JPMorgan Chase & Co. (NYSE:JPM) Shares Up 4% - Here's What Happened

JPMorgan Chase & Co. (NYSE:JPM)'s stock price traded up 4% during mid-day trading on Wednesday . The company traded as high as $246.79 and last traded at $244.92. 3,986,927 shares traded hands during trading, a decline of 58% from the average session volume of 9,574,802 shares. The stock had previously closed at $235.59.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on JPM shares. StockNews.com downgraded JPMorgan Chase & Co. from a "hold" rating to a "sell" rating in a report on Monday, April 14th. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a "hold" rating on the stock. Truist Financial set a $261.00 target price on shares of JPMorgan Chase & Co. in a report on Monday, April 14th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 price target on the stock in a report on Friday, January 3rd. Finally, Bank of America decreased their price objective on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $255.67.

JPMorgan Chase & Co. Price Performance

The company has a market capitalization of $676.60 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The firm's 50-day moving average is $241.63 and its 200-day moving average is $243.39.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter in the previous year, the firm posted $4.44 EPS. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. Analysts predict 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. Stockholders of record on Friday, April 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 27.49%.

Insider Activity

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the sale, the insider now owns 50,377 shares in the company, valued at approximately $13,606,323.93. This trade represents a 2.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the company's stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Insiders have sold a total of 73,545 shares of company stock valued at $19,149,144 in the last ninety days. Corporate insiders own 0.79% of the company's stock.

Institutional Investors Weigh In On JPMorgan Chase & Co.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $8,310,884,000. GAMMA Investing LLC lifted its holdings in shares of JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after buying an additional 23,465,278 shares in the last quarter. Northern Trust Corp boosted its position in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after acquiring an additional 4,515,147 shares during the last quarter. Proficio Capital Partners LLC grew its stake in JPMorgan Chase & Co. by 34,259.3% during the fourth quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider's stock valued at $838,865,000 after acquiring an additional 3,489,314 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in JPMorgan Chase & Co. by 31.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock valued at $2,561,256,000 after acquiring an additional 2,551,899 shares during the last quarter. 71.55% of the stock is owned by 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. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.