Forum Financial Management LP Cuts Position in JPMorgan Chase & Co. $JPM

Key Points

• Forum Financial Management LP cut its JPMorgan Chase stake by 51.7% in the first quarter, selling 43,977 shares and ending with 41,016 shares worth about $12.1 million.
• JPMorgan reported better-than-expected quarterly results, posting EPS of $5.94 versus estimates of $5.50 and revenue of $50.54 billion, up 10% from a year earlier.
• The bank also announced a quarterly dividend of $1.50 per share, payable July 31, for an annualized dividend of $6.00 and a yield of about 1.8%.

Forum Financial Management LP decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 51.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,016 shares of the financial services provider's stock after selling 43,977 shares during the quarter. Forum Financial Management LP's holdings in JPMorgan Chase & Co. were worth $12,065,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of JPM. Fidelis Capital Partners LLC increased its stake in shares of JPMorgan Chase & Co. by 7.9% during the fourth quarter. Fidelis Capital Partners LLC now owns 70,077 shares of the financial services provider's stock worth $22,580,000 after purchasing an additional 5,101 shares in the last quarter. Howard Capital Management Inc. lifted its stake in JPMorgan Chase & Co. by 18.2% in the 4th quarter. Howard Capital Management Inc. now owns 25,784 shares of the financial services provider's stock valued at $8,308,000 after buying an additional 3,976 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its stake in JPMorgan Chase & Co. by 51.7% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 8,883 shares of the financial services provider's stock valued at $2,862,000 after buying an additional 3,027 shares in the last quarter. Brighton Jones LLC boosted its holdings in JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after buying an additional 4,841 shares during the last quarter. Finally, KTF Investments LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter worth about $6,449,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Down 0.2%

JPM opened at $333.91 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The company's 50 day simple moving average is $313.35 and its two-hundred day simple moving average is $309.10. JPMorgan Chase & Co. has a 1-year low of $279.10 and a 1-year high of $343.45. The firm has a market capitalization of $894.72 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.53 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The business had revenue of $50.54 billion during the quarter, compared to analyst estimates of $48.30 billion. During the same period in the prior year, the business earned $5.07 earnings per share. The business's revenue was up 10.0% compared to the same quarter last year. Analysts expect that JPMorgan Chase & Co. will post 22.76 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. JPMorgan Chase & Co.'s payout ratio is 28.74%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Zacks Research cut JPMorgan Chase & Co. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. HSBC lifted their price target on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a "hold" rating in a research note on Monday, May 4th. Royal Bank Of Canada reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. The Goldman Sachs Group set a $361.00 price objective on JPMorgan Chase & Co. in a report on Tuesday, April 14th. Finally, Autonomous Res lowered their target price on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a "neutral" rating on the stock in a research note on Monday, April 6th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $340.88.

Trending Headlines about JPMorgan Chase & Co.

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: Wall Street commentary remains supportive, with analysts reworking revenue assumptions and nudging fair-value estimates higher for JPMorgan ahead of earnings. JPMorgan Chase (JPM) Stock Gets Fair Value Bump As Analysts Rework Revenue Outlook
• Positive Sentiment: Investors are also looking ahead to JPMorgan’s July 14 earnings report, with revisions trends for bank stocks still positive and expectations for the June-quarter cycle trending up. Q2 Earnings Season Nears Kickoff: Bank Earnings in Focus
• Positive Sentiment: JPMorgan’s brand and consumer franchise also got a boost from coverage of the Chase credit-card lounge wars, highlighting its push to win affluent customers and deepen loyalty. American Express and Chase move luxury lounge wars beyond the airport
• Neutral Sentiment: The bank disclosed a larger stake in Umicore SA, showing ongoing investing activity but not a clear direct catalyst for JPM shares. How JPMorgan’s Higher Umicore SA (UMICY) Stake Keeps Focus on Its Circular Battery Materials Platform
• Neutral Sentiment: JPMorgan also remained in the headlines for its broader market views, including warnings on crypto-market risks and support for clearer US crypto rules; these are more thematic than stock-moving in the near term. JPMorgan Says Saylor’s Strategy Adds New Risk to Bitcoin Market
• Negative Sentiment: Governance-related headlines may be weighing on sentiment, including the end of Marianne Lake’s CEO succession bid and her reported $50 million in unvested stock after Dimon chose other successors. JPMorgan CEO contender walks away with $50M in unvested stock after losing Jamie Dimon succession race
• Negative Sentiment: There was also another adverse legal headline, as a judge rejected JPMorgan’s challenge to a disputed $74 million legal-fee bill tied to the Charlie Javice fraud case. JPMorgan Loses Javice Legal Fee Fight
• Negative Sentiment: Separately, JPMorgan must keep paying Charlie Javice’s legal fees, adding to the expense and reputational overhang from the long-running fraud case. JPMorgan has to keep paying Charlie Javice's legal fees, judge rules

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,919 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of the sale, the chief operating officer directly owned 85,082 shares of the company's stock, valued at $26,326,072.44. This trade represents a 5.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the transaction, the chief financial officer owned 32,438 shares in the company, valued at approximately $10,036,641.58. This represents a 8.52% 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. Insiders sold a total of 33,623 shares of company stock worth $10,427,835 in the last three months. 0.41% of the stock is owned by corporate insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co NYSE: JPM is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm's principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

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