JPMorgan Chase & Co. (NYSE:JPM) announced a quarterly dividend on Monday, May 16th, RTT News reports. Shareholders of record on Wednesday, July 6th will be paid a dividend of 1.00 per share by the financial services provider on Sunday, July 31st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Tuesday, July 5th.
JPMorgan Chase & Co. has raised its dividend by an average of 11.8% per year over the last three years and has raised its dividend every year for the last 11 years. JPMorgan Chase & Co. has a dividend payout ratio of 31.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect JPMorgan Chase & Co. to earn $12.86 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 31.1%.
Shares of JPM stock opened at $114.05 on Monday. The stock has a 50 day moving average of $121.46 and a two-hundred day moving average of $137.31. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. JPMorgan Chase & Co. has a 12 month low of $110.93 and a 12 month high of $172.96. The company has a market capitalization of $334.97 billion, a P/E ratio of 8.46, a P/E/G ratio of 2.03 and a beta of 1.15.
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted its earnings results on Wednesday, April 13th. The financial services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.73 by ($0.10). The company had revenue of $30.72 billion for the quarter, compared to the consensus estimate of $30.53 billion. JPMorgan Chase & Co. had a return on equity of 16.58% and a net margin of 33.61%. JPMorgan Chase & Co.’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the business earned $4.50 EPS. Sell-side analysts predict that JPMorgan Chase & Co. will post 11.25 earnings per share for the current fiscal year.
Several equity analysts recently commented on the company. BMO Capital Markets raised their target price on JPMorgan Chase & Co. from $150.00 to $156.00 in a research report on Tuesday, May 24th. StockNews.com assumed coverage on JPMorgan Chase & Co. in a research report on Thursday, March 31st. They set a “hold” rating for the company. Societe Generale upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised their target price for the stock from $145.00 to $150.00 in a research report on Tuesday, May 24th. Royal Bank of Canada set a $175.00 target price on JPMorgan Chase & Co. and gave the stock an “outperform” rating in a research report on Thursday, April 14th. Finally, Morgan Stanley dropped their price target on JPMorgan Chase & Co. from $152.00 to $149.00 and set an “underweight” rating for the company in a report on Friday, June 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $159.33.
In other news, insider Ashley Bacon sold 21,012 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, April 19th. The stock was sold at an average price of $130.04, for a total value of $2,732,400.48. Following the completion of the sale, the insider now directly owns 178,588 shares of the company’s stock, valued at approximately $23,223,583.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jennifer Piepszak sold 4,668 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, April 14th. The shares were sold at an average price of $126.19, for a total value of $589,054.92. Following the completion of the sale, the chief executive officer now directly owns 11,135 shares of the company’s stock, valued at $1,405,125.65. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of JPM. Arrowstreet Capital Limited Partnership boosted its position in shares of JPMorgan Chase & Co. by 7,427.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,664,092 shares of the financial services provider’s stock worth $363,169,000 after purchasing an additional 2,628,701 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of JPMorgan Chase & Co. by 4.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,607,661 shares of the financial services provider’s stock worth $2,536,598,000 after purchasing an additional 805,196 shares during the last quarter. First Trust Advisors LP boosted its position in shares of JPMorgan Chase & Co. by 29.4% in the 1st quarter. First Trust Advisors LP now owns 2,240,340 shares of the financial services provider’s stock worth $305,403,000 after purchasing an additional 508,841 shares during the last quarter. Cowa LLC boosted its position in shares of JPMorgan Chase & Co. by 8,262.7% in the 1st quarter. Cowa LLC now owns 337,601 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 333,564 shares during the last quarter. Finally, Mariner LLC boosted its position in shares of JPMorgan Chase & Co. by 15.9% in the 1st quarter. Mariner LLC now owns 1,311,209 shares of the financial services provider’s stock worth $178,749,000 after purchasing an additional 179,473 shares during the last quarter. Institutional investors and hedge funds own 70.35% of the company’s stock.
About JPMorgan Chase & Co. (Get Rating)
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments. Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.
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