JPMorgan Chase & Co. (NYSE:JPM) Announces Dividend Increase – $1.05 Per Share

JPMorgan Chase & Co. (NYSE:JPM) announced a quarterly dividend on Tuesday, September 19th, RTT News reports. Investors of record on Friday, October 6th will be given a dividend of 1.05 per share by the financial services provider on Tuesday, October 31st. This represents a $4.20 annualized dividend and a yield of 2.82%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00.

JPMorgan Chase & Co. has raised its dividend payment by an average of 6.6% per year over the last three years. JPMorgan Chase & Co. has a dividend payout ratio of 27.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect JPMorgan Chase & Co. to earn $14.69 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 27.2%.

JPMorgan Chase & Co. Stock Down 0.1 %

JPM traded down $0.19 during trading on Tuesday, hitting $148.93. The company had a trading volume of 7,942,758 shares, compared to its average volume of 11,347,146. The company has a market cap of $432.80 billion, a PE ratio of 9.58, a P/E/G ratio of 1.91 and a beta of 1.11. The business has a 50-day moving average of $150.88 and a 200-day moving average of $141.59. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.90 and a quick ratio of 0.90. JPMorgan Chase & Co. has a 1-year low of $101.28 and a 1-year high of $159.38.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, July 14th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.75. The company had revenue of $42.40 billion for the quarter, compared to analysts’ expectations of $38.66 billion. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. The firm’s revenue was up 34.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.76 earnings per share. As a group, analysts forecast that JPMorgan Chase & Co. will post 15.57 earnings per share for the current year.

Wall Street Analyst Weigh In

JPM has been the topic of a number of research reports. Societe Generale cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Monday, July 10th. HSBC started coverage on shares of JPMorgan Chase & Co. in a report on Thursday, September 7th. They set a “hold” rating and a $159.00 target price on the stock. Atlantic Securities increased their price objective on shares of JPMorgan Chase & Co. from $150.00 to $160.00 and gave the stock a “neutral” rating in a report on Tuesday, August 1st. StockNews.com started coverage on shares of JPMorgan Chase & Co. in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Jefferies Financial Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and increased their price objective for the stock from $149.00 to $165.00 in a report on Tuesday, July 11th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $167.21.

Insider Activity

In other news, General Counsel Stacey Friedman sold 4,310 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total transaction of $624,346.60. Following the completion of the transaction, the general counsel now owns 53,425 shares in the company, valued at approximately $7,739,145.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Large investors have recently made changes to their positions in the business. Goepper Burkhardt LLC boosted its holdings in shares of JPMorgan Chase & Co. by 3.6% in the fourth quarter. Goepper Burkhardt LLC now owns 2,196 shares of the financial services provider’s stock worth $294,000 after buying an additional 76 shares during the period. Smith Anglin Financial LLC boosted its holdings in shares of JPMorgan Chase & Co. by 4.7% in the fourth quarter. Smith Anglin Financial LLC now owns 2,047 shares of the financial services provider’s stock worth $275,000 after buying an additional 91 shares during the period. Koss Olinger Consulting LLC boosted its holdings in shares of JPMorgan Chase & Co. by 3.1% in the first quarter. Koss Olinger Consulting LLC now owns 3,377 shares of the financial services provider’s stock worth $440,000 after buying an additional 100 shares during the period. Kidder Stephen W boosted its holdings in shares of JPMorgan Chase & Co. by 2.7% in the first quarter. Kidder Stephen W now owns 3,737 shares of the financial services provider’s stock worth $510,000 after buying an additional 100 shares during the period. Finally, Westside Investment Management Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 1.9% in the first quarter. Westside Investment Management Inc. now owns 5,229 shares of the financial services provider’s stock worth $682,000 after buying an additional 100 shares during the period. Institutional investors own 68.94% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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 deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.