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

Forum Financial Management LP trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 80,159 shares of the financial services provider’s stock after selling 1,052 shares during the quarter. JPMorgan Chase & Co. makes up about 0.3% of Forum Financial Management LP’s portfolio, making the stock its 25th biggest position. Forum Financial Management LP’s holdings in JPMorgan Chase & Co. were worth $16,902,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JPM. Retirement Group LLC boosted its stake in shares of JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 109 shares during the period. Fairway Wealth LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at about $32,000. Anfield Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at about $34,000. Davidson Capital Management Inc. bought a new position in JPMorgan Chase & Co. in the 1st quarter worth about $37,000. Finally, West Financial Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the third quarter worth approximately $37,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $247.06 on Thursday. JPMorgan Chase & Co. has a fifty-two week low of $142.82 and a fifty-two week high of $248.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $695.56 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 3.25 and a beta of 1.10. The stock’s 50-day simple moving average is $216.71 and its 200-day simple moving average is $207.71.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.35. The company had revenue of $43.32 billion for the quarter, compared to the consensus estimate of $41.43 billion. JPMorgan Chase & Co. had a net margin of 19.64% and a return on equity of 16.71%. JPMorgan Chase & Co.’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.33 EPS. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 17.52 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

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

Analysts Set New Price Targets

Several brokerages recently issued reports on JPM. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $235.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, September 3rd. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Royal Bank of Canada increased their target price on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Citigroup boosted 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. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.38.

About JPMorgan Chase & Co.

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.