Forbes J M & Co. LLP Reduces Stock Holdings in JPMorgan Chase & Co. $JPM

Forbes J M & Co. LLP reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,792 shares of the financial services provider’s stock after selling 202 shares during the quarter. JPMorgan Chase & Co. accounts for 2.6% of Forbes J M & Co. LLP’s holdings, making the stock its 9th biggest position. Forbes J M & Co. LLP’s holdings in JPMorgan Chase & Co. were worth $28,061,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $28,000. University of Illinois Foundation acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $30,000. Ryan Investment Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $37,000. Christopher J. Hasenberg Inc raised its holdings in shares of JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 106 shares during the period. Finally, Goodman Advisory Group LLC acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $76,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $307.61 on Wednesday. The company’s fifty day moving average is $301.10 and its 200-day moving average is $275.67. JPMorgan Chase & Co. has a 12 month low of $202.16 and a 12 month high of $318.01. The firm has a market cap of $845.85 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 2.03 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter in the prior year, the business posted $6.12 EPS. JPMorgan Chase & Co.’s quarterly revenue was down 10.5% on a year-over-year basis. Equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be paid a dividend of $1.50 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, October 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 30.79%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on JPM. Deutsche Bank Aktiengesellschaft boosted their price target on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company a “hold” rating in a report on Tuesday, September 30th. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Morgan Stanley boosted their price target on shares of JPMorgan Chase & Co. from $298.00 to $336.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Evercore ISI boosted their price target on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Finally, Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Friday, June 27th. Fifteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $309.95.

Insider Activity at JPMorgan Chase & Co.

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

About JPMorgan Chase & Co.

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.