JPMorgan Chase & Co. (NYSE:JPM) is a financial service provider that has been in the news lately due to its stock rating and dividends. According to Bloomberg, the consensus rating for the company is “Moderate Buy” as per the twenty analysts who are presently covering the company. Out of these analysts, four have rated the stock with a hold rating while six gave it a buy rating. The average 1-year price target among these analysts stands at $157.65.
Recently, JPMorgan Chase made an announcement regarding its quarterly dividend which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be issued a $1.00 dividend representing a $4.00 annualized basis dividend yield of 2.95%. However, the ex-dividend date is on Wednesday, July 5th.
The financial service provider’s payout ratio is currently 29.52%. This means that they’re paying out almost one-third of their earnings as dividends to shareholders.
Apart from this crunching data analysis report by Bloomberg, many large investors bought and sold shares of JPMorgan Chase & Co., making it evidence of how blooming this company remains even after years since its foundation.
Over the first quarter period, Empower Advisory Group LLC purchased approximately $141 million worth shares in JPMorgan Chase & Co., while Putnam Investments LLC boosted its holdings in JPMorgan Chase & Co by buying additional 441k+ shares during a similar period; also aided in support was Birmingham Capital Management Co.’s purchase that increased their holdings by 0.7%, adding an extra million investment into their bracket.
Speaking about recent investors’ activities about JP Morgan Chase & CO’s stock portfolio depicts that businesses consider the global leader an excellent opportunity to invest money looking towards long-term stability that ensures diversification along with returns on equity investments.
Therefore, regardless of the pandemic’s ongoing chaos impacting almost all sectors making a massive financial footing for banks, JPMorgan Chase & Co. continues to maintain its portfolio intact with strong growth laterally. On the other hand, large investors are paying attention to the institution, especially considering the consistent dividend payouts and growth factor in profitability that the company has been showcasing over time.
JPMorgan Chase & Co. Continues to Make Waves with Quarterly Dividend, Increased Price Target, and New Coverage Report
JPMorgan Chase & Co. continues to make waves in the financial world as the company announces a quarterly dividend, sets its sights on an increased price target, and welcomes a new coverage report from StockNews.com. These developments come on the heels of insider trading and executive stock sales.
As of Friday, May 26th, JPMorgan Chase & Co.’s shares opened at $135.67 with a market cap of $396.47 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 1.89 and a beta of 1.10. The company has had an impressive year with stocks hitting an all-time high of $144.34 while maintaining a 52-week low of $101.28.
Recently there has been much speculation surrounding insider trading and stock sales within JPMorgan Chase & Co., stemming from reports of CEO Douglas B. Petno’s sale of 4,932 shares in his own name via the SEC filing on Monday, May 15thand Ashley Bacon’s separate saleof16,766shared fora total transaction value of$2,263,410.
Despite these recent controversial occurrences coming to light regarding JPM’s insiders selling their stocks at key moments throughout Q2 transactions have remained stable with insiders selling 136578 shares netting approximately $18 million over the last three months.
Regarding Wall Street views about the financial institution, various brokerages raised their price target for JP Morgan including Oppenheimer who moved it up from $157 to $192 rating JP Morgan at “outperformer”, along with Goldman Sachs who raised their previously reported sharepricefrom $160to$172onthe basisof growthanddevelopmentresultsforthequarter.
An interesting addition to this is StockNews.com’s announcement that they have initiated coverage on JPMorgan Chase & Co., giving them a “hold” rating providing varying viewpoints for investors who are interested in the shares of the company.
Investors can also look forward to the quarterly dividend, which JPMorgan Chase & Co. just declared. This $1.00 dividend on an annualized basis represents a dividend yield of 2.95% and will be paid out to shareholders on July 31st. Those who have stocks as of July 6th will receive the payout while those who purchase stocks after this date will miss out.
Finally, back in April JPMorgan Chase & Co. reported first quarter earnings data showing a surge in revenue with $38.35 billion compared to the consensus estimate of $35.77 billion with EPS at $4.10 topping their estimated EPS of $3.41 by $0.69 causing equities analysts to anticipate that JPMorgan’s earnings per share for the current fiscal year could land around14.43 demonstratingJPM’s growth potential.
Overall, between insider selling scandals and strong earnings reports, JPMorgan Chase & Co.’s most recent stock history shows that it remains a powerful force within the financial industry with investors and brokers alike keeping their eyes peeled for what happens next as they keep pushing the markets up despite wider global economic uncertainties gripping other industries.
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