JPMorgan Chase & Co. (NYSE:JPM) Trading Up 0.9% - Here's What Happened

JPMorgan Chase & Co. (NYSE:JPM) shot up 0.9% during trading on Thursday . The stock traded as high as $241.14 and last traded at $241.37. 1,799,777 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 8,815,620 shares. The stock had previously closed at $239.11.

Analyst Ratings Changes

A number of brokerages recently issued reports on JPM. Baird R W raised shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research report on Friday, March 7th. Bank of America lifted their price objective on 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 upped their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. UBS Group raised their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Finally, Truist Financial boosted their price target on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a "hold" rating in a report on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $252.89.

JPMorgan Chase & Co. Stock Up 1.0 %

The stock's fifty day simple moving average is $257.86 and its 200-day simple moving average is $239.35. The stock has a market cap of $675.24 billion, a P/E ratio of 12.23, a P/E/G ratio of 2.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88.

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

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date 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 currently 28.37%.

Insider Activity

In related news, General Counsel Stacey Friedman sold 3,303 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the transaction, the general counsel now directly owns 47,620 shares in the company, valued at $12,092,622.80. This represents a 6.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the sale, the chief operating officer now directly owns 54,469 shares in the company, valued at approximately $14,698,459.65. The trade was a 7.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,326 shares of company stock worth $12,448,445. Insiders own 0.79% of the company's stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Institutional investors and hedge funds have recently bought and sold shares of the company. Disciplined Investments LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $217,000. LGT Group Foundation raised its stake in shares of JPMorgan Chase & Co. by 2.8% during the fourth quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider's stock valued at $126,040,000 after acquiring an additional 14,300 shares during the last quarter. Kinsale Capital Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 11.1% during the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider's stock worth $10,483,000 after purchasing an additional 4,375 shares during the period. Jag Capital Management LLC grew its stake in shares of JPMorgan Chase & Co. by 10.5% in the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider's stock worth $353,000 after purchasing an additional 140 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in JPMorgan Chase & Co. by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider's stock valued at $938,491,000 after purchasing an additional 319,730 shares during the period. 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.