JPMorgan Chase & Co. (NYSE:JPM) Plans $1.00 Quarterly Dividend

JPMorgan Chase & Co. (NYSE:JPM) declared a quarterly dividend on Monday, May 16th, RTT News reports. Shareholders of record on Wednesday, July 6th will be given a dividend of 1.00 per share by the financial services provider on Sunday, July 31st. This represents a $4.00 annualized dividend and a yield of 3.27%.

JPMorgan Chase & Co. has raised its dividend by an average of 11.8% annually over the last three years and has raised its dividend every year for the last 11 years. JPMorgan Chase & Co. has a dividend payout ratio of 31.9% meaning its dividend is sufficiently covered by earnings. Analysts expect JPMorgan Chase & Co. to earn $12.79 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 31.3%.

NYSE JPM opened at $122.18 on Wednesday. The firm’s fifty day simple moving average is $130.15 and its two-hundred day simple moving average is $147.31. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. JPMorgan Chase & Co. has a 12-month low of $115.37 and a 12-month high of $172.96. The firm has a market capitalization of $358.85 billion, a P/E ratio of 9.06, a P/E/G ratio of 2.14 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last released its quarterly earnings results on Wednesday, April 13th. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.73 by ($0.10). JPMorgan Chase & Co. had a return on equity of 16.58% and a net margin of 33.61%. The firm had revenue of $30.72 billion during the quarter, compared to analysts’ expectations of $30.53 billion. During the same period in the prior year, the firm posted $4.50 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 11.13 earnings per share for the current fiscal year.

Several research firms have issued reports on JPM. Berenberg Bank set a $120.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, April 19th. Barclays set a $200.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday. Morgan Stanley lowered their price objective on shares of JPMorgan Chase & Co. from $170.00 to $161.00 and set an “underweight” rating for the company in a research note on Monday, March 28th. UBS Group set a $197.00 price objective on shares of JPMorgan Chase & Co. in a research note on Wednesday, March 2nd. Finally, The Goldman Sachs Group set a $151.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research note on Thursday, April 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $163.00.

In other news, insider Ashley Bacon sold 21,012 shares of the stock in a transaction that occurred on Tuesday, April 19th. The shares were sold at an average price of $130.04, for a total value of $2,732,400.48. Following the completion of the sale, the insider now owns 178,588 shares of the company’s stock, valued at approximately $23,223,583.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jennifer Piepszak sold 4,668 shares of the company’s stock in a transaction that occurred on Thursday, April 14th. The stock was sold at an average price of $126.19, for a total transaction of $589,054.92. Following the completion of the transaction, the chief executive officer now owns 11,135 shares in the company, valued at $1,405,125.65. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Carroll Investors Inc acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $30,000. Monolith Advisors acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $59,000. Worth Asset Management LLC acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $148,000. Quantbot Technologies LP acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $238,000. Finally, Tatro Capital LLC lifted its holdings in JPMorgan Chase & Co. by 17.1% during the 1st quarter. Tatro Capital LLC now owns 1,975 shares of the financial services provider’s stock worth $269,000 after buying an additional 289 shares in the last quarter. Hedge funds and other institutional investors own 70.35% of the company’s stock.

JPMorgan Chase & Co. Company Profile (Get Rating)

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

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Dividend History for JPMorgan Chase & Co. (NYSE:JPM)

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