JPMorgan Chase & Co. (NYSE:JPM) Increases Dividend to $1.40 Per Share

JPMorgan Chase & Co. (NYSE:JPM) announced a quarterly dividend on Tuesday, March 18th, RTT News reports. Stockholders of record on Friday, April 4th will be paid a dividend of 1.40 per share by the financial services provider on Wednesday, April 30th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, April 4th. This is a 12.0% increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25.

JPMorgan Chase & Co. has raised its dividend by an average of 8.1% per year over the last three years and has increased its dividend every year for the last 14 years. JPMorgan Chase & Co. has a payout ratio of 24.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect JPMorgan Chase & Co. to earn $19.42 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 25.7%.

JPMorgan Chase & Co. Trading Up 0.7 %

Shares of JPM traded up $1.60 during trading hours on Friday, reaching $240.61. 6,269,635 shares of the company traded hands, compared to its average volume of 8,828,301. The firm has a market cap of $672.78 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The stock's fifty day moving average price is $257.83 and its 200 day moving average price is $239.11.

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JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. During the same period in the previous year, the firm earned $3.04 earnings per share. The business's revenue was up 10.9% on a year-over-year basis. Sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Baird R W raised shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research note on Friday, March 7th. Barclays boosted their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Bank of America boosted their target price on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a "buy" rating in a report on Tuesday, January 7th. Piper Sandler boosted their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. Finally, Wolfe Research upgraded shares of JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 price objective on the stock in a report on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and an average price target of $252.89.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the sale, the general counsel now owns 47,620 shares in the company, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold a total of 46,326 shares of company stock worth $12,448,445 over the last quarter. Insiders own 0.79% of the company's stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in JPMorgan Chase & Co. stock. Brighton Jones LLC boosted its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,732 shares of the financial services provider's stock after purchasing an additional 4,841 shares during the quarter. Brighton Jones LLC's holdings in JPMorgan Chase & Co. were worth $11,682,000 at the end of the most recent reporting period. 71.55% of the stock is currently owned by hedge funds and other 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. 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.