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

Forum Financial Management LP lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,012 shares of the financial services provider’s stock after buying an additional 1,662 shares during the period. JPMorgan Chase & Co. makes up approximately 0.4% of Forum Financial Management LP’s portfolio, making the stock its 24th biggest holding. Forum Financial Management LP’s holdings in JPMorgan Chase & Co. were worth $23,776,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JPM. Brighton Jones LLC boosted its stake in shares of 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. Ironwood Wealth Management LLC. raised its holdings in shares of JPMorgan Chase & Co. by 0.7% in the 1st quarter. Ironwood Wealth Management LLC. now owns 15,400 shares of the financial services provider’s stock worth $3,778,000 after purchasing an additional 107 shares during the period. Acorns Advisers LLC raised its holdings in shares of JPMorgan Chase & Co. by 6.9% in the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 100 shares during the period. Joel Isaacson & Co. LLC raised its holdings in shares of JPMorgan Chase & Co. by 4.2% in the 1st quarter. Joel Isaacson & Co. LLC now owns 51,603 shares of the financial services provider’s stock worth $12,658,000 after purchasing an additional 2,099 shares during the period. Finally, Cohen Investment Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 1,993.3% in the 1st quarter. Cohen Investment Advisors LLC now owns 464,662 shares of the financial services provider’s stock worth $113,982,000 after purchasing an additional 442,464 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on JPM. KGI Securities lifted their price target on shares of JPMorgan Chase & Co. from $300.00 to $315.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Truist Financial lifted their price target on shares of JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a report on Tuesday, September 23rd. Wolfe Research lifted their price target on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Finally, Morgan Stanley lifted their price target on shares of JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $322.27.

Insider Transactions at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Trading Up 0.7%

Shares of JPM stock opened at $311.47 on Friday. The company’s fifty day simple moving average is $304.92 and its two-hundred day simple moving average is $284.48. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.86 and a quick ratio of 0.88. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The stock has a market capitalization of $856.48 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.84 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business had revenue of $46.43 billion for the quarter, compared to analysts’ expectations of $44.42 billion. During the same quarter in the previous year, the firm posted $4.37 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s payout ratio is presently 29.72%.

JPMorgan Chase & Co. Company 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.