Forsta AP Fonden Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Forsta AP Fonden lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 717,600 shares of the financial services provider’s stock after selling 22,000 shares during the period. JPMorgan Chase & Co. comprises approximately 1.3% of Forsta AP Fonden’s holdings, making the stock its 13th largest holding. Forsta AP Fonden’s holdings in JPMorgan Chase & Co. were worth $176,027,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. purchased a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $28,000. University of Illinois Foundation purchased a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $30,000. Curat Global LLC purchased a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $33,000. Measured Risk Portfolios Inc. purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $44,000. Finally, Minot DeBlois Advisors LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $54,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $292.63 on Wednesday. The firm has a market cap of $804.66 billion, a PE ratio of 15.01, a P/E/G ratio of 1.92 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a fifty day simple moving average of $284.76 and a two-hundred day simple moving average of $263.06. JPMorgan Chase & Co. has a 1-year low of $200.61 and a 1-year high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data 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. The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. JPMorgan Chase & Co.’s revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $6.12 EPS. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is 28.73%.

Insider Activity

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, the chief operating officer owned 62,455 shares of the company’s stock, valued at $16,392,563.85. This represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the transaction, the general counsel directly owned 36,520 shares of the company’s stock, valued at $9,703,729.20. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,557 shares of company stock valued at $4,113,796 in the last three months. Insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on JPM shares. HSBC restated a “reduce” rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the company an “outperform” rating in a research report on Monday, July 7th. Piper Sandler reaffirmed an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Finally, Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $288.68.

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.