Persimmon (LON:PSN) Raised to "Overweight" at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Persimmon (LON:PSN - Free Report) to an overweight rating in a research note published on Friday, MarketBeat.com reports. JPMorgan Chase & Co. currently has GBX 1,510 ($19.11) price target on the stock, up from their previous price target of GBX 1,190 ($15.06).

Persimmon Price Performance

Shares of LON PSN traded up GBX 16.50 ($0.21) during mid-day trading on Friday, reaching GBX 1,282 ($16.23). The company's stock had a trading volume of 878,234 shares, compared to its average volume of 1,235,772. The stock has a 50-day moving average of GBX 1,349.80 and a two-hundred day moving average of GBX 1,278.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.04 and a current ratio of 4.54. The stock has a market capitalization of £4.09 billion, a P/E ratio of 1,610.91, a P/E/G ratio of -1.74 and a beta of 1.36. Persimmon has a 1-year low of GBX 925 ($11.71) and a 1-year high of GBX 1,501 ($19.00).

Persimmon Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, July 12th. Stockholders of record on Thursday, June 20th will be given a GBX 40 ($0.51) dividend. The ex-dividend date is Thursday, June 20th. This is a positive change from Persimmon's previous dividend of $20.00. This represents a dividend yield of 2.91%. Persimmon's dividend payout ratio is 7,500.00%.

Insider Buying and Selling

In related news, insider Dean K. Finch bought 7,621 shares of the company's stock in a transaction on Tuesday, March 12th. The stock was bought at an average cost of GBX 1,315 ($16.64) per share, for a total transaction of £100,216.15 ($126,839.83). 3.46% of the stock is currently owned by company insiders.

About Persimmon

Persimmon Plc, together with its subsidiaries, operates as a house builder in the United Kingdom. The company offers family housing under the Persimmon Homes brand name; housing under the Charles Church brand name; and social housing under the Westbury Partnerships brand name. It also provides broadband services under the FibreNest brand; and timber frame, insulated wall panels, and roof cassettes under the brand Space4.