Forum Financial Management LP Sells 1,052 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Forum Financial Management LP reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,159 shares of the financial services provider’s stock after selling 1,052 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.3% of Forum Financial Management LP’s holdings, making the stock its 25th largest position. Forum Financial Management LP’s holdings in JPMorgan Chase & Co. were worth $16,902,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in JPM. Henrickson Nauta Wealth Advisors Inc. lifted its position in JPMorgan Chase & Co. by 1.3% during the third quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 45 shares in the last quarter. Sunburst Financial Group LLC raised its stake in shares of JPMorgan Chase & Co. by 0.8% in the third quarter. Sunburst Financial Group LLC now owns 5,696 shares of the financial services provider’s stock worth $1,201,000 after buying an additional 45 shares during the period. West Wealth Group LLC lifted its position in shares of JPMorgan Chase & Co. by 3.6% during the 3rd quarter. West Wealth Group LLC now owns 1,327 shares of the financial services provider’s stock valued at $280,000 after buying an additional 46 shares in the last quarter. Instrumental Wealth LLC grew its stake in shares of JPMorgan Chase & Co. by 4.5% during the 2nd quarter. Instrumental Wealth LLC now owns 1,101 shares of the financial services provider’s stock valued at $230,000 after acquiring an additional 47 shares during the period. Finally, Prossimo Advisors LLC increased its holdings in JPMorgan Chase & Co. by 0.5% in the 3rd quarter. Prossimo Advisors LLC now owns 8,740 shares of the financial services provider’s stock worth $1,843,000 after acquiring an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on JPM shares. Citigroup lifted their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Barclays upped their target price on shares of JPMorgan Chase & Co. from $217.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Piper Sandler raised their price target on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $223.38.

JPMorgan Chase & Co. Stock Up 11.5 %

NYSE JPM opened at $247.06 on Thursday. The stock has a 50 day moving average price of $216.71 and a 200-day moving average price of $207.71. JPMorgan Chase & Co. has a one year low of $142.82 and a one year high of $248.00. The company has a market capitalization of $695.56 billion, a P/E ratio of 13.75, a P/E/G ratio of 3.25 and a beta of 1.10. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $4.37 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.35. The business had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the company posted $4.33 EPS. As a group, equities analysts predict that JPMorgan Chase & Co. will post 17.52 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Friday, October 4th were given a dividend of $1.25 per share. The ex-dividend date was Friday, October 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a yield of 2.02%. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.