JPMorgan Chase & Co. (NYSE:JPM) Stock Price Up 0.7% – Here’s Why

JPMorgan Chase & Co. (NYSE:JPM)’s share price rose 0.7% during mid-day trading on Tuesday . The stock traded as high as $250.10 and last traded at $249.81. Approximately 1,800,315 shares were traded during trading, a decline of 80% from the average daily volume of 8,866,464 shares. The stock had previously closed at $248.06.

Analysts Set New Price Targets

JPM has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Truist Financial boosted their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Piper Sandler lifted their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $215.00 to $220.00 in a research report on Friday, March 7th. Finally, Barclays boosted their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $252.89.

JPMorgan Chase & Co. Stock Performance

The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The stock has a market cap of $693.37 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The firm’s 50-day moving average is $257.99 and its two-hundred day moving average is $240.06.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 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 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.04 earnings per share. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.37%.

Insider Transactions at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the transaction, the insider now owns 50,377 shares in the company, valued at $13,606,323.93. This trade represents a 2.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 158,381 shares in the company, valued at approximately $42,737,529.04. This represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,848 shares of company stock worth $19,987,908. 0.79% of the stock is owned by insiders.

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. raised its position in JPMorgan Chase & Co. by 3.2% in the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after purchasing an additional 182,648 shares in the last quarter. United Bank lifted its position in shares of JPMorgan Chase & Co. by 2.5% during the 3rd quarter. United Bank now owns 25,354 shares of the financial services provider’s stock worth $5,346,000 after buying an additional 614 shares during the period. GenTrust LLC boosted its stake in JPMorgan Chase & Co. by 75.6% in the 3rd quarter. GenTrust LLC now owns 6,669 shares of the financial services provider’s stock valued at $1,406,000 after buying an additional 2,871 shares in the last quarter. Nicolet Advisory Services LLC grew its position in JPMorgan Chase & Co. by 0.7% in the third quarter. Nicolet Advisory Services LLC now owns 65,417 shares of the financial services provider’s stock valued at $13,426,000 after acquiring an additional 444 shares during the period. Finally, Certified Advisory Corp raised its stake in JPMorgan Chase & Co. by 1.0% during the third quarter. Certified Advisory Corp now owns 23,012 shares of the financial services provider’s stock worth $4,852,000 after acquiring an additional 234 shares in the last quarter. Institutional investors and hedge funds 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. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.