wells Fargo & Company upped their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an "overweight" rating in a research note on Tuesday, June 10th. TD Cowen assumed coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price target for the company. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Royal Bank of Canada reiterated a "hold" rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $269.65.

JPMorgan Chase & Co. Price Performance

The company's fifty day moving average is $253.18 and its 200 day moving average is $250.71. The firm has a market cap of $750.93 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 2.83 and a beta of 1.08. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

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 EPS for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. The firm had revenue of $45.30 billion during the quarter, compared to analysts' expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $4.44 earnings per share. On average, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is presently 27.49%.

Insider Transactions at JPMorgan Chase & Co.

In related news, CEO Troy L. Rohrbaugh sold 25,000 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the transaction, the chief executive officer now directly owns 133,381 shares of the company's stock, valued at approximately $32,947,774.62. This trade represents a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the transaction, the chief operating officer now directly owns 62,455 shares in the company, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,722 shares of company stock worth $25,599,477. 0.47% of the stock is owned by insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

A number of hedge funds have recently bought and sold shares of JPM. Fourth Dimension Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $471,000. Disciplined Investments LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $217,000. LGT Group Foundation raised its position in shares of JPMorgan Chase & Co. by 2.8% in the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider's stock valued at $126,040,000 after buying an additional 14,300 shares in the last quarter. Kinsale Capital Group Inc. raised its position in shares of JPMorgan Chase & Co. by 11.1% in the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider's stock valued at $10,483,000 after buying an additional 4,375 shares in the last quarter. Finally, Jag Capital Management LLC raised its position in shares of JPMorgan Chase & Co. by 10.5% in the 4th quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider's stock valued at $353,000 after buying an additional 140 shares in the last quarter. 71.55% of the stock is 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.