Alterna Wealth Management Inc. Has $308,000 Position in JPMorgan Chase & Co. (NYSE:JPM)

Alterna Wealth Management Inc. cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 15.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Stonehage Fleming Financial Services Holdings Ltd lifted its position in shares of JPMorgan Chase & Co. by 73.4% in the second quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 9,155 shares of the financial services provider’s stock worth $1,126,000 after buying an additional 3,876 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of JPMorgan Chase & Co. by 15.4% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 67,591 shares of the financial services provider’s stock valued at $9,830,000 after acquiring an additional 9,000 shares in the last quarter. Charter Research & Investment Group Inc. lifted its holdings in JPMorgan Chase & Co. by 3.5% in the 2nd quarter. Charter Research & Investment Group Inc. now owns 2,967 shares of the financial services provider’s stock worth $432,000 after purchasing an additional 100 shares during the last quarter. Corrado Advisors LLC boosted its position in JPMorgan Chase & Co. by 1.1% during the second quarter. Corrado Advisors LLC now owns 19,487 shares of the financial services provider’s stock worth $2,834,000 after purchasing an additional 217 shares during the period. Finally, Ascension Asset Management LLC acquired a new position in JPMorgan Chase & Co. during the second quarter valued at approximately $1,280,000. 68.94% of the stock is owned by institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,310 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total transaction of $624,346.60. Following the sale, the general counsel now directly owns 53,425 shares of the company’s stock, valued at $7,739,145.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.79% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on JPM. Evercore ISI boosted their price objective on shares of JPMorgan Chase & Co. from $158.00 to $167.00 in a research note on Thursday, October 5th. Royal Bank of Canada reissued an “outperform” rating and set a $158.00 target price on shares of JPMorgan Chase & Co. in a research report on Friday, September 8th. Morgan Stanley raised their price target on JPMorgan Chase & Co. from $187.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, October 16th. Odeon Capital Group lowered JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $140.00 price objective on the stock. in a research note on Thursday, November 2nd. Finally, HSBC initiated coverage on JPMorgan Chase & Co. in a report on Thursday, September 7th. They issued a “hold” rating and a $159.00 target price on the stock. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $168.80.

JPMorgan Chase & Co. Stock Up 0.3 %

Shares of JPM opened at $153.29 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.25. The company has a 50-day moving average price of $145.23 and a two-hundred day moving average price of $145.34. The stock has a market cap of $443.16 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 1.80 and a beta of 1.12. JPMorgan Chase & Co. has a 12 month low of $123.11 and a 12 month high of $159.38.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $4.33 EPS for the quarter, beating the consensus estimate of $3.95 by $0.38. JPMorgan Chase & Co. had a return on equity of 17.97% and a net margin of 22.79%. The business had revenue of $40.69 billion for the quarter, compared to analyst estimates of $39.63 billion. During the same quarter in the previous year, the firm earned $3.12 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 24.4% on a year-over-year basis. Equities analysts predict that JPMorgan Chase & Co. will post 16.67 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 6th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.74%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.07%.

JPMorgan Chase & Co. Profile

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.