Forbes J M & Co. LLP Has $23.79 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Forbes J M & Co. LLP increased its stake in JPMorgan Chase & Co. by 2.6%, bringing their holdings to approximately $23.79 million, making it the 8th largest investment in their portfolio.
• JPMorgan Chase reported $4.96 earnings per share, surpassing the consensus estimate, with revenues of $44.91 billion for the quarter, despite a 10.5% decline year-over-year.
• The firm announced a quarterly dividend of $1.40 per share, reflecting a 1.88% yield, with a payout ratio of 28.73%.

Forbes J M & Co. LLP boosted its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 96,994 shares of the financial services provider's stock after buying an additional 2,459 shares during the quarter. JPMorgan Chase & Co. makes up 2.3% of Forbes J M & Co. LLP's investment portfolio, making the stock its 8th largest holding. Forbes J M & Co. LLP's holdings in JPMorgan Chase & Co. were worth $23,793,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of JPM. Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $8,310,884,000. GAMMA Investing LLC increased its position in shares of JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after acquiring an additional 23,465,278 shares during the last quarter. Northern Trust Corp lifted its holdings in JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after acquiring an additional 4,515,147 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in JPMorgan Chase & Co. by 31.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock worth $2,561,256,000 after acquiring an additional 2,551,899 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in JPMorgan Chase & Co. by 16.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock worth $4,207,028,000 after purchasing an additional 2,465,572 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $298.22 on Tuesday. The firm has a 50 day moving average of $278.35 and a 200-day moving average of $260.40. The firm has a market capitalization of $828.78 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 2.01 and a beta of 1.10. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $299.59. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same period in the prior year, the company posted $6.12 EPS. The business's revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.88%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 28.73%.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 6,608 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the completion of the transaction, the general counsel owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the transaction, the chief financial officer owned 18,017 shares in the company, valued at approximately $4,518,123.09. This trade represents a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock valued at $18,060,015 in the last ninety days. Corporate insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on JPM shares. Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price for the company. in a research report on Friday, June 27th. TD Cowen assumed coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 price objective for the company. Phillip Securities lowered shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Finally, Truist Financial raised their price target on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.

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