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

Posted by Defense World Staff on Apr 8th, 2023

Forum Financial Management LP raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,292 shares of the financial services provider’s stock after purchasing an additional 1,733 shares during the period. JPMorgan Chase & Co. accounts for 0.4% of Forum Financial Management LP’s portfolio, making the stock its 21st largest position. Forum Financial Management LP’s holdings in JPMorgan Chase & Co. were worth $11,706,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Retirement Financial Solutions LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $26,000. Creative Capital Management Investments LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $30,000. HBC Financial Services PLLC lifted its stake in shares of JPMorgan Chase & Co. by 61.2% in the second quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock worth $27,000 after buying an additional 90 shares in the last quarter. Horizons Wealth Management bought a new position in shares of JPMorgan Chase & Co. in the second quarter worth approximately $39,000. Finally, New Millennium Group LLC bought a new position in shares of JPMorgan Chase & Co. in the second quarter worth approximately $39,000. Institutional investors own 67.89% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In related news, Vice Chairman Peter Scher sold 4,399 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $140.32, for a total transaction of $617,267.68. Following the transaction, the insider now owns 36,369 shares in the company, valued at approximately $5,103,298.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, General Counsel Stacey Friedman sold 23,148 shares of the firm’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $140.31, for a total transaction of $3,247,895.88. Following the completion of the transaction, the general counsel now directly owns 48,311 shares of the company’s stock, valued at $6,778,516.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Peter Scher sold 4,399 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $140.32, for a total transaction of $617,267.68. Following the completion of the sale, the insider now owns 36,369 shares in the company, valued at $5,103,298.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,887 shares of company stock worth $5,315,762. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Trading Down 0.1 %

NYSE:JPM opened at $127.47 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $375.19 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10. JPMorgan Chase & Co. has a one year low of $101.28 and a one year high of $144.34. The business has a fifty day moving average price of $135.86 and a 200-day moving average price of $130.46.

JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings data on Friday, January 13th. The financial services provider reported $3.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.46. The company had revenue of $34.55 billion during the quarter, compared to the consensus estimate of $34.23 billion. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.33 EPS. Sell-side analysts forecast that JPMorgan Chase & Co. will post 12.84 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Thursday, April 6th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 33.11%.

Wall Street Analysts Forecast Growth

JPM has been the subject of several recent analyst reports. Evercore ISI decreased their price target on JPMorgan Chase & Co. from $157.00 to $146.00 and set an “outperform” rating for the company in a research note on Wednesday. Morgan Stanley decreased their price target on JPMorgan Chase & Co. from $173.00 to $153.00 and set an “overweight” rating for the company in a research note on Wednesday. Wells Fargo & Company upgraded shares of JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $148.00 to $155.00 in a research note on Monday, March 13th. UBS Group set a $156.00 price target on shares of JPMorgan Chase & Co. in a research note on Friday, January 13th. Finally, Royal Bank of Canada reduced their price target on shares of JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a research note on Friday, March 24th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $149.33.

JPMorgan Chase & Co. Company Profile

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JPMorgan Chase & Co is a financial holding company, which engages in providing financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.