JPMorgan Chase & Co. (NYSE:JPM) Position Trimmed by Forsta AP Fonden

Key Points

• Forsta AP Fonden reduced its stake in JPMorgan Chase & Co. by 3.0%, now holding approximately 717,600 shares worth $176 million, making it the fund's 13th largest investment.
• Several other institutions increased their positions in JPMorgan, with National Bank of Canada FI seeing a notable increase of 44.4%, acquiring over 4.5 million shares valued at over $1.1 billion.
• JPMorgan's stock was down 0.8% trading at $290.49, while the firm reported better-than-expected earnings of $4.96 per share, though revenue declined 10.5% year-over-year.

Forsta AP Fonden reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 717,600 shares of the financial services provider's stock after selling 22,000 shares during the period. JPMorgan Chase & Co. accounts for about 1.3% of Forsta AP Fonden's investment portfolio, making the stock its 13th largest position. Forsta AP Fonden's holdings in JPMorgan Chase & Co. were worth $176,027,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Integrity Financial Corp WA increased its position in JPMorgan Chase & Co. by 18.4% during the first quarter. Integrity Financial Corp WA now owns 3,314 shares of the financial services provider's stock worth $813,000 after purchasing an additional 516 shares during the last quarter. NS Partners Ltd increased its position in JPMorgan Chase & Co. by 1.4% during the first quarter. NS Partners Ltd now owns 176,708 shares of the financial services provider's stock worth $43,346,000 after purchasing an additional 2,438 shares during the last quarter. Savvy Advisors Inc. increased its position in JPMorgan Chase & Co. by 11.2% during the first quarter. Savvy Advisors Inc. now owns 21,759 shares of the financial services provider's stock worth $5,337,000 after purchasing an additional 2,193 shares during the last quarter. National Bank of Canada FI increased its position in JPMorgan Chase & Co. by 44.4% during the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider's stock worth $1,108,415,000 after purchasing an additional 1,388,992 shares during the last quarter. Finally, LaSalle St. Investment Advisors LLC increased its position in JPMorgan Chase & Co. by 13.1% during the first quarter. LaSalle St. Investment Advisors LLC now owns 6,753 shares of the financial services provider's stock worth $1,656,000 after purchasing an additional 783 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Down 0.8%

Shares of JPM traded down $2.36 during mid-day trading on Wednesday, reaching $290.49. 8,416,683 shares of the stock traded hands, compared to its average volume of 8,127,799. The firm has a market cap of $798.77 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 1.95 and a beta of 1.11. The stock has a fifty day simple moving average of $285.29 and a 200 day simple moving average of $263.25. JPMorgan Chase & Co. has a 12-month low of $200.61 and a 12-month high of $301.29. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business's revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.12 earnings per share. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 28.73%.

Analyst Ratings Changes

JPM has been the subject of several research analyst reports. 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. Baird R W cut shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target on the stock. in a research report on Friday, June 27th. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Finally, Morgan Stanley lifted their price target on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

Insiders Place Their Bets

In related news, General Counsel Stacey Friedman sold 2,821 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $749,567.91. Following the completion of the sale, the general counsel owned 68,757 shares in the company, valued at approximately $18,269,422.47. The trade was a 3.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the sale, the chief operating officer owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,557 shares of company stock valued at $4,113,796. Insiders own 0.47% of the company's stock.

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.