Forum Financial Management LP Trims Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Forum Financial Management LP trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,350 shares of the financial services provider's stock after selling 2,629 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.3% of Forum Financial Management LP's holdings, making the stock its 25th biggest holding. Forum Financial Management LP's holdings in JPMorgan Chase & Co. were worth $19,710,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Geode Capital Management LLC raised its position in JPMorgan Chase & Co. by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock worth $14,161,171,000 after purchasing an additional 876,417 shares during the period. Norges Bank purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth about $8,310,884,000. Northern Trust Corp raised its position in JPMorgan Chase & Co. by 15.4% in the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after purchasing an additional 4,515,147 shares during the period. Bank of New York Mellon Corp raised its position in JPMorgan Chase & Co. by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after purchasing an additional 454,226 shares during the period. Finally, GAMMA Investing LLC raised its position in JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after purchasing an additional 23,465,278 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 0.6%

NYSE:JPM traded up $1.91 during midday trading on Friday, reaching $298.46. 5,918,228 shares of the stock traded hands, compared to its average volume of 9,347,400. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $299.59. The business has a 50-day moving average of $277.68 and a two-hundred day moving average of $259.88. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. The stock has a market capitalization of $829.45 billion, a PE ratio of 15.31, a price-to-earnings-growth ratio of 2.02 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter in the prior year, the company posted $6.12 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

Insider Activity at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 5th. The shares were 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 directly owned 62,455 shares in the company, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction 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 sale, the chief financial officer owned 18,017 shares of the company's stock, valued at $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. KGI Securities started coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a "hold" rating on the stock. Morgan Stanley upped their target price on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Bank of America upped their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. 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.