Alterna Wealth Management Inc. decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 15.9% in the 2nd quarter, Holdings Channel reports. The fund owned 2,116 shares of the financial services provider’s stock after selling 400 shares during the quarter. Alterna Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $308,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. JSF Financial LLC increased its stake in shares of JPMorgan Chase & Co. by 0.6% in the second quarter. JSF Financial LLC now owns 10,680 shares of the financial services provider’s stock valued at $1,553,000 after buying an additional 65 shares during the period. Red Wave Investments LLC grew its holdings in JPMorgan Chase & Co. by 1.4% during the 2nd quarter. Red Wave Investments LLC now owns 4,719 shares of the financial services provider’s stock worth $686,000 after acquiring an additional 65 shares during the last quarter. Riverview Capital Advisers LLC increased its position in JPMorgan Chase & Co. by 4.2% in the 2nd quarter. Riverview Capital Advisers LLC now owns 1,654 shares of the financial services provider’s stock valued at $241,000 after acquiring an additional 66 shares during the period. Keystone Wealth Services LLC raised its stake in shares of JPMorgan Chase & Co. by 1.6% during the second quarter. Keystone Wealth Services LLC now owns 4,129 shares of the financial services provider’s stock valued at $601,000 after acquiring an additional 67 shares during the last quarter. Finally, Carmel Capital Partners LLC lifted its holdings in shares of JPMorgan Chase & Co. by 2.8% during the second quarter. Carmel Capital Partners LLC now owns 2,434 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 67 shares during the period. 68.94% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
JPM has been the subject of several analyst reports. BMO Capital Markets raised their target price on JPMorgan Chase & Co. from $167.00 to $171.00 and gave the stock a “market perform” rating in a research report on Monday, October 16th. Evercore ISI upped their target price on JPMorgan Chase & Co. from $158.00 to $167.00 in a report on Thursday, October 5th. HSBC initiated coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, September 7th. They set a “hold” rating and a $159.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $158.00 price objective on shares of JPMorgan Chase & Co. in a research report on Friday, September 8th. Finally, Piper Sandler boosted their target price on shares of JPMorgan Chase & Co. from $168.00 to $170.00 and gave the company an “overweight” rating in a report on Monday, October 16th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.80.
JPMorgan Chase & Co. Trading Up 0.3 %
JPM opened at $153.29 on Tuesday. JPMorgan Chase & Co. has a fifty-two week low of $123.11 and a fifty-two week high of $159.38. The firm has a market capitalization of $443.16 billion, a PE ratio of 9.15, a P/E/G ratio of 1.80 and a beta of 1.12. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.90 and a quick ratio of 0.90. The company’s 50-day moving average is $145.23 and its 200 day moving average is $145.34.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings data on Friday, October 13th. The financial services provider reported $4.33 EPS for the quarter, topping the consensus estimate of $3.95 by $0.38. The firm had revenue of $40.69 billion during the quarter, compared to the consensus estimate of $39.63 billion. JPMorgan Chase & Co. had a return on equity of 17.97% and a net margin of 22.79%. The company’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.12 earnings per share. As a group, research analysts predict that JPMorgan Chase & Co. will post 16.67 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 2.74%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, October 5th. JPMorgan Chase & Co.’s payout ratio is currently 25.07%.
Insider Transactions at JPMorgan Chase & Co.
In other news, General Counsel Stacey Friedman sold 4,310 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total value of $624,346.60. Following the completion of the sale, the general counsel now owns 53,425 shares in the company, valued at $7,739,145.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.79% of the company’s stock.
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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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