JPMorgan Chase & Co. (NYSE:JPM) Trading 2.2% Higher - Here's Why

JPMorgan Chase & Co. (NYSE:JPM) shares rose 2.2% during mid-day trading on Monday . The company traded as high as $247.31 and last traded at $246.86. Approximately 2,340,650 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 8,841,882 shares. The stock had previously closed at $241.63.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. Barclays upped their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a "market perform" rating in a report on Thursday, January 16th. Wolfe Research raised JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 target price for the company in a report on Friday, January 3rd. Finally, Bank of America upped their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and a consensus target price of $252.89.

JPMorgan Chase & Co. Stock Down 1.1 %

The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The firm has a market capitalization of $694.30 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 2.83 and a beta of 1.10. The firm has a fifty day moving average price of $257.99 and a 200 day moving average price of $240.06.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be paid a $1.40 dividend. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. This represents a $5.60 annualized dividend and a dividend yield of 2.26%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.37%.

Insiders Place Their Bets

In related news, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the transaction, the chief executive officer now directly owns 158,381 shares of the company's stock, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Robin Leopold sold 1,250 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the transaction, the insider now directly owns 49,127 shares of the company's stock, valued at approximately $12,130,438.84. This trade represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,848 shares of company stock worth $19,987,908. 0.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Several hedge funds have recently bought and sold shares of JPM. Disciplined Investments LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $217,000. LGT Group Foundation boosted its position in 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 worth $126,040,000 after acquiring an additional 14,300 shares during the last quarter. Kinsale Capital Group Inc. grew its stake in JPMorgan Chase & Co. by 11.1% in the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider's stock worth $10,483,000 after acquiring an additional 4,375 shares during the period. Jag Capital Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 10.5% during the 4th 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 period. Finally, JPMorgan Chase & Co. grew its position in shares of 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. Hedge funds and other institutional investors 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.