JPMorgan Chase & Co. (NYSE:JPM) Trading 2.3% Higher - Here's Why

JPMorgan Chase & Co. (NYSE:JPM)'s stock price shot up 2.3% on Tuesday . The stock traded as high as $233.73 and last traded at $234.16. 1,743,486 shares were traded during trading, a decline of 82% from the average session volume of 9,568,591 shares. The stock had previously closed at $228.99.

Analyst Ratings Changes

Several research firms recently commented on JPM. Keefe, Bruyette & Woods upped their target price on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a "market perform" rating in a research note on Thursday, January 16th. Baird R W upgraded shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research note on Friday, March 7th. Truist Financial set a $261.00 target price on JPMorgan Chase & Co. in a research report on Monday, April 14th. Evercore ISI cut their price target on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a report on Tuesday, April 1st. Finally, UBS Group boosted their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Hold" and a consensus target price of $255.67.

JPMorgan Chase & Co. Trading Down 0.5 %

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 stock has a market cap of $677.58 billion, a P/E ratio of 12.33, a P/E/G ratio of 2.83 and a beta of 1.01. The company has a 50-day simple moving average of $240.91 and a 200-day simple moving average of $243.61.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter in the prior year, the company earned $4.44 EPS. The firm's quarterly revenue was up 8.0% on a year-over-year basis. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 annualized dividend and a yield of 2.30%. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.49%.

Insider Activity

In related news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $246.92, for a total value of $308,650.00. Following the completion of the sale, the insider now directly owns 49,127 shares in the company, valued at $12,130,438.84. This trade represents a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the transaction, the chief executive officer now owns 158,381 shares in the company, 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. In the last ninety days, insiders sold 73,545 shares of company stock valued at $19,149,144. Company insiders own 0.47% of the company's stock.

Institutional Trading of JPMorgan Chase & Co.

A number of institutional investors have recently bought and sold shares of JPM. Redwood Park Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $29,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $33,000. Sellwood Investment Partners LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter worth about $34,000. Investment Counsel Co. of Nevada bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $37,000. Finally, Midwest Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Company Profile

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.