JPMorgan Chase & Co. (NYSE:JPM) Increases Dividend to $1.65 Per Share

JPMorgan Chase & Co. (NYSE:JPM) declared a quarterly dividend on Tuesday, September 15th. Shareholders of record on Tuesday, October 6th will be paid a dividend of 1.65 per share by the financial services provider on Saturday, October 31st. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, October 6th. This is a 10.0% increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.50.

JPMorgan Chase & Co. has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 15 consecutive years. JPMorgan Chase & Co. has a dividend payout ratio of 30.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect JPMorgan Chase & Co. to earn $25.04 per share next year, which means the company should continue to be able to cover its $6.00 annual dividend with an expected future payout ratio of 24.0%.

JPMorgan Chase & Co. Stock Up 1.1%

JPMorgan Chase & Co. stock opened at $354.10 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.30. The firm has a 50 day moving average price of $352.81 and a 200-day moving average price of $323.02. JPMorgan Chase & Co. has a twelve month low of $279.10 and a twelve month high of $366.50. The company has a market capitalization of $941.27 billion, a P/E ratio of 15.17, a P/E/G ratio of 1.44 and a beta of 0.98.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $6.14 EPS for the quarter, topping the consensus estimate of $5.59 by $0.55. The company had revenue of $58.02 billion during the quarter, compared to the consensus estimate of $50.72 billion. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. JPMorgan Chase & Co.’s revenue for the quarter was up 27.7% on a year-over-year basis. During the same period last year, the firm earned $4.96 EPS. As a group, equities analysts predict that JPMorgan Chase & Co. will post 24.3 EPS for the current year.

Insiders Place Their Bets

In related news, General Counsel Stacey Friedman sold 5,467 shares of JPMorgan Chase & Co. stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of the sale, the general counsel directly owned 40,961 shares of the company’s stock, valued at $13,547,031.53. The trade was a 11.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robin Leopold sold 2,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $352.81, for a total transaction of $882,025.00. Following the transaction, the insider directly owned 71,047 shares in the company, valued at $25,066,092.07. The trade was a 3.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 10,467 shares of company stock worth $3,593,651. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On JPMorgan Chase & Co.

Large investors have recently bought and sold shares of the company. Concorde Asset Management LLC grew its stake in JPMorgan Chase & Co. by 1.1% in the 2nd quarter. Concorde Asset Management LLC now owns 2,660 shares of the financial services provider’s stock valued at $871,000 after acquiring an additional 29 shares during the period. Elevation Wealth Management LLC lifted its holdings in JPMorgan Chase & Co. by 1.0% in the second quarter. Elevation Wealth Management LLC now owns 3,074 shares of the financial services provider’s stock valued at $1,006,000 after acquiring an additional 29 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. grew its holdings in shares of JPMorgan Chase & Co. by 0.8% during the 2nd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,531 shares of the financial services provider’s stock worth $1,156,000 after purchasing an additional 29 shares during the period. Arkansas Financial Group Inc. boosted its stake in JPMorgan Chase & Co. by 1.1% during the second quarter. Arkansas Financial Group Inc. now owns 2,667 shares of the financial services provider’s stock worth $873,000 after buying an additional 30 shares during the period. Finally, Flynn Zito Capital Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1.1% in the 2nd quarter. Flynn Zito Capital Management LLC now owns 2,830 shares of the financial services provider’s stock worth $926,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a global financial services company headquartered in New York City. Through its businesses, the company provides banking, lending, payments, investment banking, asset management and wealth management services to consumers, businesses, institutional clients and governments.

The company operates through four primary business areas: Consumer & Community Banking; Commercial & Investment Banking; Asset & Wealth Management; and Corporate. Its offerings include deposit accounts, credit cards, mortgages, auto loans, business banking, commercial lending, treasury services, investment banking, securities trading, investment management and private banking.

JPMorgan Chase serves customers in the United States and maintains operations and client relationships across numerous international markets.