Starfire Investment Advisers Inc. Has $1.20 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

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Starfire Investment Advisers Inc. increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 14.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 10,174 shares of the financial services provider’s stock after acquiring an additional 1,302 shares during the period. Starfire Investment Advisers Inc.’s holdings in JPMorgan Chase & Co. were worth $1,197,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Personal Wealth Partners bought a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $28,000. MRA Associates USA LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $30,000. Global Trust Asset Management LLC increased its stake in shares of JPMorgan Chase & Co. by 2,027.2% in the 2nd quarter. Global Trust Asset Management LLC now owns 5,318 shares of the financial services provider’s stock valued at $33,000 after buying an additional 5,068 shares during the period. Titan Capital Management LLC CA acquired a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $35,000. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 2nd quarter valued at $56,000. 71.94% of the stock is currently owned by institutional investors and hedge funds.

JPM stock traded up $2.85 during midday trading on Tuesday, hitting $119.30. 648,462 shares of the company’s stock were exchanged, compared to its average volume of 11,265,596. The stock’s fifty day moving average price is $114.68 and its 200-day moving average price is $111.71. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $371.36 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.67 and a beta of 1.20. JPMorgan Chase & Co. has a one year low of $91.11 and a one year high of $120.40.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $2.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.42 by $0.26. The firm had revenue of $29.34 billion for the quarter, compared to analyst estimates of $28.36 billion. JPMorgan Chase & Co. had a return on equity of 14.40% and a net margin of 24.73%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.34 earnings per share. On average, analysts expect that JPMorgan Chase & Co. will post 9.91 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.02%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, October 3rd. JPMorgan Chase & Co.’s payout ratio is 40.00%.

Several equities research analysts have recently commented on JPM shares. Wells Fargo & Co set a $125.00 target price on JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Friday, August 16th. DZ Bank restated a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, August 21st. UBS Group raised their price target on JPMorgan Chase & Co. from $125.00 to $131.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Buckingham Research lowered JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and set a $122.00 price target on the stock. in a research report on Monday, September 16th. They noted that the move was a valuation call. Finally, Morgan Stanley set a $122.00 price target on JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Friday, August 9th. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $121.60.

In related news, Director Mellody L. Hobson bought 18,200 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average price of $109.91 per share, with a total value of $2,000,362.00. Following the completion of the transaction, the director now owns 7,804 shares in the company, valued at $857,737.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lori A. Beer sold 13,341 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $114.28, for a total value of $1,524,609.48. Following the completion of the sale, the insider now directly owns 10,130 shares in the company, valued at approximately $1,157,656.40. The disclosure for this sale can be found here. Insiders own 0.76% 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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

Further Reading: Gross Domestic Product (GDP)

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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