JPMorgan Chase & Co. Announces Quarterly Dividend of $0.80 (JPM)

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JPMorgan Chase & Co. (NYSE:JPM) announced a quarterly dividend on Tuesday, May 21st, RTT News reports. Shareholders of record on Friday, July 5th will be given a dividend of 0.80 per share by the financial services provider on Wednesday, July 31st. This represents a $3.20 annualized dividend and a yield of 2.86%.

JPMorgan Chase & Co. has increased its dividend by an average of 13.9% annually over the last three years and has increased its dividend every year for the last 8 years. JPMorgan Chase & Co. has a dividend payout ratio of 34.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect JPMorgan Chase & Co. to earn $10.69 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 29.9%.

JPM traded up $0.38 on Tuesday, hitting $111.73. 7,113,373 shares of the company traded hands, compared to its average volume of 13,058,792. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.25. The company has a market cap of $383.45 billion, a PE ratio of 12.41, a P/E/G ratio of 1.58 and a beta of 1.16. JPMorgan Chase & Co. has a 12-month low of $91.11 and a 12-month high of $119.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $2.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.32 by $0.33. The firm had revenue of $29.12 billion during the quarter, compared to the consensus estimate of $27.95 billion. JPMorgan Chase & Co. had a return on equity of 14.23% and a net margin of 24.28%. During the same period in the prior year, the business earned $2.37 EPS. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 10 EPS for the current fiscal year.

In other news, General Counsel Stacey Friedman sold 3,710 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $109.75, for a total transaction of $407,172.50. Following the completion of the transaction, the general counsel now directly owns 23,650 shares of the company’s stock, valued at approximately $2,595,587.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Douglas B. Petno sold 18,303 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $109.74, for a total value of $2,008,571.22. Following the transaction, the chief executive officer now directly owns 259,386 shares of the company’s stock, valued at $28,465,019.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,573 shares of company stock valued at $17,293,454. Company insiders own 0.76% of the company’s stock.

Several hedge funds have recently modified their holdings of JPM. BlackRock Inc. grew its holdings in shares of JPMorgan Chase & Co. by 3.2% in the 1st quarter. BlackRock Inc. now owns 221,952,699 shares of the financial services provider’s stock worth $22,468,272,000 after acquiring an additional 6,864,576 shares during the period. Northern Trust Corp grew its holdings in JPMorgan Chase & Co. by 1.8% during the 4th quarter. Northern Trust Corp now owns 46,678,266 shares of the financial services provider’s stock valued at $4,556,732,000 after buying an additional 826,697 shares during the last quarter. Geode Capital Management LLC grew its holdings in JPMorgan Chase & Co. by 4.3% during the 1st quarter. Geode Capital Management LLC now owns 42,328,692 shares of the financial services provider’s stock valued at $4,277,795,000 after buying an additional 1,739,528 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in JPMorgan Chase & Co. by 5,338.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 39,471,964 shares of the financial services provider’s stock valued at $404,000 after buying an additional 38,746,167 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in JPMorgan Chase & Co. by 9.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 23,166,440 shares of the financial services provider’s stock valued at $2,345,115,000 after buying an additional 1,960,254 shares during the last quarter. 69.48% of the stock is owned by institutional investors and hedge funds.

Several research firms have commented on JPM. Zacks Investment Research raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Morgan Stanley upped their price objective on JPMorgan Chase & Co. from $124.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. HSBC set a $102.00 price objective on JPMorgan Chase & Co. and gave the company a “neutral” rating in a research note on Thursday, April 4th. Credit Suisse Group upped their price objective on JPMorgan Chase & Co. from $128.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, BMO Capital Markets upped their price objective on JPMorgan Chase & Co. from $116.00 to $118.00 and gave the company a “market perform” rating in a research note on Monday, April 15th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $123.85.

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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 and investment products 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, payment processing, auto loan, and leasing services.

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

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