Forza Wealth Management LLC Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Forza Wealth Management LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 15.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,454 shares of the financial services provider’s stock after selling 3,145 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.6% of Forza Wealth Management LLC’s holdings, making the stock its 13th largest holding. Forza Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,969,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Curbstone Financial Management Corp raised its holdings in JPMorgan Chase & Co. by 0.3% in the fourth quarter. Curbstone Financial Management Corp now owns 23,930 shares of the financial services provider’s stock valued at $4,070,000 after acquiring an additional 60 shares in the last quarter. Grey Street Capital LLC raised its holdings in JPMorgan Chase & Co. by 0.9% in the fourth quarter. Grey Street Capital LLC now owns 6,994 shares of the financial services provider’s stock valued at $1,190,000 after acquiring an additional 60 shares in the last quarter. Financial Management Network Inc. raised its holdings in JPMorgan Chase & Co. by 0.8% in the fourth quarter. Financial Management Network Inc. now owns 7,523 shares of the financial services provider’s stock valued at $1,296,000 after acquiring an additional 61 shares in the last quarter. Sendero Wealth Management LLC raised its holdings in JPMorgan Chase & Co. by 1.1% in the fourth quarter. Sendero Wealth Management LLC now owns 5,811 shares of the financial services provider’s stock valued at $988,000 after acquiring an additional 62 shares in the last quarter. Finally, Raleigh Capital Management Inc. raised its holdings in JPMorgan Chase & Co. by 0.8% in the third quarter. Raleigh Capital Management Inc. now owns 8,151 shares of the financial services provider’s stock valued at $1,182,000 after acquiring an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the topic of several recent analyst reports. Jefferies Financial Group upped their price target on shares of JPMorgan Chase & Co. from $202.00 to $228.00 and gave the company a “buy” rating in a report on Monday. Oppenheimer lowered their target price on shares of JPMorgan Chase & Co. from $238.00 to $219.00 and set an “outperform” rating for the company in a research note on Tuesday, March 19th. BMO Capital Markets boosted their target price on shares of JPMorgan Chase & Co. from $192.00 to $194.00 and gave the company a “market perform” rating in a research note on Tuesday, January 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $185.00 target price on shares of JPMorgan Chase & Co. in a research note on Wednesday, March 20th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of JPMorgan Chase & Co. from $182.00 to $195.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $189.11.

Insider Activity

In other news, Vice Chairman Peter Scher sold 1,812 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $166.65, for a total value of $301,969.80. Following the completion of the transaction, the insider now directly owns 46,766 shares in the company, valued at $7,793,553.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Vice Chairman Peter Scher sold 1,812 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $166.65, for a total transaction of $301,969.80. Following the completion of the sale, the insider now directly owns 46,766 shares in the company, valued at $7,793,553.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ashley Bacon sold 3,368 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $166.73, for a total transaction of $561,546.64. Following the sale, the insider now owns 205,461 shares of the company’s stock, valued at $34,256,512.53. The disclosure for this sale can be found here. Insiders sold 849,303 shares of company stock worth $155,107,447 over the last three months. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $195.47 on Thursday. JPMorgan Chase & Co. has a 52 week low of $126.83 and a 52 week high of $200.94. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.30. The stock has a market cap of $563.03 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 2.51 and a beta of 1.15. The company has a 50-day moving average price of $187.52 and a two-hundred day moving average price of $167.16.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $3.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.73 by ($0.69). The company had revenue of $38.57 billion during the quarter, compared to the consensus estimate of $39.73 billion. JPMorgan Chase & Co. had a net margin of 20.70% and a return on equity of 17.80%. The company’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business earned $3.57 earnings per share. Analysts forecast that JPMorgan Chase & Co. will post 15.8 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be issued a $1.15 dividend. The ex-dividend date is Thursday, April 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 2.35%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.36%.

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.