Forbes J M & Co. LLP Cuts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Forbes J M & Co. LLP cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 16.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 94,535 shares of the financial services provider’s stock after selling 19,209 shares during the period. JPMorgan Chase & Co. comprises about 2.2% of Forbes J M & Co. LLP’s investment portfolio, making the stock its 9th largest position. Forbes J M & Co. LLP’s holdings in JPMorgan Chase & Co. were worth $22,661,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in JPM. AMF Tjanstepension AB grew its holdings in shares of JPMorgan Chase & Co. by 17.2% in the third quarter. AMF Tjanstepension AB now owns 473,785 shares of the financial services provider’s stock worth $99,972,000 after purchasing an additional 69,451 shares during the last quarter. Alpha Financial Partners LLC lifted its stake in JPMorgan Chase & Co. by 11.5% in the third quarter. Alpha Financial Partners LLC now owns 3,329 shares of the financial services provider’s stock worth $702,000 after acquiring an additional 343 shares during the period. BCS Wealth Management lifted its stake in JPMorgan Chase & Co. by 57.3% in the third quarter. BCS Wealth Management now owns 3,106 shares of the financial services provider’s stock worth $655,000 after acquiring an additional 1,131 shares during the period. Sax Wealth Advisors LLC lifted its stake in JPMorgan Chase & Co. by 21.4% in the third quarter. Sax Wealth Advisors LLC now owns 13,461 shares of the financial services provider’s stock worth $2,838,000 after acquiring an additional 2,369 shares during the period. Finally, Marest Capital LLC lifted its stake in JPMorgan Chase & Co. by 0.3% in the third quarter. Marest Capital LLC now owns 16,767 shares of the financial services provider’s stock worth $3,535,000 after acquiring an additional 48 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now owns 47,620 shares in the company, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

JPM opened at $276.61 on Monday. JPMorgan Chase & Co. has a 52-week low of $176.15 and a 52-week high of $279.23. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The company has a market cap of $778.74 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 2.94 and a beta of 1.12. The firm’s 50-day moving average price is $253.02 and its 200-day moving average price is $232.75.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. During the same quarter in the prior year, the company posted $3.04 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.05 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were issued a $1.25 dividend. The ex-dividend date was Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 1.81%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.33%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price objective for the company. in a research note on Thursday, November 7th. Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $251.78.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of 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.