JPMorgan Chase & Co. (NYSE:JPM) announced a quarterly dividend on Tuesday, March 20th, RTT News reports. Stockholders of record on Friday, April 6th will be given a dividend of 0.56 per share by the financial services provider on Monday, April 30th. This represents a $2.24 annualized dividend and a dividend yield of 1.95%.
JPMorgan Chase & Co. has increased its dividend payment by an average of 9.4% per year over the last three years and has raised its dividend every year for the last 7 years. JPMorgan Chase & Co. has a payout ratio of 32.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect JPMorgan Chase & Co. to earn $9.67 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 23.2%.
JPM stock traded up $0.05 on Wednesday, hitting $114.69. The stock had a trading volume of 1,161,350 shares, compared to its average volume of 15,480,372. The firm has a market cap of $393,062.25, a price-to-earnings ratio of 18.20, a P/E/G ratio of 1.93 and a beta of 1.18. JPMorgan Chase & Co. has a 12 month low of $81.64 and a 12 month high of $119.33. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.24.
JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, January 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.07. The company had revenue of $24.15 billion for the quarter, compared to analyst estimates of $24.87 billion. JPMorgan Chase & Co. had a return on equity of 11.63% and a net margin of 21.46%. JPMorgan Chase & Co.’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.71 EPS. equities analysts anticipate that JPMorgan Chase & Co. will post 8.9 EPS for the current year.
In other news, insider Ashley Bacon sold 16,434 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $112.22, for a total transaction of $1,844,223.48. Following the sale, the insider now directly owns 98,811 shares of the company’s stock, valued at $11,088,570.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter Scher sold 26,532 shares of JPMorgan Chase & Co. stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $113.42, for a total value of $3,009,259.44. The disclosure for this sale can be found here. Insiders have sold 152,047 shares of company stock worth $17,098,115 over the last three months. Insiders own 0.88% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Beach Investment Management LLC. raised its position in shares of JPMorgan Chase & Co. by 1,117.4% during the second quarter. Beach Investment Management LLC. now owns 559,171 shares of the financial services provider’s stock worth $51,108,000 after acquiring an additional 513,241 shares during the last quarter. Smith Chas P & Associates PA Cpas increased its holdings in JPMorgan Chase & Co. by 0.4% in the second quarter. Smith Chas P & Associates PA Cpas now owns 282,482 shares of the financial services provider’s stock worth $25,819,000 after purchasing an additional 1,220 shares in the last quarter. Miracle Mile Advisors LLC increased its holdings in JPMorgan Chase & Co. by 13.5% in the second quarter. Miracle Mile Advisors LLC now owns 4,360 shares of the financial services provider’s stock worth $399,000 after purchasing an additional 517 shares in the last quarter. Apriem Advisors increased its holdings in JPMorgan Chase & Co. by 3.9% in the second quarter. Apriem Advisors now owns 68,022 shares of the financial services provider’s stock worth $6,217,000 after purchasing an additional 2,550 shares in the last quarter. Finally, Cadence Capital Management LLC increased its holdings in JPMorgan Chase & Co. by 5.3% in the second quarter. Cadence Capital Management LLC now owns 179,581 shares of the financial services provider’s stock worth $16,414,000 after purchasing an additional 9,105 shares in the last quarter. 74.47% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently issued reports on JPM shares. Buckingham Research raised JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating in a report on Thursday, December 21st. Wells Fargo set a $120.00 price objective on JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Wednesday, December 20th. Royal Bank of Canada reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Friday, December 8th. Credit Suisse Group raised JPMorgan Chase & Co. to a “buy” rating and set a $120.00 price objective on the stock in a research note on Friday, January 5th. Finally, Vining Sparks reaffirmed a “buy” rating and issued a $120.00 price objective on shares of JPMorgan Chase & Co. in a research note on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $111.03.
WARNING: This piece of content was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece of content on another website, it was stolen and reposted in violation of United States and international copyright & trademark laws. The correct version of this piece of content can be read at https://www.dispatchtribunal.com/2018/03/21/jpmorgan-chase-co-jpm-announces-0-56-quarterly-dividend.html.
JPMorgan Chase & Co. Company Profile
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.