AlphaStar Capital Management LLC Acquires 1,694 Shares of JPMorgan Chase & Co. (NYSE:JPM)

AlphaStar Capital Management LLC raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,853 shares of the financial services provider’s stock after purchasing an additional 1,694 shares during the period. JPMorgan Chase & Co. accounts for 0.7% of AlphaStar Capital Management LLC’s portfolio, making the stock its 26th largest position. AlphaStar Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $5,606,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in JPM. Redwood Park Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $29,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $33,000. Sellwood Investment Partners LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $34,000. Investment Counsel Co. of Nevada bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $37,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $43,000. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on JPM. Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Royal Bank Of Canada set a $305.00 target price on shares of JPMorgan Chase & Co. and gave the stock an “outperform” rating in a research report on Monday, June 30th. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a “hold” rating for the company. Finally, Morgan Stanley set a $240.00 target price on shares of JPMorgan Chase & Co. and gave the stock an “equal weight” rating in a research report on Monday, July 7th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $284.42.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the transaction, the director owned 91,539 shares in the company, valued at approximately $22,884,750. The trade was a 9.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the transaction, the chief operating officer owned 68,583 shares in the company, valued at approximately $17,197,873.08. This trade represents a 8.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock worth $18,060,015 in the last quarter. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.6%

JPM opened at $288.60 on Tuesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $296.40. The firm’s fifty day moving average is $271.71 and its 200 day moving average is $256.81. The stock has a market cap of $802.06 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 2.62 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The company had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. During the same quarter in the previous year, the company earned $4.44 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.49%.

JPMorgan Chase & Co. Company Profile

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.