J P Morgan Chase & Co (NYSE:JPM) declared a quarterly dividend on Tuesday, September 19th, RTT News reports. Stockholders of record on Friday, October 6th will be given a dividend of 0.56 per share by the financial services provider on Tuesday, October 31st. This represents a $2.24 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Thursday, October 5th. This is a boost from J P Morgan Chase & Co’s previous quarterly dividend of $0.50.

J P Morgan Chase & Co has increased its dividend payment by an average of 10.6% per year over the last three years and has increased its dividend every year for the last 6 years. J P Morgan Chase & Co has a payout ratio of 32.9% meaning its dividend is sufficiently covered by earnings. Analysts expect J P Morgan Chase & Co to earn $7.69 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 29.1%.

J P Morgan Chase & Co (NYSE:JPM) opened at 97.35 on Wednesday. The firm has a market cap of $342.53 billion, a price-to-earnings ratio of 14.36 and a beta of 1.18. J P Morgan Chase & Co has a 52 week low of $66.74 and a 52 week high of $97.43. The firm’s 50-day moving average is $92.30 and its 200-day moving average is $89.28.

J P Morgan Chase & Co (NYSE:JPM) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.23. The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. J P Morgan Chase & Co had a return on equity of 11.53% and a net margin of 24.13%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.55 earnings per share. On average, equities analysts anticipate that J P Morgan Chase & Co will post $6.80 earnings per share for the current year.

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A number of research analysts recently commented on JPM shares. Robert W. Baird reaffirmed a “hold” rating and issued a $88.00 target price on shares of J P Morgan Chase & Co in a research report on Thursday, September 21st. Deutsche Bank AG cut J P Morgan Chase & Co from a “buy” rating to a “hold” rating and lifted their target price for the stock from $90.00 to $96.00 in a research report on Tuesday, September 26th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $93.00 target price on shares of J P Morgan Chase & Co in a research report on Thursday, July 6th. Wells Fargo & Company started coverage on J P Morgan Chase & Co in a research note on Wednesday, August 9th. They set an “outperform” rating and a $110.00 price target on the stock. Finally, Buckingham Research restated a “neutral” rating and set a $100.00 price target (up previously from $94.00) on shares of J P Morgan Chase & Co in a research note on Monday, July 10th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seventeen have assigned a buy rating to the stock. J P Morgan Chase & Co has an average rating of “Hold” and an average price target of $87.10.

In other J P Morgan Chase & Co news, General Counsel Stacey Friedman sold 9,968 shares of the stock in a transaction on Monday, August 21st. The shares were sold at an average price of $90.55, for a total transaction of $902,602.40. Following the sale, the general counsel now directly owns 10,527 shares of the company’s stock, valued at $953,219.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marianne Lake sold 17,596 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $91.58, for a total transaction of $1,611,441.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,564 shares of company stock valued at $2,605,334. 0.88% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. American Century Companies Inc. grew its holdings in shares of J P Morgan Chase & Co by 9.3% during the second quarter. American Century Companies Inc. now owns 10,176,143 shares of the financial services provider’s stock valued at $930,099,000 after purchasing an additional 864,992 shares during the last quarter. Intersect Capital LLC lifted its holdings in shares of J P Morgan Chase & Co by 98.0% in the 2nd quarter. Intersect Capital LLC now owns 26,131 shares of the financial services provider’s stock worth $2,388,000 after purchasing an additional 12,935 shares during the last quarter. Alethea Capital Management LLC lifted its holdings in shares of J P Morgan Chase & Co by 894.6% in the 2nd quarter. Alethea Capital Management LLC now owns 52,716 shares of the financial services provider’s stock worth $4,818,000 after purchasing an additional 47,416 shares during the last quarter. MARSHALL WACE ASIA Ltd lifted its holdings in shares of J P Morgan Chase & Co by 51.1% in the 2nd quarter. MARSHALL WACE ASIA Ltd now owns 100,958 shares of the financial services provider’s stock worth $9,188,000 after purchasing an additional 34,159 shares during the last quarter. Finally, Edgemoor Investment Advisors Inc. lifted its holdings in shares of J P Morgan Chase & Co by 44.8% in the 2nd quarter. Edgemoor Investment Advisors Inc. now owns 4,749 shares of the financial services provider’s stock worth $434,000 after purchasing an additional 1,470 shares during the last quarter. 77.90% of the stock is owned by institutional investors and hedge funds.

J P Morgan Chase & Co Company Profile

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

Dividend History for J P Morgan Chase & Co (NYSE:JPM)

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